Kwabena Dufuor
Encyclopedia
Kwabena Duffuor is the Finance Minister of Ghana
. He has also served as the Governor of the Bank of Ghana
in the past.
at Kumasi
in the Ashanti Region
of Ghana. He proceeded to the University of Ghana
where he graduated in 1968 with a B. Sc.
degree in Economics. His prostgraduate studies were at the Syracuse University
in New York
, United States
where he obtained a Masters in Business Administration degree in Finance and Banking and Master of Arts
in Economics in 1975. He was also awarded a Doctorate of Philosophy in International Finance in 1979 at the same university.
in 1969 where he rose to become Chief Economist and Head of Research Department. Between 1982 and 1991, Duffuor worked full time as a banker. He also worked as a part-time lecturer in Economics, Finance and Banking at the Economics Department and the School of Administration at the University of Ghana. He was appointed an External Examiner in Finance from 1985 at the University. In 1995, he became Deputy Governor of the Bank of Ghana. In July 1997, Duffuor was appointed by Jerry Rawlings
, President of Ghana
in consultation with the Council of State
as the Governor of the Bank of Ghana. He held this position till his four years term ended in September 2001. He was nominated Ghana's man of the year by the readers of The Independent newspaper.
. He was however appointed Finance Minister in the National Democratic Congress
government led by John Atta Mills, President of Ghana in February 2009 after winning the 2008 Ghanaian presidential elections
.
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
. He has also served as the Governor of the Bank of Ghana
Bank of Ghana
The Bank of Ghana is the central bank of Ghana. It is located in Accra and was formed in 1957. Its name is abbreviated to BOG.-Brief Historical Background:...
in the past.
Early life and education
Kwabena Duffuor had his secondary education at the Prempeh CollegePrempeh College
Prempeh College is an all-boys boarding school in Kumasi Ghana. Prempeh College, the Asante Royal Boarding School for Boys of all ethnic backgrounds is the Kings College of Ghana....
at Kumasi
Kumasi
Kumasi is a city in southern central Ghana's Ashanti region. It is located near Lake Bosomtwe, in the Rain Forest Region about northwest of Accra. Kumasi is approximately north of the Equator and north of the Gulf of Guinea...
in the Ashanti Region
Ashanti Region
The Ashanti Region is the third largest of 10 administrative regions in Ghana, occupying a total land surface of 24389 square kilometers or 10.2 per cent of the total land area of Ghana. In terms of population, however, it is the most populated region with a population of 3,612,950 in 2000,...
of Ghana. He proceeded to the University of Ghana
University of Ghana
The University of Ghana is the oldest and largest of the thirteen Ghanaian universities and tertiary institutions. It is one of the best universities in Africa and by far the most prestigious in West Africa...
where he graduated in 1968 with a B. Sc.
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
degree in Economics. His prostgraduate studies were at the Syracuse University
Syracuse University
Syracuse University is a private research university located in Syracuse, New York, United States. Its roots can be traced back to Genesee Wesleyan Seminary, founded by the Methodist Episcopal Church in 1832, which also later founded Genesee College...
in New York
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
where he obtained a Masters in Business Administration degree in Finance and Banking and Master of Arts
Master of Arts (postgraduate)
A Master of Arts from the Latin Magister Artium, is a type of Master's degree awarded by universities in many countries. The M.A. is usually contrasted with the M.S. or M.Sc. degrees...
in Economics in 1975. He was also awarded a Doctorate of Philosophy in International Finance in 1979 at the same university.
Career
He started work with the Ghana Commercial BankGhana Commercial Bank
Ghana Commercial Bank, normally abbreviated to GCB, is a commercial bank in Ghana. The bank is the largest indigenous financial institution in the country.-History:...
in 1969 where he rose to become Chief Economist and Head of Research Department. Between 1982 and 1991, Duffuor worked full time as a banker. He also worked as a part-time lecturer in Economics, Finance and Banking at the Economics Department and the School of Administration at the University of Ghana. He was appointed an External Examiner in Finance from 1985 at the University. In 1995, he became Deputy Governor of the Bank of Ghana. In July 1997, Duffuor was appointed by Jerry Rawlings
Jerry Rawlings
Jerry John Rawlings is a former leader of the Republic of Ghana and now the African Union envoy to Somalia. Rawlings ruled Ghana as a military dictator in 1979 and from 1981 to 1992 and then as the first elected president of the Fourth Republic from 1993 to 2001...
, President of Ghana
President of Ghana
The President of Ghana is the elected head of state and head of government of Ghana. Officially styled President of the Republic of Ghana and Commander-in-Chief of the Ghanaian Armed Forces. The current President of Ghana is Prof. John Atta Mills, who took office in January...
in consultation with the Council of State
Council of State (Ghana)
The Council of State in Ghana is a small body of prominent citizens, analogous to the Council of Elders in the traditional political system, which advises the President on national issues....
as the Governor of the Bank of Ghana. He held this position till his four years term ended in September 2001. He was nominated Ghana's man of the year by the readers of The Independent newspaper.
Politics
Kwabena Duffuor is a member of the Convention People's PartyConvention People's Party
The Convention People's Party is a socialist political party in Ghana, based on the ideas of former President Kwame Nkrumah.The CPP was formed in 1949 by Kwame Nkrumah to campaign for the independence of the Gold Coast. It ruled Ghana from 1957 to 1966...
. He was however appointed Finance Minister in the National Democratic Congress
National Democratic Congress (Ghana)
The National Democratic Congress is a social democratic political party in Ghana, founded by Jerry John Rawlings, who was Head of State of Ghana from 1981 to 1993 and the President of Ghana from 1993 to 2001. The NDC was formed ahead of elections in 1992 and 1996 returned Jerry John Rawlings to...
government led by John Atta Mills, President of Ghana in February 2009 after winning the 2008 Ghanaian presidential elections
Ghanaian presidential election, 2008
A presidential election was held in Ghana on 7 December 2008, at the same time as a parliamentary election. Since no candidate received more than 50% of the votes, a run-off election was held on 28 December, 2008 between the two candidates who received the most votes, Nana Akufo-Addo and John Atta...
.