The former boss of the Agricultural Development Bank (ADB) Steve Kpordzih is heading to Construction Bank as its new Managing Director (MD).   

Mr Kpordzih is expected to lead activities at the new Bank which opens its doors to the public on 30 May 2017.

Joy Business has also learnt that the former MD of the HFC Bank, Asare Akuffo will be the new Bank’s Board Chair.

The Construction Bank recently received a license from the Bank of Ghana to operate as a Universal Bank.

Officials of the Bank say even though they would operate as a Universal Bank, greater attention would be given to construction activities in the country. 

According to its Board Chair, Asare Akuffo they are well capitalized to offer funding to firms in the sector, adding that “ as the name suggest, we are a bank that will focus on Construction, the real estate, both the demand and supply side of the market, although, we have a universal banking license we want to different ourselves from  others”.    

Mr. Akuffo added that they have been able to attract some of the fine brains in the industry to help grow the bank and secure some big projects in the construction sector. 

Analyst would be looking forward to see how the entry of this bank address cost and access to finding in the sector .