The Ministry of Finance was established under sections 11 and 13 of the Civil Service Law 1993(PNDCL 327). Its core mandate is to ensure that the country’s macroeconomic and financial management is done effectively.
Under this mandate lies the duty to ensure effective mobilization of domestic and external resources, ensure efficient and effective allocation and prudent management of resources, and more importantly, ensure commitment to transparency, probity, and accountability in the management of financial resources.
The Ministry of Finance is headed by Honourable Ken Ofori-Atta who is an investment banker and economist. He was born in 1958 at Kibi, on November 7. He comes from the well-known Ofori-Atta family— one that is known to be very influential when it comes to Ghanaian politics, law, and business.
He had his secondary education at Achimota School. He went on to Columbia University in 1984 and Yale University School of Management in 1988, where he bagged a bachelor’s degree in economics and an MBA respectively.
In 1990, he co-founded Databank Financial Services and served as its Executive Chairman until he retired in February 2012.
He has worked at a number of investment banks. He has other business interests in insurance, retail banking, private equity, micro-finance, pharmaceuticals, and real estate. Honourable Ken Ofori-Atta has served as a member of some boards and director of many companies including Enterprise Group Limited and Trust Bank Limited of The Gambia.
During the transition period after the 2016 elections, Honourable Ken Ofori-Atta was nominated by President Akuffo-Addo to assess the health of the economy.
He was appointed as Finance Minister in May 2017 by President Akuffo-Addo.
Honourable Ken Ofori-Atta was elected Chair of the World Bank/IMF Development Committee at the 2018 Spring Meetings.
- The Ministry: The current Minister for Education and the Ministry of Education
- The Ministry: The current Minister for Information and the Ministry of Information
He also chairs the Governing Board of African Capacity Building Foundation (ACBF) and the African Caucus at the World Bank.
He brings to the table over 30 years’ worth of experience in the Ghanaian and international finance sector.