Finance Minister Dr. Cassiel Ato Forson says the Agricultural Development Bank (ADB) is set to be recapitalized in 2026 as part of government’s strategy to strengthen the bank’s capacity to finance the agricultural sector.
The planned capital injection is expected to enhance ADB’s ability to support farmers, agribusinesses, and players across the agricultural value chain.
It also aligns with the government’s broader push to reposition agriculture as a cornerstone of economic transformation through targeted investment and structural reforms.
Dr. Ato Forson disclosed the recapitalization plan during the inauguration of a newly constituted nine-member Board of Directors for ADB, which is now chaired by Kenneth Kwamina Thompson, former CEO of Dalex Finance.
“No country develops without sustained agricultural development. I have therefore tasked the new board to remain focused and guided by their primary mandate—serving Ghana’s agricultural sector. I want to assure the board and management that I will capitalize ADB next year,”Dr. Ato Forson wrote in a Facebook post.
The nine member board includes Edward Ato Sarpong as Managing Director, with members Andrew Dari Chiwitey, Siisi Essuman-Ocran, Dr. E. Prince Arhin, Misbahu Mahama Adams, Wing Commander Samuel J.A. Allotey, Courage Akanwunge Asabagna, and Abdul Nasir M. Saani.
The bank’s leadership overhaul comes at a time when stakeholders have called for a renewed commitment to ADB’s founding mandate.
Established as a specialized institution to finance agriculture, the bank has faced sustained pressure to realign its operations with national food security priorities and support for rural economic growth.
The new board is expected to provide strategic direction as the bank expands its role in driving agro-industrialization, import substitution, and inclusive growth.