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Prof. Kwesi Botchwey goes home
Ghana’s longest-serving Finance Minister, Professor Kwesi Botchwey, has been laid to rest.
A state funeral service was held for the late National Democratic Congress stalwart at the State House on Thursday, December 22, 2022, after which a private burial service was organised for him.
Several dignitaries including President Nana Addo Dankwa Akufo-Addo, Vice President Dr. Mahamudu Bawumia, former President John Dramani Mahama, former Speaker of Parliament, Prof. Aaron Mike Oquaye, National Chairman of the NDC, Johnson Asiedu Nketiah, a host of other NDC officials among others.
Prof. Botchwey died on November 19, 2022, at the Korle-Bu Teaching Hospital, where he was seeking medical care.
He passed on a month after celebrating his 80th birthday.
Reading a tribute on behalf of the NDC at the funeral service, NDC Chairman, Asiedu Nketiah said in spite of Prof. Botchwey’s many achievements and accomplishments, he remained humble, affable, gentle, patient to a fault and an arbiter at all levels for his Party, the NDC.
“We treasure the legacy he left behind, notwithstanding the grief and pains his family, friends and political colleagues are going through. We mourn our late brother, friend and comrade-in-arms, for he meant a lot to the umbrella family.
“Prof Kwesi Botchwey’s loyalty, selfless commitment, devotion to duty and unparalleled hard work will always remain a beacon for us to cherish and to aspire to. We take consolation in the fact that our late comrade had a purposeful and fulfilled life on earth.”
Also reading a tribute at the funeral service, Senior Presidential Advisor, Yaw Osafo-Maafo, said the late Finance Minister contributed immensely to the growth of Ghana’s economy.
“As someone with in-depth knowledge of economics, he contributed immensely to Ghana’s economy. The late Prof. Kwesi Botchwey’s dedication to his work gained him international recognition, and he served in many international organizations. Prof. Kwesi Botchwey was a blessing to the nation Ghana, to Africa, and to the world at large, he played a major role in enhancing the economy of Ghana and Africa. His death is a very big loss to us,” he added.
Professor Kwesi Botchwey was born on September 13, 1942, in Tamale in the Northern Region.
He was appointed by the late Jerry John Rawlings to assist in stabilising Ghana’s collapsed economy from 1982 to 1993.
He continued as Finance Minister from January 7, 1993, when Ghana returned to democratic governance and served till 1995 before his then deputy, Kwame Peprah took over from him.
The former government official was a Professor of Practice in Development Economics at The Fletcher School of Law and Diplomacy of Tufts University.
He received his secondary school education at the Presbyterian Boys’ Senior High School in Ghana.
Prof Botchwey held an LL.B. from the University of Ghana, LL.M from Yale Law School, and a doctorate from the University of Michigan Law School.
He taught at the University of Zambia, the University of Dar es Salaam (Tanzania) and the University of Ghana.
He was on September 3, 1944, and was a member of the Council of Elders of the opposition National Democratic Congress (NDC).
Source: Citi Newsroom
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
