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Economist Professor Lord Mensah has stressed that holding former Finance Minister Ken Ofori-Atta accountable for his financial decisions could reinforce Ghana’s dedication to transparency and fiscal responsibility. He believes such actions would not only deter financial mismanagement but also serve as a warning to future administrations about the need to appoint competent leaders in economic governance.
Ken Ofori-Atta was recently declared wanted by the Office of the Special Prosecutor (OSP) in connection with four major corruption investigations, including the National Cathedral project and Strategic Mobilization Limited (SML). However, his name was later removed from the wanted list after his legal team assured the OSP that he would return to Ghana in May 2025.
Professor Mensah views these developments as a positive step toward strengthening financial governance. He argues that demanding accountability from key economic managers will ultimately restore investor confidence in the country.
“Gone were the days it looks like we have left people freely walking around so anybody can do his own thing. It sends a good signal to the investor community,” he remarked.
He further emphasized the importance of holding leaders accountable for their financial decisions. “Any minister that comes to hold a portfolio and does not manage well, tends to take decisions on his own without necessarily looking at the public interest, I believe that person should be held responsible,” he stated.
Highlighting the connection between finance, law, and economics, he explained, “In any environment where laws don’t work, where people are not punished for their financial misappropriations, investments don’t thrive.”
Professor Mensah concluded that transparency in financial governance is crucial for economic stability. “Once he [Ken Ofori-Atta] is able to account for it and we all come to terms with what really transpired as far as his decisions are concerned, it opens up to the market. The market thrives on openness,” he told Citi Business News.
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