CIB Ghana supports banking sector with 620 chartered bankers in three years

Chartered Institute of Bankers Ghana continues to support the banking industry’s sustainability through human capital development. As part of delivering on its mandate to promote banking education and regulate the practice of banking in Ghana, the Institute has graduated 620 chartered bankers in the last three years.

This was disclosed by the Chief Executive of the Institute, Robert Dzato, during the 13th induction and graduation ceremony held in Accra for the newly Chartered Bankers. These Chartered Bankers have completed the Institute’s requirements of examination and practical experience as well as orientation.

The 2022 ceremony was held under the theme ‘Future of Banking in Ghana: Ethics, Professionalism, and ESG Imperatives. In his keynote address, John Kofi Adomako, the Managing Director of GCB Bank, congratulated the Institute and its newly qualified bankers.

He indicated that to stay in the competition, the banking industry needs human capital in the areas of data analytics, AI, digital leadership, customer centricity, and ESG amongst others. Commenting on the theme, he said banks should adopt Environmental, Social, and Governance (ESG) policies and have mechanisms in place to assess the impact on their businesses.

Mr. Adomako said: “The role of banks and bankers is increasingly going beyond the regulatory compliance and value creation for stakeholders. There is a firm conviction by banks to advance to environmental, social, and governance both within their organizations and with their customers, regulators, and broader stakeholders. How banks embed ESG concepts in their governance fabric and culture are things we should be thinking about.”

He also stated that the banking sector is facing a combination of disruptions and the necessity for banks to respond strategically. “Data-driven fintechs and telcos are leading the charge in deploying data-driven insights to build profitable businesses that provide solutions based on customer journeys.

To respond effectively, banks will have to reinvent the ecosystems, platforms, and data assets that allow them to monetize data and pursue intelligent selling and cross-selling of products and services.

On his part, The President of the Chartered Institute of Bankers (CIB) Ghana, Benjamin Amenumey applauded the newly graduated students and inductees for their tenacity, diligence, and perseverance in getting this far.

“I congratulate our inductees and graduands for this great achievement. I commend the great efforts of our Institute, facilitators, lecturers, examiners, our external teaching centers, and staff of the Institute for their contribution,” he said.

He urged the new inductees to keep learning to stay current with the latest financial industry trends. “Be alert to new trends and keep learning new skills, acquire new knowledge to solve problems, and remain relevant. The day you stop learning new stuff, that is the day you start dying,” he said.

The Chief Executive of CIB Ghana, Robert Dzato, admonished the newly inducted Chartered Bankers to do more than just banking. He advised them to leverage their chartered banker status to take advantage of the related banking services as stipulated in the Institute’s Act, 2016 (Act 991).

To transform the perception of bankers, he advised the freshly graduated students and inductees to strive for and thrive on ethics and professionalism.

“You are graduating at a time when ethics is important. If you look at the Bank of Ghana report for 2021, GH¢61 million was lost due to fraud. Alarmingly, 53 percent of the fraud involved staff of banks. So, you are going out there as the voice of conscience and the voice of professionalism. We have a responsibility to re-professionalize banking,” he added.

He also indicated that the Institute is currently reviewing its syllabus to address the skills gap and equip bankers with competencies in data and analytics, Artificial Intelligence (AI), digital, and ESG; but ethics will remain fundamental to the CIB Ghana qualification.

Six (6) prizes were given out by the Institute to some inductees who demonstrated exceptional performance by doing well in their respective courses.

Kwabena Owusu Asante from GCB Bank won the Strategic Marketing Management Award of the Year; Benjamin Owusu from GCB Bank won both International Trade Finance and Banking Operations- Regulation, Market Practice, and Treasury Management of the Year; Korkor Ngobi Azina-Nartey from Ecobank PLC won Corporate Governance of the Year Award; Christabel Naa Ayorkor Armah of Access Bank PLC won Risk Management Award of the Year, and Michael Agbetepey of Agave Rural Bank PLC won Microfinance and Rural Banking Award of the Year.

Princess Jemimah Cato from the Bank of Ghana emerged as the valedictorian of the year winning the most promising inductee among her colleagues. Expressing her profound excitement, she reminisced about the long and often arduous journey which had brought them to their graduation day and on behalf of the graduation class thanked the administrators and staff of the institute as well as their families of the graduating class for their support.

She further urged her colleagues to uphold the name of the institutes in high esteem by upholding ethics, expertise, exposure, and education.

“We must uphold our ethics, honesty, and professionalism in a field like ours so that they can't be minimized. And regarding education, I suggested that all bankers go through CIB Ghana to gain the professionalism required in the market. The world is heading toward green financing, so I counsel banking management to do the same. Finally, they should know their respective fields to succeed,” she said.

Some key dignitaries who graced the occasion were the Immediate Past President of CIB Ghana, Rt. Rev. Patricia Sappor; Managing Director for GCB Bank PLC, John Kofi Adomakoh; Council Members, Fellows, ACIBs, representatives of other professional bodies, and other invited guests.