Mr. Tweneboa Kodua Fokuo, the New Patriotic Party's Parliamentary candidate for Manso Nkwanta, has been named the Managing Director of the National Investment Bank (NIB), starting Monday, May 13, 2024.

He succeeds Mr. Samuel Sarpong, who has been at the helm of the NIB since 2019.

In a memo addressed to the bank's staff, it was stated that Mr. Fokuo was appointed by "the majority shareholder."

“In addition, Mr. Philip Ofori-Asante has been nominated as Deputy Managing Director, following in Mr. Fokuo’s footsteps. Mr. Ofori-Asante brings considerable banking expertise, and we look forward to introducing him to the team at the appropriate time.

“Rest assured, the restructuring and transformation efforts we’ve initiated will persist under Mr. Fokuo’s capable leadership. With the invaluable guidance of the Board and Mr. Fokuo’s vision, working closely with Management, we anticipate a seamless transition and ongoing progress.”

Profile

Mr. Tweneboa Kodua Fokuo is a seasoned banker with extensive experience in risk management across commercial, corporate, and investment banking, as well as country risk management.

His banking career began at Barclays Bank Ghana in 2008, where he held various roles in the Risk Management department, eventually rising to the position of Assistant Vice President. During his time at Barclays, he also served as the Country Risk Champion for Barclays Ghana, liaising with the Group's Country Risk Teams in London and Johannesburg.

In January 2016, Mr. Fokuo joined First National Bank Ghana Ltd, a subsidiary of FirstRand Bank of South Africa, as Head of Credit Risk.

Mr. Fokuo holds a BSc. Degree in Natural Resources Management from the Kwame Nkrumah University of Science and Technology (KNUST), an MBA in Finance from the University of Wales, UK, and an Advanced Commercial Credit Risk Certificate from the IFS School of Finance, UK.