JOHN SACKAH ADDO

JOHN SACKAH ADDO 



$128 Million

CHAIRMAN, PRUDENTIAL BANK LTD


Wealth: SELF MADE, BANKING


Education: UNIVERSITY OF GHANA, BACHELOR’S DEGREE, ECONOMICS


Known For: PRUDENTIAL BANK, BANK OF GHANA


OVERVIEW

J. S. ADDO is a banker and present Chairman of Prudential Bank Limited. Prior to his present position, Mr Addo was the Chairman and Managing Director of the National Investment Bank from 1973 to 1978. He was the Governor of Bank of Ghana from 1983 to 1987 before becoming Chairman of Ecobank Ghana Limited from 1990 to 1996.

On retirement from NIB, Mr Addo set up a consulting firm, J. S. Addo Consultants Ltd., and continued to offer services to the banking system in Ghana and abroad. As a management consultant and Executive Chairman of J. S. Addo Consultants Ltd, Mr. Addo has consulted for many other institutions including: CIMAO Lome, UNIDO, and the World Bank.

He also provided consultancy services to small and medium scale enterprises until he was appointed Governor of the Bank of Ghana in 1983. Mr Addo was very instrumental in the restructuring of the rural banks and preparation of the feasibility report culminating in the establishment of the ARB Apex Bank.


NET WORTH SUMMARY

Addo owns 76,208,525 numbers of shares which amounts to a 24.82% stake in Prudential Bank through his management consulting firm J. S. Addo Consultants Limited.

Prudential Bank grew its deposits by 21% from GH¢459.4 million at the end of Year 2011 to GH¢555.1 million at the end of Year 2012. Time and savings deposits which together accounted for about 58% of total deposits were the main source of this growth.

The total assets of the Bank also grew by 23% from GH¢549.7 million at the end of Year 2011 to GH¢676.6 million at the end of Year 2012. This growth was funded by deposits, borrowings and shareholders’ funds.

The Bank has three subsidiary companies – PBL Properties Limited, Prudential Securities Limited and Prudential Stockbrokers Limited.

Currently he is a Fellow of the Chartered Institute of Bankers, the Board Chairman, Prudential bank Ltd., Board Member Total Ghana Ltd., Board Member Enterprise Fund Group.


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