Governor’s Speech at the 30th Anniversary Celebrations of National Banking College
Source: bank_of_ghana
Date: 2024-04-26

30TH ANNIVERSARY CELEBRATIONS – NATIONAL BANKING COLLEGE SPEECH BY DR ERNEST ADDISON GOVERNOR, BANK OF GHANA & CHAIRMAN, GOVERNING COUNCIL, NATIONAL BANKING COLLEGE READ ON HIS BEHALF BY DR MAXWELL OPOKU-AFARI THE FIRST DEPUTY GOVERNOR, BANK OF GHANA & REPRESENTATIVE OF THE SUBSTANTIVE CHAIRMAN, GOVERNING COUNCIL, NATIONAL BANKING COLLEGE KEMPINSKI HOTEL GOLD COAST CITY, ACCRA 26TH APRIL 2024 Esteemed Council Members Principal of the National Banking College Managing Directors of Banks and other Stakeholders Distinguished Invited Guests Faculty and Staff, and Members of the Media 1. Good morning, Everyone. It is a pleasure and an honour to join you today to celebrate a significant milestone, that is, the 30th Anniversary of the National Banking College (NBC). Before I proceed, let me thank the Principal, Madam Gloria Quartey, and her management team for the excellent organization of this event. I also wish to congratulate past and present members of the Governing Council , Principals and Faculty heads on this occasion. This is no mean achievement because over the past three decades, the NBC has diligently upheld its mandate to provide capacity building to banks, non-bank financial institutions, as well as other enterprises in Ghana and across the sub-region. NBC Historical Perspectives 2. For us to appreciate the enormous amount of work done by the College, let me walk you down memory lane. The journey began with a vision in the early 1990’s with Ghana undergoing reforms in the financial sector, the need for professional banking training and development to help address challenges and enhance efficient operations became evident. The Bank of Ghana, under the Governorship of the late Dr. Godfred Agama, and with support from the Ministry of Finance, founded the College on the 9th of April 1994 as a private entity limited by guarantee. The College was set up as an autonomous non -profit-making institution and charged with developing training programmes for bankers at the professional and managerial levels. 3. The core mandates bestowed on the College included: • Planning, promoting, and providing education and training in the operations and management of banking and financial institutions, • Organizing conferences, seminars, conducting research and consultancies, and, • Awarding degrees, diplomas, certificates, and other qualifications. 4. The establishment of NBC did not end there. The Bank of Ghana took a keen interest in developing permanent institutional arrangements for its operationalization. Firstly, the Bank made available its property located at the Airport Residential Area to house the new institution. Secondly, the Bank engaged the Reserve Bank of India (RBI) and the National Institute of Bank Management (NIBM) at Pune, India to provide capacity and institutional support for the College. And, finally, the Bank of Ghana provided funding to cater for all the College’s operational needs at that time. 5. After consultations with similar institutions , the Bank adopted the funding model of NIBM and decided to share the operational costs of the College on a 40%-60% basis: 40% from the central bank and 60% from the universal banks. As the number of universal banks increased over the years, the allocations changed to 35% for the Bank of Ghana and 65% for the universal banks. 6. Ladies and Gentlemen, in furtherance of operationalizing the institution, Mr. Emmanuel Asiedu Mante of blessed memory, was seconded from the Bank of Ghana as the first Principal of the College to implement the vision, supported by a faculty of seven (7) members with proven operational experience from the commercial, merchant, and development banks. In 1996, Mr. Singh Gupta of the NIBM joined the College on secondment to offer technical support to the newly appointed faculty, together with infrastructural support from institutions such as the World Bank. 7. The first Governing Council of the College comprised eight (8) members, chaired by the then Governor, Godfred Kportufe Agama. To provide administrative support, staff from the Bank of Ghana went on secondment to the College . Thirty years on, seven (7) Governing Council Chairs, and seven (7) Principals have served the College. The Governing Council has been instrumental in shaping the overall vision, mission, and strategic goals of NBC over the years. 8. The Governing Council, together with the various Management teams, has selflessly managed affairs at the College in line with best practices and ensured its continued growth and relevance in the industry. In each passing year, the institution has navigated through various economic landscapes and regional and global transformations to become stronger and more impactful. Indeed, the continued success of NBC attests to its resilience and dedication. More recently, issues that emerged from the banking sector c lean up exercise necessitated a review of NBC’s strategies to actuali se its vision of becoming a world -class institution, delivering effective training in banking and finance, and thus playing a leading role in the capacity building of employees in the financial sector. 