Dr. Papa Kwesi Nduom, Founder and President of Group Nduom, alleged that President Nana Akufo-Addo regrets appointing his cousin, former Finance Minister Ken Ofori-Atta, to steer the country’s economy. Watch video below.
Speaking during his weekly Facebook interaction titled Disappointed but not Discouraged, Dr. Nduom expressed his concerns about the current state of the economy, attributing its issues to past mismanagement under Ofori-Atta’s leadership.
According to Dr. Nduom, the President initially believed that Mr. Ofori-Atta, a seasoned investment analyst, was the right fit for the Finance Ministry. However, he claims that this decision backfired, citing the ministry’s performance as evidence of misplaced trust.
Nduom speculated that Ofori-Atta’s appointment may have been influenced by his significant role in raising funds for the New Patriotic Party (NPP) during the 2016 and 2020 elections, a role that earned him the President’s confidence. “He is the one the President trusted to raise money for his campaigns, and then when they won power, they entrusted him with running the economy,” Dr. Nduom remarked.
The businessman argued that the connection between political loyalty and economic responsibility is not always aligned, suggesting that “it’s not necessarily those who help bring you to power who will make you successful once you get there.”
Dr. Nduom further warned that Ghana’s financial sector was put on a “path of destruction” under Ofori-Atta’s leadership, stressing that those responsible should be held accountable—even suggesting that criminal charges could be considered against those he referred to as the “owners” of the economy.
His concerns echo those of numerous critics who attribute Ghana’s economic decline to alleged fiscal mismanagement.
Recent reports, including findings from the World Bank, indicate that Ghana’s economy has faced serious setbacks, with public debt rising sharply in response to external shocks and internal fiscal policies.
The country’s debt distress, diminishing foreign reserves, and escalating inflation have contributed to an increasingly fragile economic outlook.
Dr. Nduom, who is not a candidate in the current election, insists that his focus remains on advocating for policies that support job creation and economic independence for Ghanaians.
Through his social media platform, he aims to keep the conversation alive on issues he believes are crucial for Ghana’s future stability and prosperity.