Bio

Eugene Gilbert Amponsah is the Head, Legal (Chief Legal Officer) of the CalBank Group with the core responsibility of managing the legal function and risk of the Bank and its affiliated companies. He has over 12 years’ post-call experience in banking and finance, corporate law, transaction structuring corporate and civil litigation. Prior to joining CalBank, he worked as a barrister and solicitor at the Ghana office of AB & David Africa, a leading African law firm. As a member of the Executive Committee, Eugene provides legal and strategic leadership and support to the CalBank Group made up of CalBank, CAL Asset Management Company Limited, CAL Brokers Limited among other registered affiliates.

He holds a Bachelor of Laws degree from the Law Faculty of the Kwame Nkrumah University of Science & Technology (KNUST), Kumasi – Ghana, a Qualifying/Professional Certificate in Law from the Ghana School of Law and a Master of Science Degree (MSc) in Development Finance from the University of Ghana Business School.

He also holds a Verified Certificate in Contract Law, International Law and Legal Studies from the Harvard Law School’s HarvardX programme, a Securities Industry Certification from the Ghana Stock Exchange, a course certification in the Sustainable Development Goals and the Law from the University of Cambridge’s Centre for Environment, Energy and Natural Resource Governance and an Executive Leadership certificate from the Gordon Institute of Business Science (GIBS), University of Pretoria, Johannesburg, South Arica. Eugene is also a former member of the Executive Committee of the Ghana Chapter of the African Bar Association (AFBA).

How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?

My team and I provide legal support to a commercial bank and its affiliates that operate within highly regulated environments. Our strategy and approach to managing legal support to business is coordinated at an enterprise or firm level. Sector regulation requires that the organisation employs a wholistic enterprise risk management framework. This enterprise risk management regime requires a total risk assessment of the business model and operations, from product development to product delivery to the customer (i.e. the entire customer journey map). As part of this risk management regime, my organisation has a Chief Risk Officer whose function is to coordinate the identification and management of enterprise-wide risk issues; this is irrespective of the fact that my primary role as Chief Legal Officer is to manage legal risk within the Group.

A key intervention introduced by the central bank is the requirement that market players have in place a Business Continuity management system. I am, in my capacity as the Chief Legal Officer of the CalBank Group, a member of the Business Continuity Management Steering Committee and offer the requisite support to the Group in the coordination of business continuity protocols in the event of instability or crisis. To aid business continuity and reduce downtimes in service provision, the organisation also has a data recovery programme, which includes the use of a data recovery site for data storage and swift failover of systems to support services.

The organisation, and by extension the legal team, likewise has in place a call tree system that ensures seamless internal and external communication and effective people and situation management. This proactive and nimble approach to the management of business ensures business resilience and continuity during periods of instability and crises. The above interventions also ensure compliance even in the event of instability and crises.

In your opinion, what are the main trends affecting your work now (these can be legal, political, economic or business-based)?

In my view, the main trends affecting the business of banking generally, and particularly legal support to banks in Ghana, are on the front of technology. These developments have impacted both the regulatory environment and banks’ operations. The increasing influence of Fintechs on banking business has led to increased concerns about data privacy and/or protection and cyber security and/or threats. These concerns quickly escalate into legal nightmares with the occurrence of any breaches.

The lagging appreciation of the Ghanaian banking and legal environment of concepts such as cryptocurrencies, blockchain, AI and machine learning as compared with more advanced economies, and consequently the uncertain regulatory uncertainties around transactions bordering on those concepts, make cross-border transactions more challenging, especially when engaging with organisations that operate in more advanced economies which are more receptive of these concepts.

What strategic priorities are guiding your legal team into 2025?

Heading into the new year 2025, my team is keeping a keen eye out for trends in technology which have a direct (and near future) impact on the organisation’s business. We are apprising ourselves of trending conversations and best practices regarding matters such as money laundering, artificial intelligence, the regime of digital currencies and the legal ramifications of their introduction; particularly as the Bank of Ghana’s has introduced the electronic currency, the eCedi. We are also following trends in sustainable banking and finance, being key interest areas for institutions providing funding for my Bank’s on-lending business.