RESUME OF MR. ASARE AKUFFO

Mr. Asare Akuffo, Managing Director of HFC Bank (Ghana) Limited, is a Chartered Accountant by profession and he holds a BSc. Administration (Accounting Major) degree from the University of Ghana Business School.

Mr. Akuffo has extensive auditing and accounting experience. He served as a Financial Analyst for the USAID funded Dapit Project in 1988 before joining the Investment Department of Social Security and national Insurance Trust 1989.  He was involved in the preparatory activities towards the establishment of World Bank(IDA) sponsored Home Finance Company Limited(HFC) and became Financial Controller of the company in 1990, Finance Director in 1995 and Managing Director on July 1, 2005.

Mr. Akuffo played a key role in the development of HFC from inception.  Some of the activities he was involved in were the promotion of the first mutual fund in Ghana, the HFC Unit Trust in 1991, the listing of Home Finance Company Limited on the Ghana Stock Exchange (GSE) in 1995.  The shelf registration of the USD34 Dollar HFC Housbonds on the Ghana Stock Exchange in 1996 and preparation of HFC for commencement of Universal Banking business in November 2003.

Mr. Akuffo also holds the following positions:

• Chairman of the Board of Directors of HFC Realty Limited

• Chairman of the Board of Directors of Boafo Microfinance Services Limited

• Non-Executive Director of HFC Investment Services Limited

• Non-Executive Director of UG-HFC Limited

• Member, Governing Council of the Private Enterprise Foundation

• Trustee of the Student Loan Trust

• Member, Projects and Investment Committee of the Presbyterian Church of Ghana

• President of the Ghana Housing Finance Association