Ken Ofori-Atta Archives - Wontumi Online

06 Jun

Ken Ofori-Atta: Ghana’s Senior Presidential Advisor Holds Talks With Crown Prince Of Bahrain

Wontumi1BusinessHis Royal Highness Prince Salman bin Hamad Al Khalifa, Ken Ofori-Atta

His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain, welcomed Ghana’s Senior Presidential Advisor and Special Envoy for International Finance and Private Sector Investments, Ken Ofori-Atta at the Gudaibiya Palace in Bahrain on Tuesday, June 4, 2024. During the meeting, HRH the Crown Prince and Prime Minister underscored the importance of enhancing Bahrain-Ghana relations by fostering mutually beneficial development and investment opportunities. He emphasized that these efforts align with Bahrain’s comprehensive development goals, spearheaded by His Majesty King Hamad bin Isa Al Khalifa. His Royal Highness highlighted the need to strengthen bilateral…

14 Feb

Amin Adam Replaces Ofori-Atta As Finance Minister

Wontumi1BusinessAmin Adam, Finance minister, Ken Ofori-Atta

Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam has been announced as the new Minister of Finance. He takes over from Ken Ofori-Atta who was relieved of his duties by President Nana Addo Dankwa Akufo-Addo in a major government reshuffle on Wednesday. In February 2023, Dr Mohammed Amin Adam was announced Minister of State at the Finance Ministry as a replacement of Charles Adu Boahen who was removed following a corruption expose by investigative journalist Anas Aremeyaw Anas. Amin Adam’s Profile Dr. Mohammed Amin Adam is an Economist, Energy and Petroleum Policy Expert, and Resource Governance Advocate.…

14 Feb

Ofori-Atta Advocates For Expansion Of Digital Payments For A More Climate Resilient Africa

Wontumi1BusinessKen Ofori-Atta

Ghana’s Finance Minister, Ken Ofori-Atta, argues that digital technologies and responsible payment systems have a major role to play in climate adaptation and climate emergency responses. The ‘Global Stocktake’ during COP28 in Dubai last December will be seen as a critical milestone for African economies for at least two reasons: the agreement to ‘transition away’ from fossil fuels and the operationalisation of the Loss and Damage Fund. In the long history of climate change activism and actions, with common but differentiated responsibility set out in the Paris Agreement, these are giant steps that will help the African continent to build…

18 Jan

$600m IMF Cash Will Be Advanced Towards Budget Support – Ofori-Atta

Wontumi2BusinessKen Ofori-Atta

The Minister of Finance, Ken Ofori-Atta, has revealed that the $600 million second tranche International Monetary Fund (IMF) bailout package expected next week would be used for some programmes in the 2024 Budget. The Executive Board of the IMF is hoping to meet on Friday, January 19, 2024, in Washington DC, USA to carry out Ghana’s first review under the Fund programme. The board is expected to approve the $600 million and disburse same to Ghana within the next three working days. Speaking on PM Express Business Edition which will be aired today January 18, 2024, on JoyNews, Mr. Ofori-Atta…

12 Jan

Ghana Gets Debt-Relief Terms, Enough To Unlock IMF $600M

Wontumi1BusinessIMF, Ken Ofori-Atta

Ghana has received a draft term sheet on debt relief from its official creditors that is sufficient for the International Monetary Fund to disburse $600 million to the West African nation, Finance Minister, Ken Ofori-Atta said. The term sheet from the Paris Club Group of creditors and new ones including China comes after months of negotiations to restructure as much as $5.4 billion of bilateral debt. The IMF board is expected to meet in a week. “We are reviewing the draft term sheet,” Ofori-Atta said in an interview in the capital, Accra, declining to provide details in the draft accord.…

29 Nov

Ghana To Be Food Sufficient From Next Year – Finance Minister

Wontumi2NewsKen Ofori-Atta

Ghana's Minister of Finance, Ken Ofori Atta, expresses confidence in the nation achieving food self-sufficiency by next year, citing strategic measures taken by the government already. After touring the Agrifest exhibition, a five-day showcase of agriculture and food innovations, Hon. Ofori Atta applauds Ghanaians' commitment to supporting the government's agenda for food sufficiency. Highlighting the government's focus, he said government aims to boost the agricultural sector's growth from 6.3% last year to end imports, saving approximately "US$2 billion worth of food in poultry, rice, etc." In a bold move, the Ministry of Finance allocates GHc1 billion in the 2024 budget,…

15 Nov

Contractor On La General Hospital Reconstruction Expected On Site Next Week – Finance Minister

Wontumi1Businessakufo addo, Ken Ofori-Atta, La General Hospital Project

Finance Minister Ken Ofori-Atta has given assurance that the La General Hospital Project, which had been stalled, will resume construction next week. He disclosed that the terms with the contractor have been successfully renegotiated, and funding for the project will now be sourced from the national budget. The minister emphasised that the contractor has been directed to make substantial progress by the end of the year. Ken Ofori-Atta Mr Ofori-Atta highlighted the government's commitment to ensuring the successful completion of the project to fulfil its intended purpose. “Mr Speaker, the Government has renegotiated the contract terms of the La General…

09 Oct

Ghana’s Economy On The Rise – Ken Ofori-Atta

Wontumi2BusinessKen Ofori-Atta

Government has reached a staff level agreement (SLA) with the International Monetary Fund (IMF) for a first review of the IMF-supported Post COVID-19 Programme for Economic Growth (PC–PEG). This consensus comes after five months of negotiations, and paves the way for further progress toward approval of the first review by the IMF Executive Board in November 2023. Finance Minister Ken Ofori-Atta, speaking in Accra at a joint press conference with the IMF, expressed optimism about the economy’s outlook, saying: “The economy is responding positively and strongly to the news of government and the IMF reaching an SLA for the first review; and we are…

22 Sep

Ken Ofori-Atta Commends G20 For Africa’s Inclusion In Decision-Making Body

Wontumi2BusinessKen Ofori-Atta

Minister for Finance, Ken Ofori-Atta, expressed his appreciation for the Group of 20 (G20) for its historic decision to include the African Union in its decision-making body. Mr. Ofori-Atta highlighted the significance of this move, emphasizing that Africa would now have a prominent platform to articulate its narrative, address its challenges, and provide recommendations from an African perspective, thus allowing the continent to play a more active role in global development. "There had been a number of decisions taken without Africa on the board and thank God the G20 agreed that Africa will have a seat so we will be part…

15 Sep

Central Banks Can Operate With Negative Equity – Ofori-Atta Defends BoG’s Losses

Wontumi2BusinessKen Ofori-Atta

Ghana's Finance Minister, Ken Ofori-Atta, has defended the operational capacity of central banks to function with negative equity, emphasising that such losses incurred by central banks should not be viewed in the same light as commercial banks or enterprises. His remarks came in response to criticisms and calls for the resignation of the Governor of the Bank of Ghana, Dr. Ernest Addison, following a reported GHS 60 billion loss. In an article defending the Bank of Ghana's actions during unprecedented global events, Mr Ofori-Atta cited examples of central banks in other countries that have faced similar losses. He argued that in…