Board Members

Mr. Ras A. Boateng
Board Chairperson

Mr. Ras A. Boateng, CFA is a top level professional with over twenty years of broad management experience in Insurance, Fund Management and Investment Banking.
Until May 2010, Ras was the Chief Executive Officer of the National Health Insurance Authority (NHIA) where he served as the key architect and builder of Africa’s first successful social health insurance program.
Prior to joining the NHIA, Ras had held other executive positions such as Deputy Director General (SSNIT -Ghana), Vice President and Director of Investments (Hanover Investments, Inc – USA), Vice President, Debt Capital Markets (Paine Webber Inc., USA), Actuarial Associate, Group Pension & Employee Benefit Services (Connecticut General life Insurance Company—CIGNA, USA).
Ras was educated at the Massachusetts Institute of Technology – MIT, where he earned an (MSc. Management with concentration in Finance and Applied Economics); (BSc. Industrial Engineering & Applied Mathematics); University of Illinois – Urbana Champaign (Post Graduate Certificate, Investment Analysis and Portfolio Management).

Mr. Ras A. Boateng, CFA is a top level professional with over twenty years of broad management experience in Insurance, Fund Management and Investment Banking.
Until May 2010, Ras was the Chief Executive Officer of the National Health Insurance Authority (NHIA) where he served as the key architect and builder of Africa’s first successful social health insurance program.
Prior to joining the NHIA, Ras had held other executive positions such as Deputy Director General (SSNIT -Ghana), Vice President and Director of Investments (Hanover Investments, Inc – USA), Vice President, Debt Capital Markets (Paine Webber Inc., USA), Actuarial Associate, Group Pension & Employee Benefit Services (Connecticut General life Insurance Company—CIGNA, USA).
Ras was educated at the Massachusetts Institute of Technology – MIT, where he earned an (MSc. Management with concentration in Finance and Applied Economics); (BSc. Industrial Engineering & Applied Mathematics); University of Illinois – Urbana Champaign (Post Graduate Certificate, Investment Analysis and Portfolio Management).
Ras was first Ghanaian awarded the CFA Charter, he significantly influenced the selection of Accra as the sole CFA examination centre for West Africa and served on the CFA examination board as a grader of CFA professional examinations from 1997 until 2008. He co-chaired the National Bond Market Development Committee whose work culminated in recommendations to the Ghanaian government for sovereign credit rating, a global bond issue and a central securities depository (CSD) of the Ghana Stock Exchange. Ras serves as a Director on the Boards of Millennium Insurance Company, and Universal Merchant Bank.
He is a member of the Chartered Financial Analysts Institute and a member of the Boston Securities Analysts Society. Ras is an avid reader of history, philosophy and social development.

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Mr. Benjamin Kwabla Amenumey
Acting Chief Executive Officer

Benjamin has been the Chief Operating Officer of UMB since the beginning of February, 2016 and as of February 1, 2019, he has been Acting Chief Executive Officer of the Bank.
Benjamin brings to the role his highly specialized knowledge of Banking Operations. He has over 21 years’ experience in Banking Operations, Internal Control, Treasury and Treasury Operations.
He previously worked with Agricultural Development Bank and Barclays Bank Ghana Limited in various roles in Trade Services, Reconciliation, Remittances, SWIFT, Back Office Support, Treasury Operation, Operations Support for Consumer Banking, Corporate Banking, Payments, Cards Operations Unit, Cash Management Unit, and Treasury and Money markets activities, Properties and Procurement among others.

Benjamin has been the Chief Operating Officer of UMB since the beginning of February, 2016.
Benjamin brings to the role his highly specialized knowledge of Banking Operations. He has over 21 years’ experience in Banking Operations, Internal Control, Treasury and Treasury Operations.
He previously worked with Agricultural Development Bank and Barclays Bank Ghana Limited in various roles in Trade Services, Reconciliation, Remittances, SWIFT, Back Office Support, Treasury Operation, Operations Support for Consumer Banking, Corporate Banking, Payments, Cards Operations Unit, Cash Management Unit, and Treasury and Money markets activities, Properties and Procurement among others.

