Bank of Ghana Gets New Governor

A veteran of the International Monetary system and decidedly the most senior African in this other Bretton woods system is due to take over the very important chair of Governor of our Central bank.

Mr. P. Acquah in his mid 50's has all but cleared his desk at the Washington office of this institution, which principally dwells on monetary policies while the World Bank deals with cash matters.

Dr. Kwabena Dufuor, the incumbent, is on his way out after an eventful tenure heightened by media reports of conflict of interest and damning assessment of the bank published late last year by a joint team from the IMF and the World Bank.

Chronicle has copies of the report and the reaction of the bank's highest authorities on the report, sections of which they have challenged.

Dufuor may retire to the private sector where he has longed to go since 1994 when he was plucked from the London Cheapside office of Ghana commercial Bank as Manager to head the Central Bank.

He has been upfront from the word go with his declaration of interest in Star Assurance, the company that he has beaten about the head with.

A quiet, but emotive man, Dufuor is a far cry from the horrible years of Dr. Kportufe Agama when political influence and inefficiency became standard fare. Dufuor has been much decorated in international banking journals, but his tenure officially ended last month.

Chronicle intelligence picked up news that another World Bank senior, Dr. Nyani, was penciled in, but he did not appear to be too enthusiastic.

Insiders have suggested that Mr. Tei Mantey, another Ghanaian with top portfolio with the IFC, would have been a very good choice too but there is no credible information as to whether he was head hunted too.

It is believed that Acquah's strength and confidence should bring more independence to the bank to prevent Government turning to the institution for cash, something that Dufuor resisted over the last two years.