The former Chief Executive Officer (CEO) of Kumasi Asante Kotoko, Slyvester Asare Owusu has been chosen as the new Bantamahene.
He succeeds Baffour Asare Owusu Amankwatia V who passed away in 2015.
The businessman is reported to have been introduced to the Ashanti King by the Kontire Division.
Reports from Manhyia say the new Bantamahene has been accepted by Otumfuor Osei Tutu II and has been ordered to be confined in a secret location for some days following which he would be outdoored to the public.
A coronation would be held after he is publicly outdoored and swear the oath of allegiance to the Ashanti King, starrfmonline has reported.
Regarded as one of the successful businessmen in Kumasi, Silvercrest as Mr Asare is widely known in Kumasi owns a number of businesses including Silvercrest Supermarket, SilverPharma and the newly opened Silver FM.