His appointment took effect on March 20, 2025, following approval by the Bank of Ghana and endorsement by shareholders.

Mr. Sackey succeeds Joe Mensah, who has served as the Chairman of the Board since 2019.

His appointment, alongside other distinguished board members, reflects CalBank’s renewed commitment to driving sustainable growth, profitability, and innovation within Ghana’s banking sector.

Profile of Daniel Nii Kwei-Kumah Sackey

Daniel Sackey is a highly accomplished banking executive with over 30 years of experience in strategic leadership, financial performance, and corporate governance.

He has held key roles across multiple financial institutions, including Ecobank Ghana, Zimbabwe, and Rwanda, driving digital transformation, operational excellence, and regulatory compliance.

With extensive board experience across financial institutions and stock exchanges, he has played a pivotal role in risk management, financial inclusion, and stakeholder engagement. He holds an MBA in International Banking and Finance from the University of Birmingham and a BSc in Accounting from the University of Ghana.

His vast expertise in strategic planning, regulatory compliance, risk management, business development, and financial inclusion makes him an ideal leader to guide CalBank’s strategic direction, reinforcing its position as a dominant player in the banking industry, and supporting its long-term vision of becoming a digital bank, promote financial inclusion and economic development in Ghana.

Speaking on his appointment, Mr. Sackey expressed his gratitude and optimism about the future of CalBank. “It is an honor to lead CalBank’s Board at such a pivotal time. The Bank has demonstrated resilience and strategic focus in achieving remarkable financial recovery. Together with my fellow board members, we are committed to steering the Bank towards sustained profitability and innovation, ensuring value for shareholders and stakeholders alike”.

Strengthening the Board with Seasoned Experts

Alongside Mr. Sackey, new board members have been officially endorsed by shareholders, bringing a wealth of experience in finance, investment, and governance to CalBank:

Johnson Delali Oware – Appointed as Executive Director and Deputy Managing Director, Johnson is an expert in corporate, commercial, and retail banking. His leadership spans across multi-country business growth, structured trade finance, and digital banking expansion.

Kwadwo Brantuo Mpeani – A Chartered Accountant and a former Ernst & Young (EY) Partner, with over 30 years of experience in auditing, taxation, and financial consulting. His strong background in financial management will enhance the Bank’s corporate governance framework.

Yvonne Ofosu-Appiah – A highly respected investment professional with 17 years of experience in venture capital, private equity, and sustainability-focused financial strategies. As Co-founder of Sahara Impact Ventures, she specializes in long-term investments and corporate governance.

Gerrit Muller – A seasoned investment professional with 21 years of experience in financial services, mergers & acquisitions, and private equity across Africa. As Senior Investment Director at Arise B.V., he has played a crucial role in shaping strategic financial investments in Ghana and beyond.

Speaking on the reconstitution of the board, Carl Asem, Managing Director of CalBank, expressed optimism about the bank’s prospects under the new leadership.

He stated that “The new appointments will reinforce the Bank’s strategic position in the Ghanaian market, helping it to create more value for its customers, employees, shareholders, investors, and local communities through sustainable business practices.”

Strong Financial Performance and Future Outlook

The appointment of the new board members comes at a time when CalBank has demonstrated remarkable financial resilience.

The Bank’s audited results for 2024 highlight a remarkable recovery, with Profit Before Tax surging to GHS 414.2 million, signaling a significant turnaround from previous losses.

Net Fees & Commission Income grew by 55.7% to GH¢179.6 million, driven by increased digital banking adoption. Deposits rose by 29% to GH¢9.6 billion, reflecting heightened customer confidence and retail banking expansion. Additionally, loan recoveries reached GH¢792 million, reinforcing the Bank’s commitment to effective risk management and financial stability.

Commitment to Sustainable Growth and Innovation

Under its new leadership, CalBank said it is committed to driving digital transformation, financial inclusion, and robust risk management to ensure sustained profitability.

“The Board is dedicated to executing the Bank’s five-year strategic plan, which focuses on expanding retail and commercial banking, enhancing digital banking platforms, strengthening risk management frameworks, and building strategic partnerships to promote sustainable banking solutions”, it added.

The Future of CalBank

CalBank remarked that it is poised for continued growth and profitability under its new leadership. With a strong emphasis on customer-centric banking, innovation, and operational efficiency, the Bank is set to strengthen its position as a leading financial institution in Ghana.

According to the Bank, its experienced leadership team, combined with a strategic vision, ensures adaptability in an evolving financial landscape. Committed to corporate governance and customer excellence, CalBank remains a trusted partner for businesses and individuals.

This development follows an injunction placed on the bank’s capital-raising efforts by a minority shareholder.

According to the bank, it has received approval from the Securities and Exchange Commission (SEC) to proceed with the allotment of shares and the remaining activities of the Rights Issue.

In a statement addressed to shareholders and the investing public, CalBank detailed that the crediting of shares to successful applicants on the Central Securities Depository (CSD) will occur between June 28 and July 5, 2024.

