The Chairman of the Professional and Managerial Staff Union (PMSU) of the Agricultural Development Bank PLC (ADB), Mr. James Obeng-Gyan, has raised questions about the bank’s financial trajectory, insisting that its substantial growth in assets must translate into sustainable profitability and stronger support for Ghana’s agricultural sector.
According to financial figures presented at the National Executive Council meeting of PMSU/Local Union, ADB’s total assets increased from approximately GH¢734.6 million in 2009 to GH¢1.789 billion in 2025, representing more than 24 times growth. However, he said this expansion was accompanied by years of financial difficulties that demanded serious institutional introspection.
The figures cited by the union chairman showed that retained earnings of GH¢54.3 million in 2014 deteriorated into accumulated losses from 2015, reaching approximately GH¢2.056 billion in 2024. The bank reportedly recorded a net loss of GH¢828.8 million in 2023, before posting a profit before tax of GH¢580.8 million and net profit of GH¢367.3 million in 2025, with accumulated losses improving to approximately GH¢1.747 billion.
Speaking on the theme, “Safeguarding ADB’s Institutional Sustainability and Jobs in the Fulfilment of Its National Development Mandate,” Mr Obeng-Gyan described the reported 2025 performance as encouraging, but insisted that sustained recovery required prudent lending, stronger risk management, effective internal controls and accountability. He said financial improvement alone could not substitute for lasting governance reforms.
The PMSU chairman also raised concerns about historical asset disposals and credit arrangements, alleging that some transactions involving properties, rental arrangements and other strategic assets warranted closer examination. He called for credible investigations where necessary, stressing that allegations should be assessed on the basis of documentary evidence rather than speculation.
Mr Obeng-Gyan recalled the union’s opposition to proposed divestiture arrangements and other ownership changes over the years, saying PMSU and the Local Union had made significant sacrifices in their efforts to protect ADB. He maintained that organised labour should be recognised as a strategic partner in safeguarding the institution, rather than treated as an obstacle to management decisions.
He urged the government, the Bank of Ghana and ADB’s Board to support a comprehensive recovery programme covering loan recovery, asset quality, capital adequacy, digital transformation, revenue generation and operational efficiency. He also called for transparency and independent valuation in any proposed share disposal, arguing that ADB’s strategic importance to agriculture and rural enterprise should inform decisions about its ownership and future.
On staff matters, Mr Obeng-Gyan called for meaningful consultation over restructuring, improved conditions of service and fair treatment of employees. He urged management to address outstanding promotions, salary structure implementation, pensioners’ medical care and delayed performance appraisal outcomes, while ensuring that performance expectations reflected available operational resources.
Mr Obeng-Gyan said ADB’s recovery should be treated as a national responsibility, requiring professional management, independent oversight and constructive engagement with organised labour. He called for the protection of the bank’s development mandate, warning that its future should be measured not merely by asset growth, but by its financial resilience, responsible governance and capacity to support Ghana’s agricultural and economic development.
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