The majority shareholder of the Agricultural Development Bank (ADB) has nominated chartered accountant and former Deputy Minister of Communications, Edward Ato Sarpong, as the bank’s new Managing Director.
Sources familiar with ADB’s operations disclosed this development to JoyBusiness.
Shareholding Structure of ADB
According to the bank’s official records:
- Financial Investment Trust (Bank of Ghana): 64.05%
- Government of Ghana: 21.50%
- Ghana Amalgamated Trust PLC: 11.26%
- Retail Investors and ADB Staff: 3.2%
Mr. Sarpong replaces Alhassan Yakubu Tali, who resigned effective February 5, 2025. Mr. Tali had served as ADB’s Deputy Managing Director since 2017 before assuming the top position on December 1, 2022.
A statement issued by ADB’s Board on February 6, 2025, confirmed that the majority shareholder had nominated a new Managing Director.
Board Approval and Next Steps
The ADB Board met last week to interview Mr. Sarpong and subsequently approved his nomination. He is expected to officially assume office on Monday, February 10, 2025.
Profile of Edward Ato Sarpong
Mr. Sarpong has held several leadership positions, including:
- Managing Director of AfricaOnline
- Chief Operating Officer of K-Net (2009–2011)
- Deputy Minister of Communications (2014) under former President John Mahama
He is a member of the Institute of Chartered Accountants, Ghana (ICAG) and an alumnus of the University of Professional Studies, Accra (UPSA).
Mr. Sarpong also holds an Executive Master’s Degree in Entrepreneurship from the University of Ghana Business School and has participated in leadership development programs at Manchester Business School.
Additionally, he has worked as a business consultant for Multimedia Group Limited, owners of Joy FM, Adom FM, and Multi TV. He also founded Edge Capital Partners, where he has served as a business and leadership trainer and motivational speaker.