Absa Bank Ghana appointed Stephen Ato Frimpong as board chair with effect from 1 October. He succeeded Frances Adu-Mante, whose term ended on 30 September. The appointment moves an existing independent director into the leadership of the bank’s board. Absa did not disclose any related change to executive management or strategy.
Frimpong joined Absa Bank Ghana’s board as an independent non-executive director on 1 March 2021. He has chaired the audit committee and the social, sustainability and ethics committee. He previously chaired the risk committee and served on committees covering remuneration, technology, cybersecurity and payment systems. The bank’s public board profile now identifies him as chairman.
GOVERNANCE EXPERIENCE SHAPES THE APPOINTMENT
Before retiring in 2020, Frimpong was vice-president and chief audit executive at Kimberly-Clark in the United States. In that role, he led the company’s global internal-audit function and supported compliance and ethics investigations. His professional background also includes finance, risk management, data privacy and information technology.
Frimpong holds a commerce degree from the University of Cape Coast and a master’s degree in accounting from the University of Texas at Austin. He is a certified public accountant and a certified management accountant. The board appointment therefore places an audit and controls specialist at the head of the bank’s governance structure.
SUCCESSION FOLLOWS SIX-YEAR CHAIR TENURE
Adu-Mante joined the board as an independent non-executive director in September 2017 and became chair in January 2020. Her departure ended more than six years leading the board. Absa thanked her for her service but did not identify a further role for her at the institution.
The change gives Frimpong responsibility for board oversight as Ghanaian banks manage digitalisation, cyber risk and regulatory demands. No new financial targets, capital plans or operating changes were announced with the appointment. The next substantive milestones will be updated board committee assignments and any governance priorities disclosed in Absa Bank Ghana’s next corporate or financial reporting.