The event, which took place at the Ebenezer Methodist Church in Mankessim on Thursday, September 29, 2022, had many dignitaries gracing it with their presence.
The theme for the 6th Annual General Meeting is: "Providing Sound Financial Support In A Post-Covid Era Amidst Recent Economic Challenges."
The AGM also comes as a great achievement to the company, as it signifies a financial breakthrough from several years of indebtedness.
Speaking to AfricaNewsArenaGh's Nana Kweku Owusu-Aduomi, Mr Ebenezer Ampong Baidoo, the newly elected Chairman (former Board Secretary) applauded the company’s achievements over the years.
Mr Baidoo noted that, he has had the opportunity to take a look at the state of the company in the previous years from a copious report and was surprised at the financial and operational out-turns of the company for the year 2022 which report I believe shall be a cardinal part of this Annual General Meeting.”
He further congratulated the Board of Directors and management of the company for the financial performance in the year ending 2021/2022.
Mr Ebenezer Ampong Baidoo, tasked the Board of Directors of Mankessim Ebenezer Community Co-operative Credit Union Limited to work harder towards making the company a dividend-paying enterprise following this year's AGM.
He explained that leadership and talent development are an integral part of the Co-operative Credit Union’s strategy to dominate the market. Therefore, a robust framework for a leadership pipeline has been developed to guarantee an adequate flow of talent to fill senior roles as part of the Credit Union’s succession management. This includes identifying high potential leaders and implementing tailor-made training and development to enhance their capacity and equip them with the right tools to provide innovative and dynamic leadership.
Commenting on the Mankessim Ebenezer Community Co-operative Credit Union Limited's financial performance, Mr Emmanuel Coffie, former Regional Manager, stated that despite the domestic and global challenges posed by the Covid-19 pandemic, the strong financial performance was underpinned by strong internal collaboration among business units and support functions leading to improved efficiency and revenue growth.
He added that other factors including strong cost control measures leading to an improvement in the Credit Union's cost to income ratio, improvement in staff performance management system and the augmentation of the Union’s leadership in key areas to implement key elements of the Credit Union’s strategy contributed to the sterling performance.
The aforementioned Credit Union assured shareholders that it has deployed a comprehensive enterprise risk management system and continues to use world class consultants and internal experts to stay ahead of the threats posed by cyber security.
As a result, the union has appointed a Chief Digital and Marketing Officer to lead the Credit Union’s digitization efforts. It has also developed a business optimization unit to review and digitalize processes to eliminate human intervention and make the bank nimbler and more responsive.
Mr Coffie added that the Co-operative Credit Union will continue to make substantial investments in digitalization to ensure superior service delivery and derive maximum value for the benefit of customers and stakeholders.
Shareholders participated and contributed at the AGM through a dedicated platform improved its cost to income ratio. The AGM proceedings was monitored by AfricaNewsArenaGh.com.
The shareholders congratulated the Board and management of Mankessim Ebenezer Community Co-Operative Credit Union Limited for the stellar performance despite the ravaging impact of Covid-19 on the economy and for striving to attain this success.
Mankessim Ebenezer Community Co-operative Credit Union Limited's strong performance in 2021/2022 would not have been possible without the measures implemented by the Government of Ghana to combat COVID-19, the professional handling of the pandemic by the health authorities and the observance of the COVID-19 protocols by the public.
At the end of the meeting, new Board executives were elected:
Chairman - Ebenezer Ampong Baidoo
Vice Chairman - David Koomson
Secretary - Matilda Mbeah Mensah:
Treasure - Philomina Sam
Member - Bernard Nyamson
See other photos below:
Source: AfricaNewsArenaGh.com
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