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Mr. Mawuli Hedo
Board Member

Mr. Mawuli Hedo is an Investment Banker and is currently the Chief Executive Officer of The FirstGroup Ghana Ltd.
FirstGroup is a Management Consultancy Firm and a Private Equity Company with investment concentration in Media, Finance and Banking, Insurance, Real Estate, ICT among others.
Prior to joining FirstGroup Ghana, Mawuli was the CEO of FirstBanC Financial Services, a leading Investment Banking Firm in Ghana. He worked with Strategic African Securities Finance Group prior to FirstBanC. He has been involved in many Corporate Finance deals on the Ghana Stock Exchange.

Mr. Mawuli Hedo is an Investment Banker and is currently the Chief Executive Officer of The FirstGroup Ghana Ltd.
FirstGroup is a Management Consultancy Firm and a Private Equity Company with investment concentration in Media, Finance and Banking, Insurance, Real Estate, ICT among others.
Prior to joining FirstGroup Ghana, Mawuli was the CEO of FirstBanC Financial Services, a leading Investment Banking Firm in Ghana. He worked with Strategic African Securities Finance Group prior to FirstBanC. He has been involved in many Corporate Finance deals on the Ghana Stock Exchange.
He led the team in the marketing of the first retail bond in Ghana; the Government of Ghana’s Golden Jubilee Bonds. The Marketing of the Bonds took him to the United Kingdom, (UK), USA, Germany, and Canada where the bonds were marketed to Ghanaians in the Diaspora.
In June 2008, Mawuli made a presentation to the members of Parliament at Ghana’s Parliament House to defend the need for raising local retail finance for developmental projects. Mawuli holds an MSc in Finance.

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Mr. Joseph Tackie
Board Member

Mr. Joseph Tackie has over 25 years practical experience in working with the Private Sector and Small and Medium Scale Enterprises (SMEs) in Ghana and has a field based understanding of SME development and its role in enhancing livelihoods and the relevant macro-economic and international issues impinging on SME development.
Mr. Tackie is currently the CEO of the National Medium-Term Private Sector Development Strategy (PSDS II) having previously served as the Coordinator of the Trade Sector Support Programme (TSSP) and the Industrial Sector Support Programme (ISSP) at the Ministry of Trade and Industry.

Mr. Joseph Tackie has over 25 years practical experience in working with the Private Sector and Small and Medium Scale Enterprises (SMEs) in Ghana and has a field based understanding of SME development and its role in enhancing livelihoods and the relevant macro-economic and international issues impinging on SME development.
Mr. Tackie is currently the CEO of the National Medium-Term Private Sector Development Strategy (PSDS II) having previously served as the Coordinator of the Trade Sector Support Programme (TSSP) and the Industrial Sector Support Programme (ISSP) at the Ministry of Trade and Industry.
He is the Chairman of the recently launched Ghana Commodity Exchange (GCX), member of the Board of Directors of the National Board for Small Scales Industries (NBSSI), member of the Steering Committees of the Ghana Skills and Technology Development Programme (GSTDP) and the Support to Private Sector Development Programme at the Royal Danish Embassy.
As an accomplished entrepreneur Mr. Tackie is the Founder and Chief Executive Officer of Global Entrepreneurship Solutions, Meaty Foods Limited, and Co-Founder and Executive Director of Small Business Development Foundation.
As a Business Consultant, Mr. Tackie had extensive engagement in consulting at O.I.M International B.V. (Cape Town, SA) in Organizational Structuring and Re-structuring, Strategic Human Resources Development, Development of Codes of Conduct and Monitoring Mechanisms, Leadership Training and Coaching amongst others.
Mr. Joe Tackie has tremendous experience in corporate governance and boardroom dynamics and serves on several Boards across industries.
He is an Adjunct Lecturer in Entrepreneurship Strategies at the Graduate Business School of the Central University College and has delivered several seminars and talks on Entrepreneurial Leadership and Innovation. He is a distinguished speaker at several international conferences.
Mr. Tackie is a Doctoral Candidate for Business Administration and Masters in Leading Innovation and Change and holds a B.Sc. (Hons) in Agriculture and Executive MBA in Entrepreneurial Management. He is a member of Ghana Association of Consultants.

