Mr. Tweneboa Kodua Fokuo has taken over from Mr. Samuel Sarpong as the Managing Director of the National Investment Bank (NIB).

His appointment takes effect from Monday, May 13, 2024.

In a memo sent to the staff and cited by Citinewsroom, the Bank explained that Mr Fokuo was appointed by “the majority shareholder."

It further explained that Mr. Philip Ofori-Asante has also been nominated as Deputy Managing Director, following in Mr. Fokuo’s footsteps.

"Mr. Ofori-Asante brings considerable banking expertise, and we look forward to introducing him to the team at the appropriate time.

“Rest assured, the restructuring and transformation efforts we’ve initiated will persist under Mr. Fokuo’s capable leadership. With the invaluable guidance of the Board and Mr. Fokuo’s vision, working closely with Management, we anticipate a seamless transition and ongoing progress,” the memo read.

About Tweneboa Fokuo

He is a highly experienced Banker with a strong grasp of Risk Management, covering a broad spectrum of Commercial, Corporate and Investment Banking as well as Country Risk Management.

Mr. Fokuo has had a rich banking career having worked with Barclays Bank, Ghana since 2008. At Barclays, he played various roles in the Risk Management fraternity and rose steadily to the position of Assistant Vice President.

He also served as the Country Risk Champion for Barclays Ghana, reporting to the Group’s Country Risk Teams in London and Johannesburg. He left Barclays Bank, Ghana in January 2016, and joined First National Bank Ghana Ltd; a subsidiary of FirstRand Bank of South Africa as Head of Credit Risk.

Mr. Tweneboa Kodua Fokuo holds a BSc. Degree in Natural Resources Management from the Kwame Nkrumah University of Science and Technology (KNUST); an MBA in Finance from the University of Wales, UK; and an Advanced Commercial Credit Risk Certificate from the IFS School of Finance, UK.