Ghana promises to help regional growth under Ato Forson, who was elected chair of the ECOWAS Bank board.
Forson, Dr. Cassiel Ato
Ghana promises to help regional growth under Ato Forson, who was elected chair of the ECOWAS Bank board.
08:04, Mohammed Ali, April 15, 2025
Read for two minutes.
Ghana has taken the lead in one of the major financial organisations in West Africa with the election of Dr. Cassiel Ato Forson, Minister of Finance, as Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID).
The announcement was made on Monday, April 14, 2025, at the 23rd Annual General Meeting of the Board of Governors of EBID, which was held in Banjul, The Gambia. Deputy Minister for Finance Mr Thomas Nyarko Ampem presented Dr Forson's message despite his absence from the meeting.
Mr. Ampem, speaking on behalf of Dr. Forson, expressed gratitude to the Finance Minister for the trust placed in Ghana's leadership and stated that the nation is ready to make a significant contribution to the Bank's operations.
"I want to express my gratitude to my fellow governors for their faith in Ghana's leadership. In his letter, Dr. Forson stated, "I will continue to rely on your support in the coming year."
Dr. Forson listed four priorities for his term at the Bank in his vision statement. These include enhancing EBID's visibility as a development finance organisation in West Africa, attracting non-regional members to broaden the Bank's investment base, recovering capital through improved asset management, and obtaining cash for regional projects.
He pointed out that although the subregion has economic difficulties, there are still chances for development. He claimed that the Bank could contribute to the development of a more cohesive and effective West Africa if everyone worked together.
One of the biggest recipients of EBID funding at the moment is Ghana, where 24 ongoing projects totalling over $408 million are spread across industries like financial services, infrastructure, and energy.
These include funding for the Marriott Hotel project, the Tema LNG Terminal, Consolidated Bank Ghana, and Access Bank Ghana PLC.
Additionally, Dr. Forson praised the efforts of Dr. George Agyekum Donkor, President of the Bank, and stated that the advancements made under his direction demonstrate consistent institutional development.
Mr. Seedy Keita of The Gambia, the departing chairman, called his tenure in office a privilege and expressed his confidence that Dr. Forson would lead the Board well. Additionally, he reaffirmed EBID's commitment to advancing the development objectives of ECOWAS member nations.
The 15-member regional bloc's financial arm is the ECOWAS Bank for Investment and Development, which has its headquarters in Lomé, Togo.
Established in 1975 as the ECOWAS Fund, it changed its name to EBID in 1999 and underwent a restructuring in 2007 to encourage investment from the public and commercial sectors throughout the region.
Ghana promises to help regional growth under Ato Forson, who was elected chair of the ECOWAS Bank board.
08:04, Mohammed Ali, April 15, 2025
Read for two minutes.
Ghana has taken the lead in one of the major financial organisations in West Africa with the election of Dr. Cassiel Ato Forson, Minister of Finance, as Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID).
The announcement was made on Monday, April 14, 2025, at the 23rd Annual General Meeting of the Board of Governors of EBID, which was held in Banjul, The Gambia. Deputy Minister for Finance Mr Thomas Nyarko Ampem presented Dr Forson's message despite his absence from the meeting.
Mr. Ampem, speaking on behalf of Dr. Forson, expressed gratitude to the Finance Minister for the trust placed in Ghana's leadership and stated that the nation is ready to make a significant contribution to the Bank's operations.
"I want to express my gratitude to my fellow governors for their faith in Ghana's leadership. In his letter, Dr. Forson stated, "I will continue to rely on your support in the coming year."
Dr. Forson listed four priorities for his term at the Bank in his vision statement. These include enhancing EBID's visibility as a development finance organisation in West Africa, attracting non-regional members to broaden the Bank's investment base, recovering capital through improved asset management, and obtaining cash for regional projects.
He pointed out that although the subregion has economic difficulties, there are still chances for development. He claimed that the Bank could contribute to the development of a more cohesive and effective West Africa if everyone worked together.
One of the biggest recipients of EBID funding at the moment is Ghana, where 24 ongoing projects totalling over $408 million are spread across industries like financial services, infrastructure, and energy.
These include funding for the Marriott Hotel project, the Tema LNG Terminal, Consolidated Bank Ghana, and Access Bank Ghana PLC.
Additionally, Dr. Forson praised the efforts of Dr. George Agyekum Donkor, President of the Bank, and stated that the advancements made under his direction demonstrate consistent institutional development.
Mr. Seedy Keita of The Gambia, the departing chairman, called his tenure in office a privilege and expressed his confidence that Dr. Forson would lead the Board well. Additionally, he reaffirmed EBID's commitment to advancing the development objectives of ECOWAS member nations.
The 15-member regional bloc's financial arm is the ECOWAS Bank for Investment and Development, which has its headquarters in Lomé, Togo.
Established in 1975 as the ECOWAS Fund, it changed its name to EBID in 1999 and underwent a restructuring in 2007 to encourage investment from the public and commercial sectors throughout the region.
.jpg)
