President John Dramani Mahama has sworn in Dr. Johnson Pandit Kwesi Asiama as the new Governor of the Bank of Ghana and Dr. Zakari Mumuni as the First Deputy Governor, reaffirming his commitment to restoring trust and stability in the country’s financial sector.
At the swearing-in ceremony held at the Jubilee House, President Mahama emphasized that these appointments go beyond fulfilling constitutional requirements and represent a deliberate effort to uphold professionalism, integrity, and competence in the nation’s economic governance.
“These appointments are not merely routine exercises to satisfy Article 183(4) of the Constitution. They constitute a deliberate commitment to the Bank of Ghana’s core mandate—to regulate currency, ensure monetary stability, and promote sustainable economic development in Ghana,” President Mahama stated.
Dr. Asiama, an economist with a PhD from the University of Southampton, brings over two decades of experience at the Bank of Ghana, having played key roles in banking supervision, financial markets, and policy implementation.
President Mahama explain Dr. Asiama’s instrumental contributions to stabilizing Ghana’s currency, controlling inflation, and strengthening regulatory oversight.
“With Dr. Asiama heading the Bank of Ghana, I am confident that we will rebuild trust, restore stability, and put our economy on a path of sustained growth,” the President said.
Dr. Mumuni, the new First Deputy Governor, also boasts an extensive background in banking and economic policy, with over two decades at the Bank of Ghana.
Holding a PhD from the University of Nottingham and an MPhil from the University of Ghana, he has been a key player in shaping Ghana’s monetary policy and ensuring financial stability.
“As First Deputy Governor, he will be a key pillar in supporting the Governor to implement sound policies, reinforce regulatory oversight, and navigate the challenges ahead,” President Mahama noted.
President Mahama cautioned the new leadership against focusing solely on technical economic indicators, urging them to consider the human impact of their decisions.
Reflecting on past banking sector reforms, he criticized the approach taken during the financial sector cleanup, which led to massive job losses and economic distress.
“The test of your patriotism in this solemn duty of economic governance lies in learning from these missteps—recognizing that policies must not only enforce regulations but also safeguard the futures that depend on them,” he stressed.
He also warned against reckless fiscal policies, particularly unregulated money printing, which he said leads to inflation, income erosion, and increased poverty. He reiterated his administration’s commitment to responsible fiscal management and ensuring the independence of the Central Bank.
“To safeguard our economy from these risks, we must uphold responsible fiscal management, strict adherence to legal and regulatory frameworks, and protect the independence of the Bank of Ghana,” he affirmed.
President Mahama urged the new leadership to collaborate with key institutions, including the Ministry of Finance and Parliament, while maintaining the Central Bank’s independence. He assured them of his full support in ensuring they carry out their mandate free from political interference.
On behalf of the people of Ghana, President Mahama congratulated the newly sworn-in officials, expressing confidence in their ability to lead the Bank of Ghana with excellence and integrity.
This swearing-in marks a crucial step in Ghana’s economic recovery efforts, as the new leadership at the Central Bank faces the challenge of restoring stability and investor confidence in the country’s financial sector.
Source: www.kumasimail.com
