Honoring Dr. Sir Kwame Donkoh Fodjour: A legacy of funding major projects without borrowing

In a world where fiscal responsibility often battles the temptation of borrowing, the story of Dr. Sir Kwame Donkoh Fodjour stands as an inspiring testament to what can be achieved with innovation, determination, and unwavering principles. As we commemorate his 90th birthday, we delve into the remarkable journey of a man whose tenure as the de facto Commissioner of Finance saw Ghana blaze a trail by funding major projects without resorting to borrowing.

The year 1973 marked a turning point in Ghana's economic history. Under the leadership of General Ignatius Kutu Acheampong, the nation took a bold stance, refusing to be bound by the weight of external debts marred by corruption. This historic decision, famously known as the 'Yentua' policy, set the stage for Ghana's financial renaissance and laid the foundation for visionary leadership.

Dr. Donkor Fodjour, affectionately known as 'Kantinka,' emerged as a pivotal figure in Ghana's journey towards financial sovereignty. His appointment on January 16, 1974, as a Special Assistant to the Head of State on Finance marked a turning point in the nation's financial landscape. With this position, he became the de facto Commissioner of Finance, a role he embraced with dedication and purpose.

The impact of Dr. Fodjour's leadership was felt through his instrumental role in funding significant projects without resorting to borrowing. The Kpong Dam, Benso Oil Palm Plantation, and Asutsuare Sugar Factory are just a few examples of the transformational projects that bore his visionary touch. These accomplishments not only propelled Ghana's development but also showcased the possibilities that arise from prudent financial management.

Born on August 29, 1933, in Kumasi, Dr. Fodjour's journey was shaped by values of hard work and determination instilled by his parents, Kofi Duro and Yaa Amoakowaa. These values guided him through his educational pursuits, from St. Augustine's College, Cape Coast, to the halls of the University of Pennsylvania and the Wharton Graduate School of Business.

Dr. Fodjour's commitment to knowledge and excellence led him to global platforms, including positions at the World Bank. His transformative leadership as the President of the African Development Bank further underscored his ability to drive change on a grand scale. Under his guidance, the bank's capital surged from US$200 million to an astounding US$6.3 billion, a testament to his visionary leadership.

Beyond the financial realm, Dr. Fodjour's influence extended to social and cultural spheres. His involvement with the Sickle Cell Foundation of Ghana and the Quality Life Assurance Company showcased his commitment to community well-being and the betterment of lives.

As Dr. Fodjour celebrates his 90th birthday, his routines and passions reflect a life lived with purpose. From his fondness for classical music to his writing endeavors, his energy and drive continue to inspire generations.

In honor of this milestone, a distinguished luncheon was held at the Manhyia Palace on Tuesday, August 29, 2023. The presence of the President and other dignitaries at this event underscored the profound impact of Dr. Fodjour's contributions on Ghana's development journey.



As we salute Dr. Sir Kwame Donkoh Fodjour on his 90th birthday, we recognize the legacy of empowerment, resilience, and vision he leaves behind. His story serves as a beacon of possibility, reminding us that with determination and forward-looking leadership, we can shape a brighter future without the burden of unnecessary debt. Happy 90th birthday, Dr. Fodjour – your impact continues to illuminate the path to progress.