Book On Afare Donkors Historic CAL Bank EGM Nears Release Date


Accra, November 02, 2015 – A book highlighting previously unpublished details of the historic drama that took place in CAL Bank in 2008 is to be released this month

In 2008, corporate Ghana was held spellbound when the founder of CAL Bank, Afare Donkor requisitioned an Emergency General Meeting of the bank with shocking resolutions. That single act sparked a host of actions and reactions including a block trade on the Stock Exchange that saw great criticism directed at the Bank of Ghana.

The background details, horse-trading and intrigues are the highlights of “AHEAD OF THE GAME: Afare Donkor and Ghana’s Financial Renaissance”.

A line-up of corporate and political big wigs are expected to grace the “strictly by invitation” launch, being organized by Global Media Alliance at the British Council ‪on November 12,2015.

Commenting ahead of the launch, the author, Ebenezer Amankwah, who was practicing Financial Journalism at Citi FM when the drama occurred in 2008, said:

“It was arguably the biggest corporate drama in Ghana’s modern financial history and set a precedent for the treatment of corporate governance issues in this country. The writing journey has been one of unmitigated learning. I’m certain it’ll contribute to the commentary on Ghana’s financial and economic history”.

The book also touches on an interesting account of the financial career and exploits of Afare Donkor; tracing his innovation in forming Consolidated Discount House (CDH) and Securities Discount Company (SDC).

His integral contribution to the establishment of Ghana Leasing Company and the Ghana Stock Exchange are all told in vivid detail. There’s also the interesting role he played in the setting up of Databank Financial Services and his elevation, in 2002, to the role of Ghana’s Ambassador to China in the President Kufuor administration.

An account of Afare’s Lifetime Achievement Award at the 2015 Ghana Banking Awards is included for good measure.

The 240-page book was published by Sedgewick Publishers.


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