President Nana Akufo-Addo is yet to appoint someone to take over as Chief Executive Officer of Petroleum Commission, but insider sources have tipped Mr. Philip Ofori-Asante to be next in line.
Mr. Philip Ofori-Asante is an accomplished Banker with over 15 years in senior managerial roles having attained leadership roles in both international and local banks in Ghana.
With extensive experience in business and banking, reliable sources working for the government have said it shouldn’t come as a surprise to the public when his name is mentioned in the coming days.
They recommended him for the instrumental role he played in the camp of Vice President Dr. Bawumia prior to the 2016 general elections.
The sources who pleaded not to have their identity revealed also mentioned that Mr. Philip Ofori-Asante should be credited for the sponsoring the New Patriotic Party to win the Adansi-Fomena, Adansi-Asokwa, Adansi- Akrofuom and the New Edubaise parliamentary seats.
Below is a profile of Mr. Philip Ofori-Asante
Board Memberships: Kedari Ghana Limited 2014 to date
Unique Oil Company Limited 2015
Union Savings Company Limited 2010 to date
Adansi Rural Bank Limited 2000 to date
Fiona Press Limited
Professional Engagements: Examiner, Practice of Banking II (Credit Risk) 2007 to 2012
Employment History November 2010 – March 2012: Intercontinental Bank Ghana Limited
General Manager and Head
Marketing Division II
The Role
Providing leadership for a number of branches in the Retail network in Accra, Kumasi, Techiman, Takoradi and Tarkwa clusters. Responsibility for Public Sector Financing and Corporate Banking sectors of Mining, Power and Upstream Oil and Gas Desks. Also responsible Corporate Finance and Advisory Unit set up under my leadership and direction.
A total workforce of over 150 across both the Retail and Corporate .Banking segments under the sector.
A key member of the Executive and various Management committees of Risk, Asset and Liability (ALCO) among others.
Guided the team in structuring key deals in Power, Mining and the Public Sector.
February to August 2010
Merchant Bank Ghana Limited
Head, Wholesale Banking
A member of the core management team tasked to lead and transform a loss making bank into profitability.
Led the Corporate and Business Banking segments of the bank, Corporate Finance and Advisory Services and the Registrars units. Also anchored the setting up of the Pre- Recoveries Unit, Credit Support Unit within the Corporate and business Banking Unit, Trade Sales Unit, Transactional Products and Services Units.
Achored the Management Development Programme within the Corporate and Business Banking Units to ensure and sustain career succession planning.
June 2006 – February 2010
Stanbic Bank Ghana Limited
Head, Corporate and Investment Banking
The role entailed providing leadership for Corporate Banking, Investment Banking, Transaction Products and Services and Global Markets
Key transactions include:
US$60 Million for Kingdom Hotel Group for the rehabilitation of the Ambassador Hotel in Accra
US$50 Million for the Meridien Port Services at the Ghana Ports and Harbours Authority.
US$19 Million for the Ghana Ports and Harbours Authority
Provision of revolving trade finance facility of US$70 Million for the Volta River Authority
Provision of Pre-Export Finance of Ghs600 Million for the internal Marketing of Cocoa for Licensed Cocoa Buying Companies. This was done in collaboration with International Finance Corporation of the World Bank. Key customers in the pool included: Olam Ghana, Akuafo Adamfo Cocoa Marketing, Adwumapa Buyers Limited, Kuapa Kookoo Limited, Transroyal Cocoa Marketing Company.
US$45 Million facility for Goldfields Ghana Limited
Trade Finance facility of US$10 Million for Ghacem Limited. Ghacem is the foremost leading manufacturer of Cement in Ghana.
Head, Corporate Banking. Led the Corporate Banking team of the bank. The team had responsibility for the relationship management of the bank’s top customers. This segment included mostly those on the Ghana club 100 as well as multinational companies. My leadership transformed the asset base of the bank from about Ghs30 million to over Ghs350 Million in three years.
September 1994 – June 2006
Barclays Bank Ghana Limited
Head Business Banking January to June 2006
Provided leadership for the team that managed the Premium and Standard corporate customers of the bank.
With a total workforce of approximately 30, the team made up 10 Relationship Managers in Accra also combined the leadership of Kumasi and Takoradi Business Centers.
Reporting into the role were Barclays Custodial Services with a workforce of 4 and Electronic Banking with a team membership of 3
Senior Corporate Manager April 2004 to January 2006
Responsible for relationship managing a total of about 40 customers in the large segment of the Bank’s corporate portfolio.
Key relationships include:
Ghana Telecom
Ministry of Finance – US$55 Million
Volta River Authority- Led the Authority’s quest to raise equity of US$95.6 Million equity participation in the West African Gas project
Licensed Cocoa Buying Companies with a total portfolio of Ghs800 Billion in 2004. Notable players included- the top 5 in the industry who together controlled approximately 80% of the industry turnover- Produce Buying Company; OLAM; Akuafo Adamfo; Adwumapa Buyers Limited; Kuapa Kookoo Limited
Ghana Civil Aviation Authority- US$10 Million
Ghana Ports and Harbours Authority- US$10 Million
Total Ghana Limited, Mobil Oil Ghana Limited, Shell Ghana Limited
Toyota Ghana Limited, Mechanical Lloyd Company Limited, Japan Motors Trading Company Limited, Silver Star Auto Limited, Modern Automobile Limited (Khalmoni Group), PHC Motors Limited
Kinapharma Limited, Kojach Pharma Limited
Relationship Manager and Head, Kumasi Business Center January 2003 to April 2004
Pioneered the setting up of the business center in Kumasi and provided leadership to the Corporate Banking Team in the northern sector of the country.
Managed a diversified portfolio in the Timber, Poultry, Pharmaceutical and Trading segments
Manager, Relationship and Credit Support team. Provided middle management support to the corporate banking team. Provided credit and operations support for the corporate banking team.
Qualifications
Academic
Executive Masters in Business Administration, Ghana Institute of Management and Public Administration 2000 – 2002
Bachelor of Arts (Honours) in Sociology from the University of Ghana 1991
Professional
Post Graduate Certificate in Relationship Management: Institute of Financial Services, United Kingdom 2007
Associate, Chartered Institute of Bankers, Ghana
Qualifications
Academic
Executive Masters in Business Administration, Ghana Institute of Management and Public Administration 2000 – 2002
Bachelor of Arts (Honours) in Sociology from the University of Ghana 1991
Professional
Post Graduate Certificate in Relationship Management: Institute of Financial Services, United Kingdom 2007
Associate, Chartered Institute of Bankers, Ghana
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