President Nana Addo has nominated former Finance Minister Yaw Osafo Marfo as Senior Minister.
The Senior Minister position featured prominently in ex President Kufour’s government, where he appointed senior state man J.H Mensah to that position who brought to bear long experience in public life and major insights into how economies of contries worked and did a good job for Kufour Administration.
Speaking at a press briefing at the Jubilee House in Accra on Tuesday, Nana Akufo Addo stated that he’s he’s lucky to have a senior figure of the New Patriotic Party (NPP) who he described as arguably the most successful Finance Minister in Ghana’s history to play a key role in his government.
Yaw Osafo-Maafo was born in Akyem Awisa in 1942. He attended Akyem Awisa Presbyterian School and then to Achimota Secondary School. He went on to study Mechanical Engineering at the Kwame Nkrumah University of Science and Technology (KNUST), Ghana. At KNUST he was the Vice President of the National Union of Ghana Students (NUGS). He established his credentials in the banking and finance sector by heading and successfully restructuring two major Ghanaian banks, the Bank for Housing and Construction, and the National Investment Bank between 1979 and 1992.
He has been a Consultant to the World Bank, the African Development Bank and the United Nations Development Programme. He is the past Vice-President of the Executive Committee of the West African Bankers’ Association, and a founding Deputy Chairman of the Ghana Stock Exchange.
He has served as Chairman and a board member on a number of corporations including Nestle Ghana Limited, National Trust Holding Company, Merchant Bank Ghana Limited, National Development Planning Commission, Divestiture Implementation Committee and Donewell Insurance. He stepped down after serving as a member of parliament for Akim Oda Constituency in the Eastern Region of Ghana, for three terms. He is a fellow of the Ghana Institution of Engineers and an Honorary Fellow of the Ghana Institute of Architects.
He held positions including Minister of Finance, Youth and Sports during the Kufour regime.