Holding Ofori-Atta accountable key to investor confidence – Lord Mensah

Economist Professor Lord Mensah has emphasized that efforts to hold former Finance Minister Ken Ofori-Atta accountable for decisions made during his tenure could send a strong message to investors about Ghana’s commitment to transparency and financial accountability.

According to him, such actions not only reinforce the country’s stance against financial mismanagement but also warn future administrations about the importance of appointing competent individuals to oversee the nation’s finances.

Ken Ofori-Atta was recently declared wanted by the Office of the Special Prosecutor (OSP) in connection with four high-profile corruption investigations, including cases related to the National Cathedral project, Strategic Mobilization Limited (SML), and two others.

However, his name was later removed from the wanted list after his legal team informed the OSP that he would return to Ghana in May 2025.

Professor Mensah believes that these unfolding developments mark a step toward strengthening Ghana’s financial governance. He asserts that consistently demanding accountability from key economic managers will, in the long run, help restore investor confidence in the country.

“Gone were the days it looks like we have left people freely walking around so anybody can do his own thing. It sends a good signal to the investor community.

“Any minister that comes to hold a portfolio and does not manage well, tends to take decisions on his own without necessarily looking at the public interest, I believe that person should be held responsible.

“Finance, law and economics go together. In any environment where laws don’t work, where people are not punished for their financial misappropriations, investments don’t thrive.

“Once he [Ken Ofori-Atta] is able to account for it and we all come to terms with what really transpired as far as his decisions are concerned, it opens up to the market. The market thrives on openness,” he told Citi Business News