9. In the context of recent developments in global economics and then the Ghanaian banking industry, the Governing Council, approved a five -year strategic roadmap spanning 2021 to 2026, and empowered Management of NBC to define a clear and collective direction to achieve the mandate. In line with this, the College has expanded course offerings, introduced new programmes, enhanced infrastructure, and ensured continuous investment in faculty development . Today, as we commemorate NBC’s 30th anniversary, we will not only celebrate past achievements, but also look forward to a future filled with promise, innovation, and continued growth. 10. Over the past 30 years, a strong Governance and Oversight structure has been established and implemented by the Governing Council. This has contributed to maintaining the highest standards of integrity, customer focus, excellence, teamwork, professionalism, and fairness , and ultimately, sustaining operations of the College . Indeed, the Council remains deeply committed to upholding its governance role with utmost diligence and responsibility . Through the setup of specialised Committees (such as Finance and Administration, Technical, and Audit and Governance ), the Council plays a pivotal role with diligent oversight in all aspects of operations . This has ensured that the Banking College operates within the legal and regulatory frameworks, safeguarding its reputation and building stakeholder trust. Transparency, accountability, and ethical conduct are other hallmarks that the Council holds in high regard, and all these have be come embedded in the governance framework . Additionally, NBC has built partnerships over the years and collaborated with other stakeholders to enrich the educational offerings, faculty development, and student opportunities. Current Achievements 11. As we celebrate the College’s exceptional progress, let me highlight remarkable achievements chalked over the past 30 years. Through innovative programmes and strategic partnerships, NBC has equipped countless professionals with the knowledge and skills necessary to thrive in the ever -evolving financial services sector. For instance, the number of programmes offered by the College has increased from 69 in 2018 to 165 in 2023, while participation jumped from 2,828 banking professionals and non-bank participants to 5,751 over the same period. Additionally, • The College has upgraded its IT infrastructure to improve programme content and delivery that match up with the expectations of stakeholders, as well as monitoring and evaluation of training activities. • NBC’s commitment to excellence has earned it recognition as a leading institution in financial services education, with trained participants serving as pillars of expertise, integrity, and professionalism in the country’s financial sector. • The College has spearheaded the ongoing annual corporate governance certification programme for boards of directors and executive teams of universal banks, rural banks, and other financial institutions. • The College also continues to diversify its programme offerings by engaging in consultancy services in areas such as risk management, board evaluations, and agribusiness, in collaboration with institutions like GIRSAL and AGRA. In addition, the College faculties undertake research of financial institutions, to develop programmes that address uniquely identified challenges. • As part of efforts to incorporate best practices, expert knowledge and programme relevance, the College has established partnerships with subject matter experts and institutions, both locally and internationally , to bring the much-needed exposure to the doorsteps of all stakeholders. Way Forward for NBC 12. Our commitment to infrastructural development cannot be overemphasized. Continuous improvement in the physical facilities, leveraging technology, and research resources for participants has enhanced the College’s appeal as an excellent world - class learning environment that fosters growth, innovation, and success. 13. In improving its operations, the College is also working assiduously to ensure revenue sustainability through internally generated funds. The NBC’s strategic plan provides a clear roadmap to the year 2026, and the Governing Council believes that with the needed support, Management will efficiently execute the plan. 14. Esteemed Guests, this momentous occasion of celebrating the 30th anniversary of the National Banking College calls for unity of purpose and the embracement of the shared vision to shape and propel NBC towards greater heights. The commitment to innovate, adapt, and evolve to meet the changing needs of the banking and finance industry should be at the forefront of all our endeavours. This will help us grow a strong and well-trained workforce in the financial sector to ensure stability and growth of the economy. As we look to the future, I am confident that we will take giant strides and create a lasting impact that will shape future leaders of the banking and finance industry. 15. In conclusion, Ladies and Gentlemen, I want to express my profound gratitude to all stakeholders - industry leaders, regulators, local and international institutions, faculty, staff, and participants - for their unwavering support, dedication, and collaboration over the past 30 years. Your contributions have been invaluable in shaping NBC's success story and legacy. The General Council will further strengthen the governance structures and uphold the highest standards of ethical conduct to ensure that NBC remains a leader in banking and finance education, setting benchmarks for excellence and innovation. Long live the National Banking College! Long live Ghana! May God Bless Us All. Thank you.