Effective leadership, sound management crucial to growth of ADB — MD
THE Managing Director of Agricultural Development Bank (ADB) PLC, Mr Edward Ato Sarpong, has said that effective leadership, sound management and strong structures are essential to supporting the bank’s performance in the market.
He noted that although the macroeconomic environment and the banking industry had improved, ADB needed to strengthen its internal systems and align its people, management and governance structures to achieve better results.
“Human capital is the most important ingredient in driving a business world. We have solved the market problem and the industry problem. What we need to resolve is the structure problem,” Mr Sarpong underlined.
He made the remarks at the joint National Executive Council Meeting of the Professional and Managerial Staff Union (PMSU) and the Local Union (LU) in Accra on Saturday, themed: ‘Safeguarding ADB’s Institutional Sustainability and Jobs in the Fulfilment of its National Development Mandate.’
Mr Sarpong said the bank had made progress over the past two years, including efforts to stabilise operations and improve profitability, but added that more needed to be done to unlock its full potential.
“We have the capacity to be a one billion profit bank, but at the moment we are doing just about 400 million. We need to give our people the right stimulus to enable that one billion to happen,” he said.
The Managing Director stated that the bank was reviewing its structures to ensure that ownership, the board, management, the regulator, staff and customers worked within an integrated framework that delivered results.
He explained that the bank was also strengthening its credit processes and risk framework to ensure that loans were granted to customers with the capacity to repay, while diversifying its income sources beyond government securities.
The Chairman of the PMSU, Mr James Obeng, urged union leaders and members to uphold professionalism, productivity, ethical conduct and institutional loyalty.
“Our election is not a licence for personal aggrandisement. It is a sacred mandate of service, sacrifice, accountability and principled leadership,” he said.
Mr Obeng called on members to reject factionalism, gossip, conflicts of interest, indiscipline and other conduct that could undermine the bank’s progress.
He said the union would continue to pursue lawful, factual, strategic and institution-focused unionism, while demanding transparency, fairness and accountability within its own structures.
For his part, the Local Union Chairman, Mr Francis Xavier Kongkuah, called on management to establish a transparent and time-bound framework for regularising deserving acting appointments.
He also asked management to review the broader staff structure to strengthen career progression, succession planning and operational efficiency.
“Responsibility must be accompanied by commensurate authority, institutional support, equitable recognition and fairness,” Mr Kongkuah said.
He assured management of the union’s commitment to responsible engagement, constructive partnership, industrial harmony and sustainable business growth.
Mr Kongkuah, however, indicated that staff welfare, dignity and job security must remain central considerations in every strategic decision taken by the bank.
He expressed the union’s determination to leave ADB stronger, more resilient and more prosperous than it inherited it.
Mr Edward Ato Sarpong (sixth from left, front row) with the union members after the meeting. Photo: Ebo Gorman
BY ENOCK KWAME OFORI
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