President Nana Akufo-Addo on Tuesday announced the appointment of 57-year-old investment banker,Ken Ofori-Atta as finance minister as the new government seeks to reignite growth in a nation facing stubbornly high inflation and low prices for its exports.
According to Bloomberg, Ofori-Atta is a former executive chairman of the Accra-based investment bank Databank Financial Services Ltd where he served for 12 years until 2012 and also served as director of fundraising during the New Patriotic Party’s campaign for last month’s elections.
Former Finance Minister Yaw Osafo-Marfo will be part of the government’s economic team, according to the president, who has pledged to create jobs and boost the private sector.
Commenting on his appointment, Ofori-Atta, who holds an MBA from Yale University, said he’s unlikely to raise utility prices further after a sharp increase in tariffs following months of recurring 24-hour power outages.
-Bloomberg
