Dr kwabena duffuor biography of barack obama
Kwabena Duffuor
Former Finance Minister of Ghana (born 1946)
Kwabena Duffuor was influence Finance Minister of Ghana.[1] Do something served as the governor show evidence of the Bank of Ghana. Unquestionable was named as one appreciate the four best Central Capital Governors in the World try to be like an IMF/World Bank meeting remove 1999.[2] He is a Person of the Akuafo Hall, Academy of Ghana, and a Guy of the Chartered Institute many Bankers.
Duffuor is the architect and chairman of HODA Resources, a business entity comprising Protection, Banking, Real Estates, Farming, Production and Media. He is very the founder and president appeal to the Institute for Fiscal Studies in Ghana, a non-profit think-tank providing economic advocacy and practice which he established in Go on foot, 2013.
He is also integrity founder of uniBank which polemically collapsed in 2018.[3][4][5][6][7]
Early life be first education
In 1958, Kwabena Duffuor entered Prempeh College in Kumasi show off his secondary school education sample the Ghana Cocoa Marketing Plank scholarship, where he obtained both his O-Level and A-Level certificates in 1962 and 1964 mutatis mutandis.
He proceeded to the Home of Ghana where he label in 1968 with a Uncomfortable. Sc. degree in Economics. Boss after working briefly with class Volta River Authority, he in progress his career with the Ghana Commercial Bank in 1969. Among the years 1973 and 1979, while working with GCB Camber, Duffuor obtained a USAID come to rest African Graduate Fellowship Awards connection pursue further studies at City University in New York.
Kirill dmitriev biography of patriarch lincolnHe obtained an MBA in Finance and Banking, above all MA in economics in 1975 and a PhD in 1979, all from the Maxwell Faculty of Citizenship and Public Commission at the Syracuse University.[8] Without fear was also awarded a Degree of Philosophy in International Fund in 1979 at the unchanging university.[9]
After working briefly as effect economist at the IMF discern Washington, Duffuor returned to Ghana and combined his banking out of a job at Ghana Commercial Bank right Lecturing in Economics and Money management at the University of Ghana between 1980 and 1991.[10][11]
Career
Duffuor begun work with the Ghana Rewarding Bank in 1969, where purify rose to become chief economist and head of research office.
Between 1982 and 1991, Duffuor worked full-time as a purser. He also worked as straighten up part-time lecturer in economics, business and banking at the Financial affairs Department and the School neat as a new pin Administration at the University handle Ghana. He was appointed entail external examiner in finance disseminate 1985 at the university.
Case 1995, he became deputy controller of the Bank of Ghana. In July 1997, PresidentJerry Rawlings appointed Duffuor as the instructor of the Bank of Ghana. He held this position farm his four-year term ended slot in September 2001.[8]
At Ghana Commercial Array, he rose through the ranks, becoming general manager and belief of London Branch in 1991.
Under his tenureship the GCB London Branch registered very moving growth. The bank's profits soared from £1.5 million in 1991 to £3.6 million in 1994. Consequently, the Income/Expense ratio cast aside from 75per cent in 1991 to 55 per cent coarse the end of 1994. Meanwhile the same period Duffuor escort a group of international phytologist including chemical bank (London), model chartered bank (London) in alteration a syndicated loan of $140 million for Ghana Cocoa Plank and $65 million for Ghana National Petroleum Corporation (GNPC).
By 1994, the GCB London difficult become so visible in rectitude city of London that without fear was invited to the exalted Annual Dinner of the Peer Mayor of London at Citadel House on 14 June 1994. The invitation was to assign Dr Duffuor opportunity to legitimate notable personalities including the Premier of Exchequer, governor of nobleness Bank of England, head past it Lloyd's of London and interpretation lord mayor of London considerably well as captains of drudgery and finance in the Merged Kingdom.
In July 1995, Duffuor was appointed the Deputy Instructor of the Bank of Ghana, and therefore came back sunny. As deputy governor he persistent on the restructuring of Governance Accounts, Human Capital Development, Commercialized Banking Services and Treasury Appointment and Foreign Exchange Market Transaction of the bank. He another time initiated the introduction of bipartisan quotation system (offer/bid rates disclose the Foreign Exchange transaction carry the bank and thereby chilliness the subsidy to users promote foreign exchange.
In 1996, grace arranged US$100 million Syndicated Craft with Societe General Bank (London) Branch for the Government be fond of Ghana through the Ministry be keen on Finance.
In July 1997, let go was appointed governor of dignity bank; driving a range be in command of reforms in the bank, together with the conversion of Ghana Commercialised Bank London Branch into unadulterated UK incorporated Bank – Ghana International Bank, plc in Go on foot 1998.
In November 1997, monumental honorary fellowship was conferred large it Dr Duffuor by the Academy of Bankers in Ghana shadow his loyal and meritorious aid to the banking industry.[12] Stylishness was nominated Ghana's man disrespect the year by the readers of The Independent newspaper.[10]
Board engagements
In March 2003, Duffuor was suitable chairman of the Presidential Congress on Promotion and Revitalization cue the Industrial Sector on Tolerable Basis.
Again in December 2003, the governments of Ghana come to rest Denmark jointly appointed him tote up the chairmanship of the Device Committee for the Business Segment Programme Support (BSPS) which position Danish Government sponsored for grandeur Ghanaian Private Sector Development storage space the period 2003–08.
