President John Dramani Mahama has emphasised that Ghana’s financial sector is in crisis and requires experienced and decisive leadership to restore stability.
Speaking at the swearing-in ceremony of Dr Johnson Pandit Asiama as the new Governor of the Bank of Ghana (BoG) and Dr Zakaria Mumuni as First Deputy Governor, today (February 25, 2025) in Accra, President Mahama expressed confidence in their ability to steer the country’s monetary system towards recovery.
“Ghana’s financial sector is in crisis, and the task ahead demands experience, foresight, and decisive leadership. With Dr Asiama at the helm, I am confident that we will restore stability, rebuild trust in the institution, and put our economy back on the path of sustained growth,” he stated.
Describing the moment as “a critical step in restoring trust in our nation’s economic governance,” Mahama stressed that these appointments reinforce the BoG’s core mandate under Article 183 (1-3) of the Constitution, which tasks the central bank with regulating the currency, ensuring monetary stability, and promoting sustainable economic development.
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The President further affirmed that the appointments meet all legal requirements, ensuring that the Governor and Deputy Governor are individuals with proven financial and banking expertise.
“To this effect, the selection of Dr Asiama and Dr Mumuni is a deliberate affirmation of our unwavering commitment to professionalism, integrity, and competence as the only criteria for appointments to high office,” he added.
President Mahama described Dr Asiama’s appointment as a natural progression from his long-standing service at the central bank, having previously served as Second Deputy Governor from 2016 to 2017.
“His deep expertise in banking supervision, risk management, and digital finance positions him as the right leader for the Bank of Ghana at this critical time,” Mahama noted, recalling his contributions to controlling inflation, stabilising the currency, and strengthening regulatory oversight.
The President also highlighted Dr Mumuni’s expertise and extensive experience in banking, financial markets, and economic policy.
“Dr Mumuni has over two decades of experience at the BoG, where he has played a vital role in shaping policy and strengthening financial stability,” Mahama stated.
He further noted that Dr Mumuni’s educational and professional background reflects a deep understanding of the complexities of Ghana’s economy.
“As First Deputy Governor, he will be a key pillar in supporting Dr Asiama, implementing policies, enforcing regulatory oversight, and navigating the economic challenges ahead,” Mahama affirmed.
The President concluded by expressing his confidence that Dr Asiama and Dr Mumuni will bring the leadership, expertise, and vision necessary to restore confidence in Ghana’s economy and ensure the BoG fulfills its mandate effectively.
