Ghana’s economic challenges and a dissatisfied parliament
Ghana’s economic challenges and dissatisfaction of parliament and Ghanaians at the performance of the Finance minister continues unabated yet the President of the republic of Ghana sees no reason to remove him from office neither is Ken Ofori-Atta himself ready to resign.
Kenneth Nana Yaw Ofori-Atta – born 20 months after independence – 7th Nov 1958
He owns an investment bank – Databank Group and was executive chairman until 2012, when he resigned – why did he resign?
How come his financial institution (an investment house) still active while other similar institutionswere placed into administration and eventually consolidated or closed down?
While the finance minister since 2017, it was alleged he has some health issues. Did he resigned from his own company as chairperson for this reason?
Is it because he was not working in the interest of his own institution?
If we assume the above two are the reasons, why should he be given this monstrous task to manage the finances of the whole nation?
He is said to be a relative (the cousin) of the president of the republic of Ghana – HE Nana Akoufo-Addo who nominated him on 10 January 2017 and assumed office on 27 January 2017.
Since he became the fiancé minister, the debt of Ghana rose from 122 billion to 575.7 billion GHC – 6 years of being finance minister – why?
Debt ceiling of Ghana rose sharply but the infrastructural development and the economy as whole, did not rise correspondingly. As a matter of fact, the economy
This is a public office and if from parliament on both sides of the aisle to almost the whole population of Ghana is demanding for his resignation or removal from office, what is difficult about that?
He is adamant to resign and President Nana Ahoufo-Addo refused to remove him from office and gave an excuse his cousin Hon Kenneth Nana Yaw Offori-Atta be given the chance to complete the IMF bailout process – why that? Could that be for personal interest or an agenda?
The word agenda and personal interest is used because, since the current government took office, some of the high-ranking officials made state statements, which seem to suggest, in their mind they think they own the country – Ghana.
Agyapa deal comes to mind and called to question.
If we assume the concept of ownership and entitlement is correct, then the scripture he referenced on 04/12/22 makes sense.
– 1 Samuel 30:19 – And there was nothing lacking to them, neither small nor great, neither sons nor daughters, neither spoil, nor any thing that they had taken to them: David recovered all
Notwithstanding, he keeps on using word like I and me – no Mr minister for finance aka Bible minster for Ghana’s economic and financial affairs – the ministry is not you – the ministry belongs to Ghana and you function in the office of the minster with specific responsibilities – once you are out you have no control.
May be you are right in using I & me because you are actually making all these decisions in your personal interest and the interest of your nominator.
16/02/23 – While in parliament to make a presentation and answer questions on DDEP, he gave assurance there is no intention to take anybody’s money from them.
He stated debt treatment would be successful.
While using the word categorically repeatedly, he state, “Let’s put it to bed right here, government at no point in time took opportunity to take money from pensioners”.
He went on to say, “As biblical as it is protect your orphans, and your widows and your old people” in attempt to give assurance, the bondholders and pensioners will not suffer any detriment.
The hot seat could only link that biblical quote to – James 1: 27 – Religion that God our Father accepts as pure and faultless is this: to look after orphans and widows in their distress and to keep oneself from being polluted by the world.
The question is, should Ghanaians trust the finance minister or is Hon Kenneth Nana Yaw Ofori-Atta trust worthy? Should Ghanaians take him for his word?
Reason being that Ken Afori-Atta in 2022 a year ago stated categorically Ghana will not be going to IMF but he is currently leading the charge for IMF bailout program the very reason his cousin Nana AddoDankwa Ahkoufo-Addo refused to remove him from office irrespective of call for his sack from all walks of life in Ghana.
The politic of blame game rather than performance also continued as the minister for finance blamed Covid-19 and Russia–Ukraine war for Ghana’s economic predicament.
The Hot Seat noted that the most diabolical, dangerous and criminal acts recorded around the world was perpetuated by unsuspecting and innocent looking individuals.
Let us hope that is not what Ghana is experiencing or witnessing having an innocent looking individual as Finance minister who resigned from managing his own financial institution for some reasons.
The same innocent individual is fond of quoting scriptures and wears white – a behaviour adopted in Ghana most of the time when people want to hide crimes committed – we pray and hope it is not what Ghana is witnessing with our fiancé minister who we should rather call bible minister of finance for Ghana.
Before the Hot Seat signs off, let’s have a quick look at some of the conflict of interest as far as the minister for finance – Hon Kenneth Nana Yaw Ofori-Atta is concerned.
– Owns a bank – but resigned from the board as the chairperson.
– Cousin to sitting president of Ghana Nana Ado Dankwa Akoufo-Addo – could nepotism and cronyism be the reason he is refusing to remove him from office?
– Joint World Bank-IMF Development Committee, Chair (since 2018)
– African Development Bank (AfDB), Ex-Officio Member of the Board of Governors (since 2017)
– ECOWAS Bank for Investment and Development (EBID), Ex-Officio Member of the Board of Governors (since 2017)
– Multilateral Investment Guarantee Agency (MIGA), World Bank Group, Ex-Officio Member of the Board of Governors (since 2017)
– World Bank, Ex-Officio Member of the Board of Governors (since 2017)
– Chairman of the Board of Governors for The African Capacity Building Foundation(ACBF)
In May 2018, he was adjudged Best Africa Finance Minister of the year by London-based magazine The Banker. – Why is it that, when the populace are dissatisfied with their political and public leaders in Ghana and Africa for that matter, institutions in the west (USA, UK, Europe etc) awards them as the best?
He was named one of Africa’s most politically connected bankers by The Africa Report in 2021
As it stands, The Hot Seat pose the question, is Ken Ofori-Atta the right man for the job?
The Hot Seat – NSG news: Till we come your way with news from patriotic point for country and people, Ghana bless mother Ghana long live the 4th Republic
