Deputy Finance Minister Inaugurates SIC Savings and Loans Board, Tasks Members to Revive Company

Accra, August 2025 – The Deputy Minister for Finance, Hon. Thomas Nyarko Ampem, has inaugurated the new Board of Directors of SIC Savings and Loans Company Limited, urging members to take bold and effective measures to revive the struggling financial institution.

In his address, the Deputy Minister congratulated the newly sworn-in board but warned that the challenges facing SIC Savings and Loans are even more serious than those confronting its parent company, SIC Life. He called for strong governance frameworks, prudent financial management, and accountability structures to ensure government support does not go to waste.

On behalf of the board, the newly appointed Chairman, Hon. Bede Ziedeng, MP, expressed gratitude to President John Mahama and the Minister for Finance for the confidence reposed in them. He assured stakeholders that the board would act responsibly and steer the company towards stability and recovery.

The newly inaugurated SIC Savings and Loans Board members are:

1. Hon. Bede Ziedeng, MP – Chairperson

2. Dr. Richard Appietu – Member

3. Mr. Samuel Namoog (Naab Bileehsong Iagwongt) – Member

4. Mr. George Harrison – Member

5. Ms. Christina Ellen Botchwey – Member

6. Mr. Lawrence Amponsah Brobbey – Member

7. Mr. Fifi Derek – Member

8. Dr. Stanley Nelvis Kwasi Glate, Ph.D – Member

9. Mr. Sulemana Unas Owusu – Member

The inauguration marks a fresh attempt to reposition SIC Savings and Loans as a competitive player in Ghana’s financial sector.