The Mfund product of investment bank Databank has attained a milestone of GHS1 billion assets under management.
In a message to its clients, the management of Databank, co-founded by Finance Minister Ken Ofori-Atta, said: “Dear valued client, we’ve got GHS1,000,000,000 reasons to celebrate Databank Mfund”.
“A huge thank you to our cherished clients for helping us reach this significant milestone of GHS1 billion in assets under management”, the company said.
Founded in April 1990, Databank’s mission has been to empower its customers to achieve financial independence by promoting financial literacy and offering a diverse range of investment products.
To deliver on this mission, Databank offers corporate finance, brokerage, fund management and research services to local and foreign individuals, multinational companies, pension trusts and institutional investors for the ECOWAS sub-region.
Through its brokerage wing, investors can tap into fixed-income investments (including treasury bills), trade shares listed on the Ghana Stock Exchange and enjoy corporate finance advisory services.
Through Databanks asset management wing, the company said investors can access “more mutual funds than any other investment bank in Ghana (Epack, MFund, BFund, ArkFund and EdIFund), institutional fund management for corporate, benefit and endowment funds, pension fund management and private wealth management services”.
It notes on its website that “our award-winning research department provides institutions and individuals with the latest research on the Ghana Stock Exchange, its listed companies, the Ghanaian economy and other relevant economic and financial matters”.
Databank currently has 19 locations across the country.
The main branches are in Accra (Head Office), Ho, Koforidua, Kumasi, Takoradi, Tamale, Tema and Sunyani.
There are also 10 partner locations situated within GTBank branches in Accra, Ashaiman, Cape Coast, Tarkwa and Tamale, as well as a partner location in the UBA branch located at the Kwame Nkrumah University of Science and Technology (KNUST).
Benjamin Gogo (Chairman)
Mr. Ben Gogo is an experienced financial consultant.
He comes to the Board with over 30 years’ experience in Banking, Investment Consulting and Project Management and corporate governance.
He holds an MSc. in Economics from the North Carolina State University, USA.
Since 2003, Mr Gogo has served as Board Chairman for the MFund Board. He is also Board Chairman for the Secure Pensions Trust Board.
Kojo Addae-Mensah (Executive Director)
Kojo Addae-Mensah is the CEO of the Databank Group.
He is an accomplished banker with over two decades of banking experience. He has worked in Multinational banks like Standard Chartered and Barclays Bank, where he played various roles across Africa. He was also the Chief Operating Officer of GCB Bank before he took up his current role as the Group CEO of Databank, Ghana’s premier and biggest Investment Bank. Outside of work, Kojo is a national TV pundit and hosts various shows on radio from time to time. He is a Director of the Changing Lives Endowment Fund, aimed at supporting bright and needy children.
Kojo assumed the role of director on the Board in 2014. His directorship also extends to the following boards: Changing Lives Endowment Fund, Databank Asset Management Services Ltd, Databank ArkFund Ltd, Databank Balanced Fund, Databank Brokerage Ltd, Databank Epack Investment Ltd, Databank Financial Services, Databank MFund Ltd and The Databank Foundation.
Stephen Adei (Non-Executive Director)
Prof. Stephen Adei is an Economist.
He was a former Director-General and Rector of the Ghana Institute of Management and Public Administration (GIMPA) and is currently the chairperson of the National Development Planning Commission. He has also served as a Professor at Ashesi University.
Prof. Adei holds a PhD (International Economics, University of Sydney), MSc (Strathclyde), BSc. (University of Ghana), Bachelor of Divinity (London) and Masters in Theology (UNISA). He is also a Fellow of the Chartered Institute of Marketing (FCIMG).
Prof. Adei joined the MFund Board in 2003 and is a director on several boards including: Accra College of Medicine, Adansi Rural Bank, Ako Estate Ltd, Databank Balanced Fund, Ghana Christian High International School, Ghana Revenue Authority, Judicial Council and the National Development Planning Commission.
Daniel Seddoh (Non-Executive Director)
Dr. Daniel K. Seddoh is a Chartered Accountant.
He is a member of the Chartered Institute of Taxation Ghana. Dr. Seddoh began his career at KPMG and he has extensive experience in the financial services sector – pensions, insurance, banking, finance and leasing among others. Dr. Seddoh is an adjunct lecturer at Pentecost University College Graduate Business School. He previously lectured in marketing at the Graduate Business School of the Central University College. He was also the former Chief Executive Officer of the National Pensions Regulatory Authority (NPRA).
Dr. Seddoh earned his MBA at the Manchester Business School and his doctorate in Business Administration at the University of Bradford, all in the United Kingdom.
Apart from his membership on the MFund Board, Dr. Seddoh is also a director on the Ghana Deposit Protection Corporation, Kasapreko Company Ltd and Riscovery Ltd boards.
Preba Greenstreet (Non-Executive Director)
Preba Arkaah Greenstreet is a legal practitioner.
She has over 25 years’ standing as a seasoned lawyer, both at the Ghana Bar and the England and Wales Bar. Preba worked at Guinness Ghana Breweries Limited (GGBL) for 4 years. Prior to that, she worked for GGBL’s parent company Diageo Plc UK for 4 years as Assistant Regional Counsel, adding significant value to Diageo Africa’s P&L. Preba also has 9 years collective banking, finance and tax experience from HFC Bank and German Technical Cooperation (GTZ).
In addition to being on the MFund Board since 2014, she is also a director on the Prudential Life Insurance (Ghana) and the Nyaho Medical Centre boards.