General News Fri, 15 Aug 2008

Akufo-Addo names Bawumiah as Running Mate

Accra, Aug. 15, GNA - New Patriotic Party (NPP) Flag Bearer, Nana Addo Dankwa Akufo-Addo has chosen Dr Mahamudu Bawumiah, a Deputy Governor of the Bank of Ghana, as his running mate for Election 2008, the Party has announced.

A statement by Nana Ohene Ntow, NPP General Secretary, said Nana Akufo-Addo named Dr Bawumiah for the position at a meeting of the Party's National Executive Committee (NEC) that ran overnight from Thursday.

Dr Bawumiah, 45, would be formally introduced at the NPP delegates' congress at Sekondi on Saturday.

The naming of Dr Bawumiah puts to rest media speculations about who becomes the running mate.

Ahead of the midnight announcement, several names, including Hajia Alima Mahama, Minister of Women and Children's Affairs; Dr Mohamed Ibn Chambas, President of ECOWAS Commission; Alhaji Adam Zakaria, Principal of the Bagabaga Training College in Tamale; and Alhaji M.N.D Jawula, Former Chief Director of the Ministry of Health, had been mentioned as potential nominees.


Dr Bawumiah, an economist, is the son of veteran politician, Alhaji Mumuni Bawumiah, onetime Chairman of the Council of State and a Former Chief Executive of the Ghana Cocoa Board.

Dr Bawumiah rose to the position of a Deputy Governor in 2006 after serving as the Head of the Monetary Policy and Financial Stability Department of the Bank.

He is currently Chairman of the Capital Market Committee and spearheaded the strategy for accessing the international capital markets with last year's debut 750 million dollars that was over-subscribed. He was also responsible for drafting the financial sector component of the Millennium Challenge Account Compact, which yielded 547 million dollars for the financing of its projects.

Dr Bawumiah is credited with policy initiatives such as the abolition of secondary reserve requirements and the opening up of the banking sector for competition.

He was part of a government team that negotiated with the World Bank and the International Monetary Fund on various government initiatives, including the HIPC, when the NPP assumed power in 2001. Dr Bawumiah is married and has three children.

Source: GNA