President Akufo-Addo has shed light on the rationale behind the replacement of Ken Ofori-Atta as Finance Minister during the February ministerial reshuffle, citing the need for Ofori-Atta to take a break after seven years in the position.
The President elucidated on this matter during a discussion with IMF Managing Director, Kristalina Georgieva, at the Jubilee House over the weekend, underscoring the importance of the decision. He explained, “Since last year, we have made some important changes in our government. Your old friend, Mr. Ofori-Atta has had seven years as a Finance Minister and I thought it was time for him to wind down and take on more narrow roles. And the new Minister of Finance is someone you have met before… now he has stepped forward.”
President Akufo-Addo enacted significant changes to his cabinet on Wednesday, February 14, which included the removal of Finance Minister Ken Ofori-Atta. This reshuffle impacted approximately 13 current ministers of state, comprising 10 cabinet ministers and two regional ministers.
Following his departure from the finance ministry, Mr. Ofori-Atta was appointed as the Senior Presidential Advisor and Special Envoy for International Finance and Private Sector Investments. In this new capacity, he is anticipated to leverage his extensive experience and network to attract international investments and bolster private sector participation in Ghana’s development initiatives.
The decision to assign Mr. Ofori-Atta to this role sparked a discourse in the media, with many market observers interpreting it as a promotion due to his advisory function on international finance and private sector investment to President Akufo-Addo.
President Akufo-Addo lauded the former finance minister’s performance and underscored the government’s dedication to harmonizing the aspirations of Ghanaians with the requirements of the IMF 3-year extended credit program, particularly as the country approaches the December 7 general election.
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