Ken Ofori-Atta, born on November 7, 1958, in Kibi, Eastern Region of Ghana, has been a pivotal figure in shaping Ghana’s financial landscape. With a lineage deeply rooted in economics and politics, Ofori-Atta’s path was influenced by his father, Akwasi Andrews Jones Amoako Atta Ofori-Atta, a distinguished economist and politician who served as a senior lecturer at the University of Ghana and as a deputy minister for Finance and Economic Planning in the Busia government.
Ofori-Atta’s journey in education began at Achimota School, where he obtained his O-Level and A-Level certificates in 1976 and 1978, respectively. His academic excellence led him to Columbia University, where he pursued a B.A. in Economics, graduating in 1984. Post-graduation, Ofori-Atta launched his career at Morgan Stanley in New York, an experience that would lay the foundation for his future endeavors. Ofori-Atta’s thirst for knowledge saw him obtaining an MBA from Yale University’s School of Management. His time at Yale was marked by distinction; he was the first African to be honored as a Donaldson Fellow in 2010, acknowledging his significant professional achievements and leadership qualities.
In 1990, alongside Keli Gadzekpo and Togbe Afede XIV, Ofori-Atta co-founded the Databank Group, an investment banking firm that would become a cornerstone of Ghana’s financial sector. He served as Chairman of Databank until 2012, steering the firm to become a major player in investment banking in the region. Before founding Databank, Ofori-Atta had sharpened his expertise in investment banking at Morgan Stanley and Salomon Brothers on Wall Street, New York. His broad experience extended across various sectors including insurance, retail banking, private equity, microfinance, pharmaceuticals, and real estate.
Ken Ofori-Atta’s public service career reached its zenith when he assumed office as Ghana’s Finance Minister on January 27, 2017. His tenure was marked by both challenges and significant achievements. He spearheaded Ghana’s debt restructuring efforts following the country’s default on most of its external debt in December 2022. Despite inflation surging above 50% and the local cedi plummeting, Ofori-Atta’s strategies aimed at stabilizing the economy.
His leadership faced scrutiny and calls for resignation from street protesters and members of both opposition and ruling parties, yet he remained steadfast, focusing on long-term economic reforms. Ofori-Atta’s expertise and leadership transcended national boundaries, earning him various international recognitions. He was named the Best Africa Finance Minister of the Year by The Banker magazine in 2018. Additionally, he was a John Jay Fellow at Columbia University in 2011 and a Henry Crown Fellow of the Aspen Institute, where he co-founded the Aspen African Leadership Initiative.
His global influence was further solidified as he chaired The World Bank/IMF Development Committee starting in 2018, and led the African Capacity Building Foundation’s Governing Board. As the leader of the African Caucus at the World Bank, Ofori-Atta advocated for economic cooperation and growth across the continent. Ofori-Atta also held notable positions in various financial institutions, including serving as Director for Enterprise Group Ltd, Chairman of Trust Bank Ltd of The Gambia, and Director at the International Bank. He was also a Board Member of the Acumen Fund, highlighting his extensive involvement in shaping financial policies and institutions.
Ken Ofori-Atta’s term as Finance Minister concluded in 2023. He was subsequently appointed as the Senior Advisory and Presidential Envoy for International Finance and Private Sector Investments, a role that continues to leverage his vast experience and global connections to benefit Ghana and Africa.
