Gov’t appoints Naomi Wolali Kwetey as Acting MD of CBG

Seasoned banker, Dr. Mrs. Naomi Wolali Kwetey has been nominated by President John Dramani Mahama as the Acting Managing Director of state-owned Consolidated Bank Ghana Ltd (CBG).

The nomination, effective March 26, 2025, was officially communicated in a letter signed by the Minister for Finance, Dr. Cassiel Ato Forson, and addressed to the Board Chairman of CBG, with attention to the Company Secretary. The letter also announced the appointment of Ms. Sheila Azuntaba as Deputy Managing Director.

“You [Board] are required to regularise the appointments in compliance with the Companies Act, 2019 (Act 992) and the Bank’s Constitution,” the letter stated.

Dr. Mrs. Kwetey brings over three decades of experience in banking and financial services, having held key positions at Ecobank Ghana and the erstwhile Trust Bank, which was acquired by Ecobank in 2011. She is a Fellow of the Chartered Institute of Bankers (FCIB) and a Chartered Dealer (ACI), with a strong background in corporate banking, treasury management, credit, and strategic management.

Her impressive career includes roles such as Deputy Head of Credit Administration, Treasurer, Head of Financial Institutions and Markets, and Business Manager for Financial Institutions and International Organisations. She most recently served as Head of Customer Experience at Ecobank Ghana, where she also oversaw customer experience operations across five West African countries.

Renowned for her ability to drive organisational transformation and sustainable growth, Dr. Kwetey holds a Doctorate in Business Administration (DBA), a Master of Arts in Business and International Banking and Finance, and a Bachelor of Arts in Economics.

She is also the spouse of Mr. Fifi Fiavi Kwetey, General Secretary of the governing National Democratic Congress (NDC).

Alongside her, Ms. Sheila Azuntaba steps into the role of Deputy Managing Director at CBG.

A seasoned banker and entrepreneur, Ms. Azuntaba previously served as Assistant Vice President at Citigroup’s Global Transaction Services Unit in Nigeria. There, she contributed to product development, marketing, and sales strategies for the Nigerian market.

Her cross-border banking experience spans Kenya and Ghana, where she managed major financial portfolios in both investment and commercial banking sectors. She is the founder of Innovative Microfinance Ltd and has championed initiatives aimed at empowering financially excluded communities, especially women.

Ms. Azuntaba holds an MBA in Finance from The Strathclyde Business School in Glasgow, Scotland, and a BA (Hons) in Marketing from the University of Westminster, London. She is also a former Miss Ghana, crowned in 1996.

The two take over from Daniel Wilson Addo and Nana Ama Poku and Thairu Ndungu, who served as Managing Director, Deputy Managing Director (Corporate Resources), and Deputy Managing Director (Operations), respectively.