Bankers have welcomed the Appointment of the Former Managing Director (MD) of Zenith Bank, Daniel Asiedu, as the New Managing Director of Agricultural Development Bank (ADB). Daniel Asiedu, who recently retired from Zenith Bank, after being at the helm of Affairs for six years, takes over from Stephen Kpordzih who resigned from the Bank on January 11, 2016.
Banking Consultant and Head of the Osei Tutu II Centre for Executive Education and Research, Nana Otuo Acheampong in an interview with XYZ Business News, said, in order for the New Managing Director to reposition ADB, he should stick to the core mandate of the Bank, which is Agriculture. He further urged him to be innovative as he begins a new era.
“Repositioning ADB as one of the best banks is for them to return to their core mandate. Core mandate of ADB is agriculture and it is accepted that agriculture is high risk business. But in finance, the higher the risk the higher the return, so if they can consume that sort of risk and position themselves to propagate that core mandate, then they are on a winning streak. My suggestion to them is for them to go back to their core mandate, try and find some innovative way of tackling the risk profile of agric.”
Source: Pious Kojo Backah, Radio XYZ