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HONOURABLE J. S. ADDO HONOURED WITH LIFE TIME AWARD BY CORPORATE INITIATIVE GHANA
   News: Prudential News

Honourable J. S. Addo, Chairman and co-founder of Prudential Bank Limited was on Saturday June 22nd, 2013 presented with a Life Time Award at the Ghana Banking Awards 2012 event in recognition of his immense contribution to the banking industry in Ghana.

Honourable J. S. Addo was awarded alongside two other industry leaders, Mrs. Stephanie Baeta-Ansah a former MD of HFC Bank and Dr. Kobina Quansah, a former MD of Barclays Bank, all of whom have made significant contributions to the banking industry in Ghana.
 
Receiving the award, Honourable J. S Addo appealed to banks to work together to grow the export sector of the economy, particularly the SMEs, to help raise the middle income status of the country. He said that this would help strengthen our currency and contribute to economic growth.
 
The veteran Banker’s career started at the Bank of Ghana in 1958 when he joined the Bank of Ghana as a Probationary Officer. He was confirmed as a permanent officer in 1960 following a successful training period. He continued his training at Glyn Mills & Co, a private commercial bank in England, the Bank of England and the Bundesbank in Germany. He then returned to the Bank of Ghana in 1961.
 
By dint of hard work and discipline, Honourable J. S. Addo was appointed Secretary to the Board of Directors in 1963 at Bank of Ghana, Executive Director in 1965 and Deputy Governor in 1968. In 1973, Honourable J. S. Addo was appointed Chairman and Managing Director.  During his tenure at NIB, he persuaded the government to amend the Act establishing the Bank to enable the Bank operate a commercial banking unit to support its investment banking operations.
 
Honourable J. S. Addo retired from NIB in 1978 and established an economic and management consulting firm, J.S. Addo Consultants Ltd.
 
In 1983, Honourable J. S. Addo was appointed by the then PNDC government as the Governor of the Bank of Ghana for a term of five years.
 
Honourable J. S. Addo is credited for mooting the idea of Rural Banks in Ghana during his career at the Bank of Ghana with the first one being established in Nyakrom in the Central Region.  Ghana now has one hundred and thirty seven rural banks.  As Governor of the Central Bank, he led a number of delegations and committees for Ghana and participated in the formulation of the IMF/World Bank Structural Adjustment Programme and supervised its implementation.
 
Honourable J. S. Addo served as the first Ghanaian President of the Institute Of Bankers from 1965 to 1977.
 
As a Consultant, he conducted a number of feasibility studies for the establishment of various institutions including Ecobank Ghana Limited where he was appointed as the first Chairman at the inception of the Bank.
 
Other studies include a study on the development of Small and Medium Scale Industrial Enterprises in Ghana, the establishment of an ARB Apex Bank for Rural Banks in Ghana, establishment of financial services company in Ghana by Standard Chartered Bank and the establishment of feasibility study of a National Health Insurance Scheme in Ghana. 
Honourable J. S. Addo has been the Chairman of the Board of Directors of Prudential Bank Limited since the inception of the Bank.
 
Other Chairmanships held by Honourable J. S. Addo include Chairman of the ECOWAS Regional Investment Bank (ERIB), Social Security and National Insurance Trust (SSNIT), Donewell Insurance Company Limited, Starwin (Gh.) Ltd, State Gold Mining Corporation and Fanmilk Limited. 
 
Honourable J. S. Addo was a member of the Council of State from 2004 to 2008 representing the Greater Accra Region.
 
He was President of the Ghana Red Cross Society and member of the International Red Cross and Red Crescent Finance Committee in Geneva, Switzerland.
 
To crown the evening, his Bank, Prudential Bank Limited the Bank he co-founded, at the same Awards Ceremony received eight awards namely Best Bank -Trade Finance, Best Bank - Long Term Loan Finance and Best Bank Consumer Lending, 1st runner up Short Term Loan Financing, 1st runner up IT/Electronic Banking, 1st runner up Retail Banking 2nd runner up Corporate Social Responsibility and 2nd runner up Corporate Banking.

 

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