In a bold move signaling a major shake-up within the Ghanaian government, President Nana Akufo-Addo has dismissed his finance minister, Ken Ofori-Atta, as part of a comprehensive cabinet reshuffle. This decision comes amidst Ghana grappling with severe economic challenges, including a daunting debt restructuring effort following the nation’s default on most of its external debt in December 2022.
Ofori-Atta, who played a pivotal role in addressing Ghana’s economic downturn, faced mounting pressure due to the country’s financial crisis, which saw inflation rates soar above 50% and the value of the local cedi currency plummet. Despite surviving calls for his resignation from both opposition and ruling party members, no official reason has been provided for his dismissal.
Finance minister, Ken Ofori-Atta
Stepping into Ofori-Atta’s shoes is Mohammed Amin Adam, previously the minister of state at the finance ministry, with a background as the deputy energy minister responsible for the petroleum sector. This cabinet overhaul, affecting 12 other ministers, sees Information Minister Kojo Oppong Nkrumah moving to the housing ministry, replaced by his deputy Fatimatu Abubakar. Meanwhile, Ambrose Dery transitions from the interior minister to a role within the office of the president.
The reshuffle comes as Ghana, a key West African producer of gold, oil, and cocoa, navigates a critical period ahead of elections in December. With President Nana Akufo-Addo’s second and final term concluding in 2025, these changes underscore the administration’s urgent efforts to stabilize the economy and restore public confidence amidst widespread economic discontent.
