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NIB deputy managing director takes over as new MD

Mr Tweneboa Kodua Fokuo, Managing Director of the National Investment Bank (NIB)

 The Deputy Managing Director of the National Investment Bank (NIB), Mr Tweneboa Kodua Fokuo, has been appointed as the new managing director of the Bank.

Having served the bank since 2019, Mr Fokuo is taking over at a time when the Bank is to receive its capitalization.

Mr Fokuo has been instrumental in the turn-around journey of the NIB and has specifically been in charge of risk management and operations.

He joined the bank in 2019, a time when NIB needed the full implementation of an Enterprise Risk Model (ERM) to kickstart its transformational journey.

Under his leadership, the NIB has seen the significant execution of the ERM Model and the introduction of best governance practices.

This has created the necessary controlled environment required for sound banking. Again, Mr Fokuo’s involvement has revamped NIB’s operations to ensure resilience and the application of standard guidelines for rigor and efficiency.

As such, his appointment as the Managing Director has been received with excitement by many, especially the staff of the bank, because it is certain that Mr. Fokuo will chart the bank’s path in a new and better direction.

Profile

Mr Fokuo is a risk expert with over 15 years in Bank Risk Management. Until now he was the Deputy Managing Director of National Investment Bank Ghana PLC (NIB); having joined the Bank since 2019.

At NIB, he has been instrumental in the turn-around journey of the bank and has been specifically in charge of the Risk Management and Operations of the Bank.

Joining NIB in 2019 was timely as the bank needed the full implementation of its Enterprise Risk Model (ERM) to kickstart its transformational journey. Execution of the ERM Model and the introduction of best governance practices have created the necessary controlled environment required for sound banking.

Again, Mr Fokuo has revamped the Bank’s Operations to ensure resilience and application of standard guidelines across the bank for rigour and efficiency.

Before joining the National Investment Bank, Mr. Fokuo was appointed as the Head of Credit Risk of First National Bank; a subsidiary of FirstRand Bank Group of South Africa.

Between 2008 and 2016, Mr. Fokuo worked with Barclays Bank Ghana (now ABSA) where he rose through the ranks becoming a Senior Risk Control Manager and Country Risk Champion.

Mr. Fokuo is the current Board Chairman of Nexans Ghana Limited and a board member at State Housing Company Limited.

He 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 Risk Certificate from the IFS School of Finance, UK.

Reporting by Wilberforce Asare in Accra

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