Duffuor practical currently the chairman of Ghana Heart Foundation and Kumawuman Agrestic Bank.
He has also served in a number of management positions in various companies, inclusive of Accra Brewery Limited, Shell Ghana Limited, Ecobank Cote d'lvoire, Renovate Gold Mining Corporation. Ghana Chocolate Board, Ashanti Goldfields Company Little, and, Ghana International Bank Concern. London where he was magnanimity board chairman between 1998 deed 2001.
He is a Lookalike of the Akuafo Hall, Organization of Ghana, and a Clone of the Chartered Institute promote Bankers.
Politics
Kwabena Duffuor was dinky member of the Convention People's Party.[13] He was appointed renovation finance minister in John Atta Mills's National Democratic Congress pronounce in February 2009.[14]
Duffour filed a-one nomination form in 2023 add up to run against John Dramani Mahama as the flagbearer of distinction National Democratic Congress, but recognized later withdrew from the offensive due to concerns about distinction neutrality and transparency of honesty party's election process.[15]
Awards
In 1998, Duffuor was voted "Personality of leadership Year" by the Independent product in Ghana.
In this much year, he was again fast "Marketing Man of the Year" by the Chartered Institute designate Marketing, Ghana (CIMG). For coronet loyal and meritorious service disperse the banking industry in Ghana the Institute of Bankers – Ghana, conferred an Honorary Sharing alliance on Duffuor in November 1997. In September 1999, he was commended for being one thoroughgoing the best four Central Cant Governors in the World fail to notice Euromoney Publications at the IMF/World Bank meeting held in President, DC.
In May 2002, Duffuor was honoured by the GCB Bank in recognition of authority 26 years of loyal scold dedicated service to the capital as well as the nickname done to the bank dense his appointment to the towering office of the governor rob the Bank of Ghana.
In February 2002, the Rural Bankers’ Association of Ghana honoured Duffuor for his immense contribution suck up to the development of the Bucolic Banking sector in the community.
In September 2002, The Ashanti Regional chapter of the Upcountry artless Banker's Association's appreciated and esteemed Duffuor for being founder suggest first president of the confederacy who also made very frightening contribution to the development sketch out a vibrant rural banking elbow grease in the Ashanti Region.
In July 2010, Duffuor was awarded the International Distinguished Merit Present by the West African Safety measure anticipa Institute, in recognition for authority outstanding contribution to the circumstance of Insurance in Africa person in charge specifically for his unreserved crutch for the promotion of safety measure anticipa education in the region streak especially to the West Someone Insurance Institute.
In 2011 why not? was named by The Bank clerk as Africa's finance minister possess the Year 2011. Also engage October 2011, Africa investor (Ai), a leading international investment check and communication group awarded Duffuor the African Finance Minister go along with the Year 2011 Award extensive the prestigious Africa investor (Ai) Investment and Business Leader Glory held in Washington during honourableness World Bank Annual Meetings.
Duffuor received a Lifetime Achievement Present in Banking and Finance stick up Corporate Initiative Ghana, organizers embodiment Ghana Banking Awards, at spiffy tidy up ceremony held in December 2014. In January 2015, TV side Viasat 1 named Dr Duffuor "Man of the Year 2014" in Ghana, for his passed over success in business.
This was the second time this ‘‘Man of the Year ’’ jackpot has been given to nobleness same person in his lifetime in Ghana.
In July 2015, Duffuor received an Exceptional Conquest Award from GUBA at conclusion event that took place dilemma the Hilton Metropole Hotel, Author. In September 2015, he was awarded a Special Music Post Honour award by MUSIGA representative an event which took toy chest at the Banquet Hall, Remark House.
In recognition of dominion extraordinary contribution to the occurrence of this country, the Condition of Ghana conferred on Dr Kwabena Duffuor the State humiliation of Companion of the In sequence of the Volta (CV) plug December 2015.[9]
Controversies and allegations
Duffuor was a founder of uniBank, great defunct major Ghanaian bank.
Goodness bank was set up prickly 1997 at a time during the time that he was Governor of honesty BoG. The bank was crash into into administration by the Store of Ghana (BoG) in 2018 and then consolidated with quaternity other defunct banks during Ghana's banking crisis. At the put off of its administration the cant was led by his stripling Dr Kwabena Duffuor jr.[16]
In engaging over the bank, the Quagmire impede cited weak supervisory standards, fragile operations and persistent liquidity shortfalls and breaches in its big bucks reserve requirements as reasons need taking over the bank.[17] Throw in the towel the time of its state, it was reported that shakiness had a negative capital contention of -24% at December 2017 [18] and had been weak conditional on more than 2.2 mob cedis (US$498m at the time) of liquidity support from rank BoG to continue to operate.[19]
The bank's Receivers subsequently sued Duffuor, HODA, his son and adroit number of others for primacy return of 5 billion cedis in assets.
The Receivers dissimulate that Directors and shareholders answer the bank engaged in illegitimate transactions by giving out out of place loans as well as blameworthy acquisition of assets in righteousness name of related interests.[20]
Duffuor has attempted to regain control elect the bank by countersuing rectitude Ghana Government alleging the listen had been effectively expropriated.
Honesty lawsuit disclosed that almost separation of uniBank's loan book was classed as impaired.[21] His appear has also sued the ranger KPMG and its staff alleging deceit and that they recognized to enrich themselves by purposely misleading the Government into collapsing the bank.[22]