Dr Mohammed Amin Adam, Minister of State at the Finance Ministry, has been nominated as the Finance Minister designate, replacing Mr Ken Ofori-Atta, who has served in that capacity since 2017.
Mr Eugene Arhin, Director of Communications at the Office of the President, announced President Nana Addo Dankwa’s nomination in a press statement issued on Wednesday, February 14.
Dr Adam serves on Parliament’s Finance, Roads and Transport, Defence and Interior Committees.
H would be vetted by Parliament’s Vetting Committee before becoming the substantive Finance Minister.
He is the Chairman of Ghana’s National Energy Transition Committee, Gold for Oil Initiative, as well as the New Producers Group (a group of new oil and gas producing countries in the World).
His appointment comes at a time that Ghana is implementing a US$3 billion loan programme with the International Monetary Fund (IMF) to revive the country’s challenging economy.
Post COVID-19 pandemic pushed Ghana’s economy into difficulties, with some people going to the extent of trekking long-distances to work, as inflationary pressures hit hard.
Recent figures from the Ghana Statistical Service and the first review of the IMF programme have shown some signs of recovery, nonetheless, it has been noted that the country ought to do more.
Macroeconomic gains are yet to make significant impact at the micro level – where individuals would see improvement in their incomes and daily living, with businesses also getting some ease in doing business.
Prior to his nomination, many Ghanaians, including Ministers and policy Think-Tanks had called on the President to reshuffle his Ministers, and terminate the appointment of Mr Ofori-Atta.
Dr Adam, who is the Member of Parliament (MP) for the Karaga Constituency in the Northern Region, served as the Deputy Minister for Energy, before assuming the Minister of State position about a year ago.
The former Executive Director of the Africa Centre for Energy Policy (ACEP), once served as the Deputy Regional Minister for the Northern Region under the erstwhile President John Agyekum Kufuor’s administration.
He has worked extensively on extractive industries and resource management as a University Lecturer, advisor on resource governance and as a campaigner for transparency in resource management around the world.
He also worked in other public and private organisations, including being an Energy Policy Analyst at the Ministry of Energy, Commissioner of the Public Utilities Regulatory Commission (PURC), and the Africa Coordinator of extractives industries in Ibis.
Born on April 15, 1974, Dr Adam holds a Bachelor of Arts Degree in Economics from the Northern School Business, a Master of Philosophy Economics from the University of Cape-Coast, and a fellow of the Institute of Certified Economist of Ghana (ICEG).
He also holds a Doctor of Philosophy in Petroleum Economics from the Centre for Energy, Petroleum and Mineral Law, and Policy (CEPMLP) of the University of Dundee in UK.
Over the years, Dr Adam has received professional development trainings at Colombia University, University of Texas at Austin, and Harvard University in the US.
GNA
Dr Mohammed Amin Adam