The banking sector in Ghana for about 3 years now has gone through a turbulent phase.
Under the leadership of the recently retired CEO of GCB Bank, Ransford Sowah, the GCB took over two troubled banks when the banking sector reforms began in 2017.
Some banks successfully pulled through the challenging times and are still doing brisk business in the country.
Some of these banks are said to have great Chief Executive Officers (CEOs) or Managing Directors (MD) who spearhead innovations to make their institutions more customer friendly, among others.
Meet Ransford Sowah the former CEO of the oldest commercial Bank in Ghana, GCB Bank. His strategic decision has kept the bank on it’s toes. Consequently, GCB bank ranks as one of Ghana’s most successful banks.
Mr. Ransford Sowah, a seasoned banker and lawyer, was appointed as the Managing Director of GCB Bank n 2017.
He replaced Mr. Ernest Mawuli Agbesi who resigned as MD of the Bank in the 2017.
Mr. Sowah was a Banker in the City of London for 30 years and worked extensively in the erstwhile Ghana Commercial Bank London Branch, Ghana International Bank London and Bank of Montreal Capital Markets, London.
He is a commercially astute Business Banker and Lawyer with a consistent record of success in optimising the market, revenue, profit and service performance of organisations operating in challenging environments.
He has held senior management positions in Compliance, International Trade Finance, Retail Banking, Business Development and in the UK Capital Markets.
Mr. Sowah has many achievements to his credit including liaising with James Capel and Lonrho in the sale of shares in Ashanti Goldfields Corp, drafting Foreign Exchange Retention Agreements involving Ghanaian gold mining companies, advising Ghana Commercial Bank, Ghana (now GCB Bank) and Social Security Bank on the sale of their shares to the Ghanaian diaspora and interpreting various financial legislation and their effect in practice.
His other achievements are building relationships with the Prudential Regulatory Authority and Financial Conduct Authority, UK and building significant relationships with money transfer companies.
The former GCB bank CEO also played a lead role in the annual syndication of Ghana Cocoa Board´s receivables backed loans. Also, in the development of new correspondent banking relationships throughout West Africa and structured finance for the purchase of oil for Ghana.
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Mr. Sowah attended Mfantsipim School, Cape Coast, and has a BA Honours Degree in English and Philosophy from the University of Ghana, Legon. He is a Barrister at Law and Solicitor of the Supreme Court of Ghana and a member of the British Bankers Association, Business Council for Africa and the Association of Foreign Banks, all in London.