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Mr. Menson Torkornoo
Board Member

Mr. Menson Torkornoo was the Managing Director and Chief Executive Officer of Amalgamated Bank Limited (now Bank of Africa, Ghana).Mr. Torkornoo was also the Deputy Managing Director prior to becoming the substantive Managing Director.
He joined Amalbank in June 2006 with over 10 years banking experience as the Head of Foreign and International Operations at the then Oceanic Bank International PLC of Nigeria. Mr. Torkornoo had a stint with Stoy Hayward, Chartered Accountants, the 7th largest Accounting Firm in London for six months in 1989.

Mr. Menson Torkornoo was the Managing Director and Chief Executive Officer of Amalgamated Bank Limited (now Bank of Africa, Ghana).Mr. Torkornoo was also the Deputy Managing Director prior to becoming the substantive Managing Director.
He joined Amalbank in June 2006 with over 10 years banking experience as the Head of Foreign and International Operations at the then Oceanic Bank International PLC of Nigeria. Mr. Torkornoo had a stint with Stoy Hayward, Chartered Accountants, the 7th largest Accounting Firm in London for six months in 1989.
He is a Chartered Accountant (CA Ghana) and a Chartered Banker ACIB, Chartered Institute of Bankers, Nigeria (CIBN).
He also holds a Post Graduate Diploma in Management Sciences and MBA in Banking and Finance both at Enugu State University of Science and Technology in Nigeria. He is also a Fellow of the Board Room Institute (FBI).

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Mr. Ken Tshribi
Board Member

Mr. Ken Tshribi is a seasoned Lawyer with considerable experience in the areas of corporate law, projects, banking, investments, international transactions, commercial, mining law, company secretarial as well as corporate ethics and compliance.
Ken obtained his qualification as a Solicitor and Barrister-at-Law in 1984 in Ghana. He is also a Solicitor of England and Wales. Ken spent 13 years in the banking industry where he played key roles as in-house counsel advising on corporate legal matters, financial structuring and transactions, syndicated financing and investments.

Mr. Ken Tshribi is a seasoned Lawyer with considerable experience in the areas of corporate law, projects, banking, investments, international transactions, commercial, mining law, company secretarial as well as corporate ethics and compliance.
Ken obtained his qualification as a Solicitor and Barrister-at-Law in 1984 in Ghana. He is also a Solicitor of England and Wales. Ken spent 13 years in the banking industry where he played key roles as in-house counsel advising on corporate legal matters, financial structuring and transactions, syndicated financing and investments.
In 1996, Ken moved to the mining industry and played pivotal roles in the areas of cross-border transactions, projects, project finance, joint ventures, mergers and acquisitions, stock exchange issues, dispute resolution and cross-border mining rights issues. Ken was the global head of AngloGold Ashanti’s global regulatory compliance and corporate ethics based in Johannesburg, South Africa until October 2012.
Ken is a member of the Society of Corporate Compliance and Ethics. He was previously involved in teaching of law and legal journal editing.

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Dr. Kwame Ampofo Kusi
Board Member

Dr. Kusi was appointed to the UMB Board of Directors on June 1, 2017. He was the Chief Executive Officer of uniSecurities Ghana Limited. Prior to that he was the Head of Operations at SIC Financial Services, having previously worked with SDC Finance Company Limited as the General Manager, Brokerage Services. Dr. Kusi also worked with Social Security & National Insurance Trust (SSNIT) as Corporate Planning Officer and Deputy Treasurer before joining NTHC Limited as the Head of Corporate Finance & Research.

