Consolidated Bank of Ghana (CBG), the second-largest bank in Ghana by branch network has been accepted to join the Commonwealth Enterprise and Investment Council, a major Commonwealth organ created by the 54 Commonwealth Heads of Government to promote Trade, Enterprise, and Investment within and across the Commonwealth of Nations.
CBG joins the Commonwealth at a unique time as it prepares for the Commonwealth Heads of Government Summit in Rwanda in June 2022, and the Commonwealth Games in Birmingham, in the United Kingdom, in July 2022.
It joins an illustrious group of companies such as Standard Chartered, Afreximbank, Dangote group, City of London, De La Rue, Royal Mail, and Rolls-Royce, whose CEOs will now sit alongside Mr. Daniel Addo, CEO of CBG, on the Global Advisory Board.
“We are very delighted to welcome Consolidated Bank Ghana (CBG) as our newest Strategic Partner and to appoint Daniel Wilson Addo, Chief Executive Officer of CBG, to CWEIC’s Global Advisory Council” the Right Honourable Lord Marland of Odstock, Chairman of CWEIC, said.
With 114 branches across Ghana, CBG is the bank with the second-largest presence in Ghana.
“We are excited about the Pan – African ambition of CBG and believe that its membership in CWEIC will be beneficial to this worthy prospect” Mr. Gabby Otchere -Darko, Chair of the Advisory Board, CWEIC Ghana, said.
“With the Commonwealth’s combined gross domestic product of approximately 13 trillion, the CBG under the aegis of its dynamic CEO is well-positioned to become a leading financial player in Africa and the Commonwealth,” said Mr. John Obeng Apea, Head of Mission, CWEIC Ghana, Gambia, Sierra Leone, and Cameroon
About Consolidated Bank of Ghana
CBG is an indigenous bank wholly owned by the Government of Ghana. It is currently the second-largest in Ghana by branch network and has a staff strength of over 2,300. The Bank is poised to become the leading SME Bank in Ghana and ultimately the West African Sub-Region, leveraging technology to grow market share and presence.
The Bank is segmented into three main lines of business, namely: Wholesale Banking, Retail & Business Banking, and Global Markets, all underpinned by a suite of robust digital offerings and technology platforms.
The Bank is also able to support Trade (cross-border) transactions in Africa, Europe, Asia, and the Americas by virtue of existing correspondent banking relationships.
CBG is headed by Mr. Daniel Addo.
About the Commonwealth Enterprise and Investment Council (CWEIC)
Accredited to the Commonwealth Secretariat and created by 54 Heads of Government, The Commonwealth Enterprise and Investment Council is the primary Business and Trade organ of the Commonwealth of Nations.
Its role is to use the convening power and trusted network of the Commonwealth, which is led by Her Majesty The Queen, to drive Trade and Investment. CWEIC is the organiser of the Commonwealth Business Forum which takes place at the Commonwealth Heads of Government Meeting every 2 years and the Commonwealth Games Business Forum which takes place alongside the Commonwealth Games every 4 years.
CWEIC is headed by The Right Honourable the Lord Marland of Odstock, former UK Prime Minister’s Trade Envoy, Minister for Energy and Climate Change, Minister for Business, Innovation and Skills, and Treasurer of the Conservative Party.