The dean at the University of Cape Coast University Business School (UCCBS), Professor John Gatsi has stated that Ken Ofori-Atta letter’s to the Ministry of Finance after his exit was to his Data Bank friends he worked with at the Ministry.  

This comes on the back of former Finance Minister Ken Ofori-Atta in a letter after his exit from the Ministry urged the staff to give all their support to Dr. Mohammed Amin Adam.

“We all know him as a smart, humble and inclusive leader. Let me state with all humility that nothing would honour me and the ‘Office of the Minister’ more than for you to work with renewed diligence to guide Hon. Amin and our nation to the successful execution of the IMF-ECF programme to promote economic growth and transformation.

“Once again, I thank you for your tireless service and commitment to excellence. It has been my utmost honour and a rare privilege to serve alongside each, and every one of you. I pray that you continue to be resolute, dedicated, unwavering and committed to the work of the Republic and care for the finances of the State,” the former Minister stated.

But speaking on Starr Midday News with Nurein Abass, Prof. Gatsi stated that the former Minister’s letter was written out of fear and his cronies might not support the new Minister for Finance.

“It is not bad for the outgoing Finance Minister to call on workers to support the in-coming Minister. But that is also informed by the fear that when the Finance Minister went into the Ministry he had brought with him some key people from Data-Bank and elsewhere to help him do the work.

“It is assumed that loyalty of those people largely go to the Finance Minister, Ken Ofori-Atta so if he is leaving them behind it is only proper for him to direct them to provide the necessary support and loyalty to the in-coming persons. So that is not a bad idea,” Prof. Gatsi stated.

He also stated that the account Mr. Ofori-Atta gave on his stewardship at the Ministry of Finance is not accurate.

According to him, Ken Ofori-Atta went to the Ministry in 2017 and exited in February 2024 therefore his account on the depreciation should be a cumulative of his tenure.      

“But in trying to portray that all that he did at the Ministry are all positive is not factual and it’s not true. For example, he mentioned that the cedi depreciated by just 7.2 percent and he was referring to February to December 2023. I believe that is not a true reflection when you want to account for his stewardship.  

“At least we are aware that in 2019 or so the cedi depreciated by 13%, in 2022 it depreciated by about 51% and in 2023 as a whole it depreciated by about 20%. So if you want us to see the cumulative policy effect that you have implemented then it should be from 2017 to 2023 ending,” Prof. Gatsi explained.   

Source: Ghana/