Ecobank Presents 2016 Dividend to SSNIT

Published on 11 July, 2017.

Ecobank Ghana has presented Gh¢38,972,844 to the Social Security and National Insurance Trust (SSNIT) as its share of declared dividend for 2016 financial year.

Ecobank Ghana has presented Gh¢38,972,844 to the Social Security and National Insurance Trust (SSNIT) as its share of declared dividend for 2016 financial year.

SSNIT holds a 16.9 per cent shares in Ecobank Ghana and the dividend of GH¢ 38,972,844 is slightly lower than the 2015 dividend of 39,879,446 paid to the Trust.

Mr Terence Darko, the Board Chairman of Ecobank Ghana, who led a seven-member delegation to make the presentation said notwithstanding the difficult enviroment that affected the banking sector last year, Ecobank Ghana paid the dividend close as possible to what it paid in 2015 since it valued SSNIT as an important shareholder.

He said Ecobank Ghana hopes to deepen its partnership with SSNIT, now that it had gone Biometric. It also accords with the policy of the bank to broaden its digital frontiers and promote financial inclusion.

Mr Daniel Kwei-Kumah Sackey, the Managing Director of Ecobank Ghana said the bank values its relationship with

SSNIT and was determined to increase business between the two Institutions.

Receiving the cheque, Dr John Ofori-Tenkorang, the Director General of SSNIT, thanked Ecobank Ghana and said it is among the few banks the Trust has stake in, that had paid dividend to it. He said banks form a significant portion of the Trust’s portfolio and the management of SSNIT would take prudent measures to make sure its interests in those banks are well diversified.

He said SSNIT has a lot of exposure in the real estate sector and would have to take another look at it to ascertain whether its investment in that sector was profitable.

Dr Ofori-Tenkorang stressed the need for SSNIT to make money for its key constituent who are the Pensioners.

“When I invest in a bank, I am expecting two things: To an extent that our stock market is very vibrant and there is liquidity and secondly, I should be able to trade in and out and realise capital gain on investments”, he added. Present were Mr Michael addo, Deputy Director General, Finance and administration, Mr Kofi Osafo- Maafo, Deputy Director General, Investments and Development and Mrs. Laurette Otchere, Deputy Director General, Benefits and Operations, Mrs Gifty Annan Company Secretary and Mrs Victoria Abaidoo, Customer Service Manager. Other members of the Ecobank Ghana delegation were Mr Morgan Asiedu, Executive Director, Legal, HR and Compliance, Mr Edward Botchway, Executive Director, Finance, Mr Carl Asem, Regional Business Manager (Anglophone West Africa Region). The rest are Mrs Patricia Sappor, Regional Head, Marketing and Communications (Anglophone West Africa Region) and Mrs Awuraa Abena Asafo-Boakye, Company Secretary and Head, Legal Department.

The Ecobank Ghana Delegation.


From left : Messsrs Kofi Osafo-Maafo (Deputy Director General – Investment & Development), Michael Addo (Deputy Director General – Admin & Finance), Mrs Gifty Annan (Company Secretary) and Mrs. Victoria Abaidoo (Customer Service Manager).


Mr Terence Darko (left) briefing the DG. Also in the picture is Mr Kofi Osafo-Maafo.

Mr. Darko (Ecobank Ghana Board Chairman), presenting the cheque to Director General of SSNIT. Looking on is Ecobank Ghana’s MD, Mr. Daniel Sackey.