President John Mahama has stated that Ghana’s financial sector is in crisis and requires experienced and decisive leadership.
He expressed confidence that Dr Johnson Pandit Asiama, who has been sworn in as the new Governor of Bank of Ghana (BoG), would restore stability and rebuild trust in the economy.
“Ghana’s financial sector is in crisis, and the task ahead demands experience, foresight, and decisive leadership. With Dr Asiama at the helm, I am confident that we will restore stability, rebuild trust in the institution, and put our economy back on the path of sustained growth,” he stated.
He made these remarks during the swearing-in ceremony of Dr Asiama as the new Governor and Dr Zakaria Mumuni as First Deputy Governor of BoG.
“This moment marks a critical step in restoring trust in our nation’s economic governance,” President Mahama said.
The President emphasised that these appointments reinforce the Bank of Ghana’s core mandate, as outlined in Article 183 (1-3) of the Constitution, to regulate the currency, ensure monetary stability, and promote sustainable economic development.
He further stated that the appointments align with legal requirements, ensuring that the Governor and Deputy Governor of the BoG are individuals with proven financial and banking expertise.
“To this effect, the selection of Dr Asiama and Dr Mumuni is a deliberate affirmation of our unwavering commitment to professionalism, integrity, and competence as the only criteria for appointments to high office,” he stated.
President Mahama described Dr Asiama’s appointment as a natural progression from his long-standing service at the central bank, having previously served as Second Deputy Governor from 2016 to 2017.
As Deputy Governor, he played a key role in controlling inflation, stabilising the currency, and strengthening regulatory oversight.
“His deep expertise in banking supervision, risk management, and digital finance positions him as the right leader for the Bank of Ghana at this critical time,” Mahama added.
He also highlighted Dr Mumuni’s appointment as a recognition of his exceptional expertise and distinguished service in banking, financial markets, and economic policy.
“Dr Mumuni has over two decades of experience at the BoG, where he has played a vital role in shaping policy and strengthening financial stability,” he noted.
President Mahama stated that Dr Mumuni’s educational and professional background reflects his deep understanding of the complexities of Ghana’s economy.
“As First Deputy Governor, he will be a key pillar in supporting Dr Asiama, implementing policies, enforcing regulatory oversight, and navigating the economic challenges ahead.”
He affirmed that Dr Asiama and Dr Mumuni would bring the leadership, expertise, and vision needed to restore confidence in Ghana’s economy.