Ofori-Asante likely to be appointed as CEO of Petroleum Commission

President Nana Akufo-Addo is yet to appoint someone to take over as Chief Executive Officer of Petroleum Commission, but insider sources have tipped Mr. Philip Ofori-Asante to be next in line.

Mr. Philip Ofori-Asante is an accomplished Banker with over 15 years in senior managerial roles having attained leadership roles in both international and local banks in Ghana.

With extensive experience in business and banking, reliable sources working for the government have said it shouldn’t come as a surprise to the public when his name is mentioned in the coming days.

They recommended him for the instrumental role he played in the camp of Vice President Dr. Bawumia prior to the 2016 general elections.

The sources who pleaded not to have their identity revealed also mentioned that Mr. Philip Ofori-Asante should be credited for the sponsoring the New Patriotic Party to win the Adansi-Fomena, Adansi-Asokwa, Adansi- Akrofuom and the New Edubaise parliamentary seats.

Below is a profile of Mr. Philip Ofori-Asante

Board Memberships: Kedari Ghana Limited 2014 to date

Unique Oil Company Limited 2015

Union Savings Company Limited 2010 to date

Adansi Rural Bank Limited 2000 to date

Fiona Press Limited

Professional Engagements: Examiner, Practice of Banking II (Credit Risk) 2007 to 2012

Employment History November 2010 – March 2012: Intercontinental Bank Ghana Limited

General Manager and Head

Marketing Division II

The Role

Providing leadership for a number of branches in the Retail network in Accra, Kumasi, Techiman, Takoradi and Tarkwa clusters. Responsibility for Public Sector Financing and Corporate Banking sectors of Mining, Power and Upstream Oil and Gas Desks. Also responsible Corporate Finance and Advisory Unit set up under my leadership and direction.

A total workforce of over 150 across both the Retail and Corporate .Banking segments under the sector.

A key member of the Executive and various Management committees of Risk, Asset and Liability (ALCO) among others.

Guided the team in structuring key deals in Power, Mining and the Public Sector.

February to August 2010 Merchant Bank Ghana Limited

Head, Wholesale Banking

A member of the core management team tasked to lead and transform a loss making bank into profitability.

Led the Corporate and Business Banking segments of the bank, Corporate Finance and Advisory Services and the Registrars units. Also anchored the setting up of the Pre- Recoveries Unit, Credit Support Unit within the Corporate and business Banking Unit, Trade Sales Unit, Transactional Products and Services Units.

Achored the Management Development Programme within the Corporate and Business Banking Units to ensure and sustain career succession planning.

June 2006 – February 2010

Stanbic Bank Ghana Limited

Head, Corporate and Investment Banking

The role entailed providing leadership for Corporate Banking, Investment Banking, Transaction Products and Services and Global Markets

Key transactions include:

US$60 Million for Kingdom Hotel Group for the rehabilitation of the Ambassador Hotel in Accra

US$50 Million for the Meridien Port Services at the Ghana Ports and Harbours Authority.

US$19 Million for the Ghana Ports and Harbours Authority

Provision of revolving trade finance facility of US$70 Million for the Volta River Authority

Provision of Pre-Export Finance of Ghs600 Million for the internal Marketing of Cocoa for Licensed Cocoa Buying Companies. This was done in collaboration with International Finance Corporation of the World Bank. Key customers in the pool included: Olam Ghana, Akuafo Adamfo Cocoa Marketing, Adwumapa Buyers Limited, Kuapa Kookoo Limited, Transroyal Cocoa Marketing Company.

US$45 Million facility for Goldfields Ghana Limited

Trade Finance facility of US$10 Million for Ghacem Limited. Ghacem is the foremost leading manufacturer of Cement in Ghana.

Head, Corporate Banking. Led the Corporate Banking team of the bank. The team had responsibility for the relationship management of the bank’s top customers. This segment included mostly those on the Ghana club 100 as well as multinational companies. My leadership transformed the asset base of the bank from about Ghs30 million to over Ghs350 Million in three years.

September 1994 – June 2006

Barclays Bank Ghana Limited

Head Business Banking January to June 2006

Provided leadership for the team that managed the Premium and Standard corporate customers of the bank.

With a total workforce of approximately 30, the team made up 10 Relationship Managers in Accra also combined the leadership of Kumasi and Takoradi Business Centers.

Reporting into the role were Barclays Custodial Services with a workforce of 4 and Electronic Banking with a team membership of 3

Senior Corporate Manager April 2004 to January 2006

Responsible for relationship managing a total of about 40 customers in the large segment of the Bank’s corporate portfolio.

Key relationships include:

Ghana Telecom

Ministry of Finance - US$55 Million

Volta River Authority- Led the Authority's quest to raise equity of US$95.6 Million equity participation in the West African Gas project

Licensed Cocoa Buying Companies with a total portfolio of Ghs800 Billion in 2004. Notable players included- the top 5 in the industry who together controlled approximately 80% of the industry turnover- Produce Buying Company; OLAM; Akuafo Adamfo; Adwumapa Buyers Limited; Kuapa Kookoo Limited

Ghana Civil Aviation Authority- US$10 Million

Ghana Ports and Harbours Authority- US$10 Million

Total Ghana Limited, Mobil Oil Ghana Limited, Shell Ghana Limited

Toyota Ghana Limited, Mechanical Lloyd Company Limited, Japan Motors Trading Company Limited, Silver Star Auto Limited, Modern Automobile Limited (Khalmoni Group), PHC Motors Limited

Kinapharma Limited, Kojach Pharma Limited

Relationship Manager and Head, Kumasi Business Center January 2003 to April 2004

Pioneered the setting up of the business center in Kumasi and provided leadership to the Corporate Banking Team in the northern sector of the country.

Managed a diversified portfolio in the Timber, Poultry, Pharmaceutical and Trading segments

Manager, Relationship and Credit Support team. Provided middle management support to the corporate banking team. Provided credit and operations support for the corporate banking team.

Qualifications

Academic

Executive Masters in Business Administration, Ghana Institute of Management and Public Administration 2000 – 2002 Bachelor of Arts (Honours) in Sociology from the University of Ghana 1991

Professional

Post Graduate Certificate in Relationship Management: Institute of Financial Services, United Kingdom 2007

Associate, Chartered Institute of Bankers, Ghana

Qualifications

Academic

Executive Masters in Business Administration, Ghana Institute of Management and Public Administration 2000 – 2002 Bachelor of Arts (Honours) in Sociology from the University of Ghana 1991

Professional

Post Graduate Certificate in Relationship Management: Institute of Financial Services, United Kingdom 2007

Associate, Chartered Institute of Bankers, Ghana