# Ministry of Finance and Economic Planning (Ghana)

The Ministry of Finance and Economic Planning is the government ministry responsible for the economic and monetary health of Ghana. The Ministry is involved with economic planning, fiscal policy, national accounting, the national budget, and creating an environment for investment and growth.
The main offices of the Ministry are located in Accra.

## History

Komla Agbeli Gbedemah was the first Finance Minister of independent Ghana under Kwame Nkrumah between 1954 and 1961.

## THE BUDGET

Ahead of Ghana's budget presentation on March 11, 2025, a government official emphasized the importance of accuracy and consistency in presenting the country's economic data. He cautioned Finance Minister Dr. Ato Forson against manipulating economic figures for political gain, stressing that Ghana's economic record should be based on data from institutions like the Bank of Ghana and the Ghana Statistical Service. He warned that presenting an overly optimistic or distorted view of the economy could scare investors away and damage the country's credibility.¹

## E-levy

The Electronic Levy (E-levy), was introduced in 2022 with a 1.75% rate on all transactions. It is set to be abolished by the government. This move is expected to boost mobile money usage, promote financial inclusion, and enhance business operations for mobile money service providers. Ghana ranked as the best in the world for Mobile Money regulation according to the 2024 GSMA Mobile Money Regulatory Index, is anticipated to see increased mobile money transactions, encouraged digital payment systems, and expanded access to financial services following the E-levy's removal.

## Departments and agencies

The following are government agencies of the Ministry:
* Financial Intelligence Center
* Institute of Accountancy Training
* Ghana Revenue Authority (GRA)
* Controller and Accountant General's Department
* Public Procurement Authority (PPA)
* Ghana Infrastructure Investment Fund
The Ministry has the oversight responsibilities with regard to:
* Bank of Ghana (BOG)
* National Lotteries Authority (NLA)
* Public Procurement Board (PPB)
* Ghana Cocoa Board (GCB)
* Revenue Agencies Governing Board (RAGB)
Divisions under the ministry include:
* Advisor(s)
* Budget
* Debt Management
* Economic Research & Forecasting
* External Economic Relations
* Financial Sector
* General Administration
* Information and Communication Technology (ICT) Directorate
* Internal Audit
* Legal
* Public Investment
* Real Sector

## List of ministers

The first Ghanaian to head this ministry is Komla Agbeli Gbedemah who assumed this position in 1954 when the Britain allowed Kwame Nkrumah to form a government prior to gaining full independence in 1957. The Ministry has at various times been designated as Ministry of Finance or as it is currently, the Ministry of Finance and Economic Planning.
| Number | Minister | Took office | Left office | Government | Party |
| 1 | Komla Agbeli Gbedemah (MP) (First Ghanaian in this position) | 1954 | 1957 | Colonial government | Convention People's Party |
| 1 | Komla Agbeli Gbedemah (MP) (First Ghanaian in this position) | 1957 | 1961 | Nkrumah government | Convention People's Party |
| 2 | Ferdinand Koblavi Dra Goka (MP) | 1961 | 1964 | Nkrumah government | Convention People's Party |
| 3 | Kwesi Amoako-Atta (MP) | 1964 | 1966 | Nkrumah government | Convention People's Party |
| 4 | Akwasi Afrifa Emmanuel Noi Omaboe | 1966 | 1969 | National Liberation Council | Military government |
| 5 | Joseph Henry Mensah (MP) | 1969 | 1972 | Busia government | Progress Party (Ghana) |
| 6 | Ignatius Kutu Acheampong | 1972 | ? | National Redemption Council | Military government |
| 7 | Amon Nikoi | ? | ? | National Redemption Council | Military government |
| 8 | Robert K. A. Gardiner | 14 October 1975 | May 1978 | Supreme Military Council (Ghana) | Military government |
| 9 | J. L. S. Abbey | ? | 1979 | Supreme Military Council (Ghana) | Military government |
| 9 | J. L. S. Abbey | 1979 | 1979 | Armed Forces Revolutionary Council | Military government |
| 10 | Amon Nikoi | 1979 | 1981 | Limann government | People's National Party |
| 11 | George Benneh | May 1981 | December 1981 | Limann government | People's National Party |
| 12 | Kwesi Botchwey | 1982 | 1993 | Provisional National Defence Council | Military government |
| 12 | Kwesi Botchwey | 1993 | 1995 | Rawlings government | National Democratic Congress |
| 13 | Richard Kwame Peprah | 1995 | 2001 | Rawlings government | National Democratic Congress |
| 14 | Yaw Osafo-Maafo | 2001 | 2005 | Kufuor government | New Patriotic Party |
| 15 | Kwadwo Baah Wiredu | 2005 | 2007 | Kufuor government | New Patriotic Party |
| 16 | Anthony Akoto Osei | 2007 | 2009 | Kufuor government | New Patriotic Party |
| 17 | Kwabena Duffuor | 2009 | 2012 | Mills government | National Democratic Congress |
| 17 | Kwabena Duffuor | 2012 | 2013 | Mahama government | National Democratic Congress |
| 18 | Seth Terkper | 2013 | 6 January 2017 | Mahama government | National Democratic Congress |
| 19 | Ken Ofori-Atta | 27 January 2017 | 14 February 2024 | Akufo-Addo government | New Patriotic Party |
| 20 | Mohammed Amin Adam | 14 February 2024 | 6 January 2025 | Akufo-Addo government | New Patriotic Party |
| 21 | Cassiel Ato Forson | January 2025 | Incumbent | John Mahama | National Democratic Congress (Ghana) |