After being sworn-in on January 27, 2017, by the President Nana Akuffo Addo, Ken Ofori Atta has official taken the high office of Finance Minister and is ready to hit the ground running to fix the economy.
After going through a successful vetting process by the Appointments Committee of Parliament with 12 other Minister Designates, Mr. Ofori Atta was sworn in in a brief ceremony held at the Flagstaff house on Thursday.
Mr. Ofori Atta brings a wealth of experience to the crucial ministry and he believes he has the ability to turn Ghana’s economic fortunes around.
First on the list, he intends is to stabilize Ghana’s macro economy and introduce policy initiatives to grow the economy for the private sector to thrive and create jobs.
He said “We will improve people’s lives by enhancing public finances, managing our debt and debt servicing costs, investing in critical infrastructure, and empowering the private sector to create jobs”.
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“He intends to work hard to get the economy growing eventually at 7% and beyond through policies and strategies that will increase revenue, reduce waste, target spending, restructuring debts and improving infrastructure,” a statement from the ministry said.
He has also reinstated the importance of the 3 year IMF program saying “I am committed to the programme and will ensure that we meet all the necessary structural benchmarks. We have postponed taking the hard decisions for a long time, but we now need to fix these structural problems and get our economy growing again,”.
Mr. Ofori Atta was a Co-Founder and former Chairman of the Databank Group, (a premier investment banking firm) in Ghana.
Prior to co-founding Databank in 1990, he was an investment banker at Morgan Stanley and Salomon Brothers on Wall Street in New York.
He has other business interests in Insurance, Retail Banking, Private Equity, Pharmaceuticals and Real Estate.
He went to Achimota School; received a BA in Economics from Columbia University in New York and an MBA from the Yale School of Management.