Former Head of Ecobank EDC Stock Brokers dies

Former Head of Ecobank EDC Stock Brokers dies
Source: Ghana | JoyBusiness | JAD
Date: 17-06-2019 Time: 09:06:35:am
File-photo: Alhassan Mahama Iddrisu

Investment Banker and Former Head of Ecobank Development Corporation (EDC) Alhassan Mahama Iddrisu has died. 

The Investment Banker died over the weekend after a short illness.

Mahama Iddrissu is said to have played a significant role in investment banking and capital development in the country. 

He also worked on a lot of Initial Public Offering of some companies listed on the Stock Market.

Alhaji Alhassan Mahama Iddrisu served on several boards in the country. These include; McOttley Capital and OAK Financials Services Limited.

Maham Iddrissu and EDC stock brokerage

He was instrumental in growing EDC’s stock brokerage business, making it the preferred brokerage firm for both foreign and local investors on the Ghana Stock Exchange (GSE). 

He headed the EDC team during the simultaneous listing of Ecobank Transnational Incorporation (ETI) on the GSE, Nigeria Stock Exchange (NSE) and the Bourse Régionale des Valeurs Mobilières (BRVM) in 2006. 

At EDC, Iddrisu led the selling team for several Initial Public Offers that includes, Ecobank Ghana (both IPO and Right Issue, HFC Series J Bond), the first three Government of Ghana Sovereign bond issue in 2007, 2013 and 2014. 

This was at a time when EDC was the only Co-Sponsor to sell the Sovereign Bond in Africa. 

Prior to joining EDC, he worked with Gold Coast Securities as the Head of Back Office in charge of processing of trades. 

He also worked as head of brokerage at New World Securities between 2001 and 2003 and at NTHC as Deputy Manager, Capital Markets when Purchase Buying Company (PBC), Cocoa Processing Company (CPC) and Benso Oil Palm Plantation were listed on the Ghana Stock Exchange.

Iddrisu was a member of the Institute of Chartered Accountants, Ghana. He holds a Master of Business Finance degree from Central University College, Ghana and is a former Authorized Dealing Officer (ADO) of the Ghana Stock Exchange.

Mahama Iddrisu on deals in the capital market space
Mahama Iddrisu played a critical role in the Privatization of Ghana Telecom for Vodafone, the merger of ECOBANK Ghana and The Trust Bank, Private Placement for WAICA Re. in Gambia, Sierra Leone, Ghana, Nigeria and many countries across the West Africa Sub Region.
Mahama Iddrisu and JoyBusiness
He was a regular panellist on JoyBusiness programs, JOY FM, discussions and analysts for most of our stories.  

He also behind the scenes helped some of our team members at JoyBusiness with research work that went in a long way to enrich our content.    
Tributes from Industry Players

Chief Executive of Unique Market who can be described as one of the close friends of Mahama Iddrisu has been paying tribute to him.

“You brought live to every environment that received your presence.  Death has taken this trait away. Most people in the business fraternity know you as Iddrissu but I call you KKT because we have been together for over 37 years.” 

“Memories of every encounter for over 37 years still remain fresh. 'Nkpa' your last words to me on your sick bed assure me that you are in the safe of your Maker and you have done his will. I will miss you. We would be bringing more tributes from industry players.”

Tribute by The Former Managing Director of ECOBANK  Development Corporation, Mike  Cobblah

The investment banking world has lost a rare Gem.  Iddrisu was my mate in Legon, long before I assumed the head of coverage for Anglophone West Africa minus Nigeria within the investment banking Group in Ecobank. I promoted him to become the head of brokerage after seeing all the deals and transactions he had led to List on the Ghana Stock Exchange.

His immense experience notwithstanding, he was respectful, affable, down to earth, professional, hardworking and results-oriented and would speak his mind at any time on both finance and social issues. He was respectful to a fault and would always defer to the boss to make the final call.

To his subordinates, Iddrisu was too good to a fault. He cared more about his staff than himself. He fed them breakfast, lunch and supper. He was a member of the team that raised Ghana’s first Sovereign Bond under ministerial oversight of The late Baah Wiredu.

He granted interviews to most FM stations on topical issues related to Finance and Investment.  He had some really harsh words for investors who patronized the MenzGold product. I would say Alhaji Iddrisu Mahama was that friend who stuck more closely than a brother.

The entire UG93 year group have fond memories of his affable persona and friendliness and would forever be remembered. Iddrisu has indeed left his footprints on the sands of time. Fare thee well Alhaji