Dr. Kusi holds a PhD in Finance from UGSM-Monarch Business School, Zug-Switzerland, a MSc Banking & Finance from University of Lausanne, Switzerland, and an MBA Financial Management from South Bank University, London. He also holds a BSc. Computer Science degree from K.N.U.S.T. He served as a Board member of Bank of Ghana from 2016 to 2017.
Dr. Kusi is a certified Treasury Analyst, U.K., a Fellow of the Global Academy of Finance & Management, U.K. and a certified Valuation Analyst, USA. He is married with 4 children.

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Dr. William Mensah
Board Member

Dr. Mensah was appointed to the UMB Board of Directors on June 1, 2017. Dr. Mensah is the Deputy Chief Executive, in charge of Finance and Administration of Ghana Cocoa Board, having held this position since 2005. He has over 37 years of working experience in the Public Sector with over 25 years in senior managerial positions.

Dr. Mensah has in-depth knowledge of corporate finance, financial analysis, budgetary control, international marketing and performance management. A strong advocate of effective organisational management, business planning and strategic positioning, Dr. Mensah has considerable experience working in the public sector and with public sector and private sector clients. He has successfully concluded specialist assignments for the public sector, Government departments, state agencies and related bodies.
Dr. Mensah served on the HFC Bank Board from 2012 to 2014, contributing immensely to the strategic direction of the Bank. He also serves as a member of the Tema Chemicals Ltd. board and Joy Oilfields Ltd. board. Dr. Mensah holds a Doctorate of Business Administration degree from Swiss Management Center (SMC) University (2014), and a Master of Business Administration Degree from the University of Salford (2001) in the United Kingdom. He is a member of the Institute of Chartered Accountants (Ghana)-(1990) with 27 years of post-qualification experience as a Chartered Accountant. He is a member of the Chartered Management Institute (CMI) (UK) and a member of Chartered Institute of Personnel and Development (CIPD) (UK) and also an Associate member of Certified Fraud Examiners (CFE).

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Mrs. Brenda Semevo Afari
Company Secretary

Mrs. Brenda Semevo Afari joined Universal Merchant Bank in April 2015, after seven very successful years as Chief Legal Affairs and Corporate Governance Officer at the Forum for Agricultural Research in Africa, a technical arm of the African Union Commission responsible for implementing Pillar IV of the Comprehensive African Agriculture Development Program (CAADP Pillar IV).
She has considerable experience in the Ghanaian financial sector having worked with Standard Chartered Bank Ghana Limited for 4 years and for another three years with Awoonor Law Consultancy a reputable firm of Corporate and Investment Lawyers.

Mrs. Brenda Semevo Afari joined Universal Merchant Bank in April 2015, after seven very successful years as Chief Legal Affairs and Corporate Governance Officer at the Forum for Agricultural Research in Africa, a technical arm of the African Union Commission responsible for implementing Pillar IV of the Comprehensive African Agriculture Development Program (CAADP Pillar IV).
She has considerable experience in the Ghanaian financial sector having worked with Standard Chartered Bank Ghana Limited for 4 years and for another three years with Awoonor Law Consultancy a reputable firm of Corporate and Investment Lawyers.
She has supported institutions in obtaining and administering loans and / or grants from financial institutions and international development organizations including the World Bank and European Union Commission and has facilitated the efficient running of Boards across the continent.
Brenda is a Lawyer with 15 years hands on experience in the general practice of law and corporate governance. Specialized areas of law include business/commercial, investment and corporate law, legal aspects of banking and finance and international non-profit organizations. Her work has taken her to over 15 countries in Africa and Europe.
She holds an LLM in Banking and Finance from the London School of Economics and Political Science, an LLB from the University of Ghana and GCE O and A Levels from Achimota School. She is also in the final stage of gaining membership to the Institute of Chartered Secretaries and Administrators, London UK and is a Chevening Scholar.

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