My decision to pursue an accounting career evolved naturally from my first job – at Fidelity Capital Partners, where I completed my mandatory national service. I developed an interest in the profession under the wing of my boss at the time, and I consider myself fortunate to have had a manager and mentor in my callow years.
In 2006, I moved to Fidelity Bank as finance officer. This was an important but bittersweet period in my professional growth. The working environment was conducive to developing my creativity, but the workload and exposure were huge. When I moved on from Fidelity, I advanced through roles at various banks, rising from senior corporate finance analyst to financial controller and then CFO.
Consolidating the financial statements of seven banks was one of the highs of my professional journey
I am now the financial controller at Consolidated Bank Ghana (CBG), which was established following the consolidation of seven defunct banks in 2018. The first year at CBG was very challenging, as we had to consolidate the financial statements of these seven banks. The project was accomplished successfully and, looking back, I count that experience as one of the highs of my professional journey. My career has been exciting, with both good and bad experiences. However, I would not trade my bad experiences even if I could. They serve as my scars, reminding me of the possible pitfalls in my journey ahead.
Although a new bank, CBG is leveraging the existing customer base from the consolidated banks as well as new customers, offering them simple and differentiated products and services. Fresh capital injection by the government of Ghana in 2018, coupled with a healthy balance sheet with a low non-performing loan (NPL) ratio, provides us with a great opportunity to grow our risk assets. Our branch network is the second largest in the country, which provides us with the opportunity to serve our customers in person alongside the services rendered on our digital platforms.
Russia’s invasion of Ukraine and the tough global economic environment have taken their toll on Ghana. As an import-driven economy, it has witnessed a rapid depreciation of its currency amidst rising interest rates. This poses a challenge to the cost of doing business in the country, which is impacting our customers. For banks, the cost of operations is trending upwards and the NPL ratio is beginning to rise in this high interest rate regime.
If I had law-making powers, I would intensify the campaign to grow local industries so as to reduce our reliance on imported goods and strengthen our currency. There would also be government support for local entrepreneurs to enable them to augment their production and compete with imported products.
What I enjoy about my job is that every day I find new challenges to surmount. My work provides plenty of variety and a decent level of stress, which keeps me engaged. Guiding the team to find solutions and observing my mentees achieve their highest potential also warms my heart.
In my spare time, I enjoy putting my thoughts into words. I am committed to developing myself in this field and becoming a writer. Watching a good football match helps to keep me sane after a hectic week in the office and despite Manchester United’s current struggles, my love for the team is resolute.
The World Cup euphoria in Ghana has waned following our exit at the group stage. Nonetheless, I am backing England to lift the cup for a second time.