Additionally, the bank noted that the new shares will be listed for trading on the Ghana Stock Exchange (GSE) on July 8, 2024.

The deadline for processing refunds to unsuccessful applicants of the Rights Issue is also set for July 8, 2024.

CalBank also expressed gratitude to all shareholders and regulators for their continued support.

Below is the full statement

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The deal is part of arrangements being made by the government with financial institutions to bolster small-scale mining activities, including community mining.

The Deputy Minister of Lands and Natural Resources responsible for Mines, George Mireku Duker, who disclosed this, explained that the move would help eliminate the practice where some small-scale miners, as a result of financial challenges, sell their concessions to foreigners sometimes for a pittance.

He was speaking at a sensitisation workshop on regularisation of small-scale mining organised by the ministry for media editors in Accra on Tuesday.

Community schemes

Mr Duker said 16 community mining schemes had been established which were mining on a total land area of 2299.94 acres.

Additionally, he said, 85 district mining committees had been inaugurated in the Western, Western North, Ashanti, Eastern, North East, Upper East, Upper West and Savannah regions.

He said if well structured the scheme would cushion the economy and address unemployment.

Galamsey fight

Mr Duker said the fight against galamsey was a complex one but the government was determined, with the support of the people to bring it under control

He said the people in the galamsey business were not ordinary people, adding that they were people, some of whom carried sophisticated weapons.

He said the government had procured five-speed boats, which had been commissioned and placed under the care of the Ghana Navy.

In addition, the recruitment of river guards was ongoing, with the first 100 already passing out and getting ready for deployment on December 1, this year.

Responding to a question on the confiscated excavators, Mr Duker disclosed that the excavators had been handed over to the Ghana Police Service and that details would be made available to the media.

He welcomed inputs and expert views from the media on how to effectively communicate the strides made by the government in the galamsey war.

No ban on small-scale mining

Mr Duker also opposed calls for a ban on small-scale mining as a way to tackle illegal mining ( galamsey), saying it would do more harm than good to the country.

He explained that for a sector that contributed about 40 per cent of the country’s total gold produce and employed over one million Ghanaians, it had a huge role to play in economic development for which reason it was not prudent to ban it.

Recently there had been calls by a number of identifiable bodies including religious bodies and OccupyGhana for a temporary ban on all forms of small-scale mining.

But the deputy minister stated what was needed was to enforce regulations, which was what the government was doing to sanitise the water bodies and the environment.

He said aside from the numerous benefits of the small-scale mining industry to the country, the sector’s regulatory systems were considered one of the best in Africa, which had led to many countries seeking to learn from Ghana’s experience.

“Zambia and Sudan have come to emulate from us and currently, the South African High Commissioner is at the Ministry with the same purpose, to understudy Ghana’s small-scale mining sector,” he added.

I’m not into galamsey

Mr Duker debunked allegations levelled against him as being neck-deep in the galamsey activities.

” I have never been a miner and I will never be. I have only studied and had a good knowledge of the subject matter and that should be on the record,” he stated.

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Traceability project

Furthermore, he said the government through the World Bank and under the Ghana Land Restoration and Small-Scale Mining project, had already commenced work on a traceability system.

The objective of the project, he said, was to trace the chain of custody of the precious mineral right from the mine to its final destination.

The traceability project is being carried out by the PMMC and the Minerals Commission.

Later, the Deputy Minister led the editors to the Minerals Commission’s situational room where modern technological gadgets and software for the tracking of all earth-moving equipment and explosive machines will be commissioned next week.

The bank was recognised for Best Banking Solutions, Ghana, and for having the Most Innovative Banking App, Ghana at the awards.

The International Business Magazine Awards celebrate the best in class achievements pertaining to budding industrial talent, global leaders, corporates across various sectors within the International Business and Finance arena.

The Best Banking Solutions Category recognises the bank’s deliberate approach to providing holistic and tailor-made solutions for the varied needs of its clients.

The Most Innovative Banking award recognises the CalBank apps’ innovation and its ability to give value to both businesses and customers alike in a fast and convenient manner.

Chief Technology Officer at CalBank, Samuel Tamakloe, said “These awards are a testament of our dedication to excellence in all that we do.

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“The past year has been a tough one for all businesses and to be recognised at one of the most prestigious award ceremonies is refreshing – to this end, we will remain focused on offering better banking that rewards our customers every day.

“Apart from giving us a sense of pride, these awards also challenge us to maintain very high standards in providing the best banking solutions to Ghanaians,” Kofi Siabi, Head of Marketing also added.

Assessment for the awards was based on CalBank’s achievements in each category, its overall performance, and ongoing strategic initiatives.

The International Business Magazine is a UAE-based publication focused on business and finance. Since 2018, the awards have awarded numerous deserving institutions across the Middle East, Africa, Americas, Asia, and Europe.