The Minister of Public Enterprises, Hon. Joseph Cudjoe has paid a working visit to Consolidated Bank Ghana Ltd (CBG) as part of his familiarization tour.
In his introductory remarks, the Minister indicated that his visit was to learn first-hand the operations of the Bank. Hon. Cudjoe mentioned that, in March 2022, H. E. The President of the Republic charged him with oversight of the State Interest and Governance Authority (SIGA) to ensure profitability and efficiency of all entities that the Government has interest in. This include CBG.
“My visit today is to familiarize myself with the activities of the Bank and offer my support and advice where necessary”.
In a brief presentation, Managing Director of CBG, Daniel Wilson Addo said that Consolidated Bank Ghana has 114 branches across 13 regions and is the second largest Bank in terms of branch network. Mr. Addo said the mission of CBG is to provide simple, secure and differentiated banking experience to customers.
“We want customers’ journey to be simple, secured because of our background and to be different in all we do.”
We have automated our loan origination which allows us to process and disburse loans in two days he said.
According to the Managing Director, CBG is number 5 in secondary Bond Trading and is striving to become a Bond Market Specialist and as such developing that space to join.
Touching on People and Culture, he indicated that CBG organizes yearly surveys to gather staff feedback to help build a sustainable culture among staff.
“Training is a key focus area in the Bank, of which an academy has been established to train and build the capacity of our staff,” he said.
In conclusion, the Minister commended the Management of CBG for a good work done. Hon Cudjoe indicated his willingness to assist in achieving its vision whenever called upon. He said State Enterprises contribute significantly to the country’s Gross Domestic Product (GDP) and have a significant presence in the economy being avenues for job creation. he said his visit to various Public Enterprises enables him to bring to the fore issues inherent in same for the attention of the President’s Cabinet and the Economic Management Team.
The Minister’s final remarks were that the Ministry was developing a state ownership policy for the deployment of portfolio management to ensure all state entities becomes efficient and effective.