The Managing Director of GCB Bank PLC, Mr. Kofi Adomakoh, has underscored the significant role that private sector players, including his own bank, play in helping Ghana achieve the United Nations’ 5-Ps of Sustainable Development.
These five pillars—People, Planet, Prosperity, Peace, and Partnership—form the core framework for the country’s sustainable development agenda.
Speaking at the University of Ghana’s 76th Annual New Year School and Conference, Mr. Adomakoh highlighted the need for closer collaboration between the private sector and government to deliver meaningful benefits to all Ghanaians. The conference theme, “Attaining the 5-Ps of Sustainable Development for a Resilient Ghana,” was explored with a focus on the private sector’s contributions to national progress.
Mr. Adomakoh emphasized GCB Bank’s commitment to advancing prosperity in Ghana, particularly by expanding financial access across the country. He pointed to the bank’s efforts to provide financial services in remote areas, empowering small and medium enterprises (SMEs) with accessible digital platforms and promoting financial inclusion initiatives that benefit all segments of the population.
“The transformation we seek is only meaningful when it is inclusive, touching every corner of our nation,” he said. “For instance, just as the M-Pesa platform has transformed businesses in Kenya, Ghana can achieve similar success by fostering a financial ecosystem that empowers every citizen, no matter their geographic location.”
He elaborated on the importance of financial tools that can support local traders, farmers, and entrepreneurs in realizing their full potential. “True prosperity means that Ama, the trader, can scale her business through digital platforms; Kojo, the farmer, can access fair markets; and Zaynab, the seamstress, can save for her children’s future,” he explained.
Turning to the theme of ‘People,’ Mr. Adomakoh acknowledged Ghana’s youthful population as both a significant opportunity and a potential challenge. With 57 percent of the population under the age of 25, he noted that the untapped potential of the youth could become a liability if not nurtured properly.
“We at GCB Bank have taken steps to address this by partnering with institutions like the University of Ghana to promote financial literacy and entrepreneurship programs, particularly in emerging sectors like fintech and agritech,” he said.
The GCB MD also called for greater collaboration between the government and private institutions through public-private partnerships (PPPs). He advocated for joint efforts to develop and modernize key sectors of the economy, including transportation networks, renewable energy access (such as solar mini-grids for rural areas), and e-government initiatives.
Mr. Adomakoh emphasized that by tailoring global lessons to suit Ghana’s unique context, the country can empower small businesses, attract investment, and create opportunities that benefit all Ghanaians. He highlighted the role of businesses like GCB Bank in driving national growth through modern financial intermediation capabilities and digital payment platforms.
The 76th University of Ghana New Year School and Conference, which has been a cornerstone of national development since its inception in 1948, serves as a platform for academia, industry, and policymakers to deliberate on critical issues. This year’s event was chaired by Mrs. Mary Chinery-Hesse, Chancellor of the University of Ghana, and attended by key figures, including Vice President Professor Naana Jane Opoku-Agyemang and Vice Chancellor Professor Nana Aba Appiah Amfo.
Keynote speakers included Dr. Emmanuel Adu-Sarkodee, Group Chairman of CDH Financial Holdings Ltd., and Mr. Santosh Choubey, Founder & Chairman of AISECT.
GCB Bank, with 184 branches and 340 ATMs across Ghana, continues to play a central role in the country’s economic landscape. As Ghana’s premier indigenous bank, it has long been recognized for its contributions to sectors such as oil and gas, agriculture, and commerce, all while modernizing its financial services and reinforcing its corporate reputation both locally and internationally.
Through its brand promise, “Your Bank for Life,” GCB remains committed to its mission of providing inclusive banking solutions that support the economic growth and prosperity of all Ghanaians.