Kyei-Mensah-Bonsu to replace Ofori-Atta as Finance Minister?

Even before President Nana Akufo-Addo decides the fate of Finance Minister Ken Ofori-Atta, intelligence picked up suggests that some people are fiercely lobbying to replace him.

This reveals the motive behind the call for Ofori-Atta’s removal from office.

As a group, the Members of Parliament (MP) who are demanding Ofori-Atta’s removal have not provided names of possible replacements.

But, they have declared openly that they want one of their members to replace him.

Some MPs back majority leader to become Finance Minister

Majority Caucus sources have hinted that some NPP MPs and some party leaders are backing Majority Leader Osei Kyei-Mensah-Bonsu to replace Ofori-Atta.

They said the Majority Leader will not reject the appointment if President Akufo-Addo offered it to him.

But, an informed source went even further to hint that Kyei-Mensah-Bonsu actually aspires to be Finance Minister for some time now.

Eugene Boakye Antwi says they want an MP as Finance Minister

Eugene Boakye Antwi, the MP for the Subin constituency in the Ashanti Region who is a leading member of the MPs seeking Ofori-Atta’s removal that held the press conference has said they want a parliamentarian as replacement.

“We want somebody in Parliament, we want somebody that we can see, we want somebody who respects Parliament,” he said.

“We as NPP members will be urging President Akufo-Addo to bring us an MP, somebody who understands the work of parliament, somebody who is going to be with us,” he stressed.

Dr. John Kumah, Abena Osei-Asare spared because they are MPs?

Eugene Boakye Antwi’s disclosure reveals why the MPs did not demand the sacking of the two Deputy Ministers of Finance Dr. John Kumah – MP for Ejisu constituency in the Ashanti Region and Abena Osei-Asare, MP for Atiwa East Constituency in the East Region.

Reward for Kyei-Mensah-Bonsu’s recognition and loyalty to NPP

Kyei-Mensah-Bonsu and those backing him to become Finance Minister will see such an appointment as recognition for his commitment and loyalty to the NPP and his long service in parliament.

Kyei-Mensah-Bonsu to partner Dr Bawumia as Veep candidate

Sources said Kyei-Mensah-Bonsu doesn’t want to stop there as the Finance Minister portfolio could position him to become running mate to the Vice-Presidential candidate should Dr. Mahamudu Bawumia become the NPP’s flagbearer.

Kyei-Mensah-Bonsu  says he is qualified to be a Vice-Presidential candidate

Kyei-Mensah-Bonsu had earlier stated that he is qualified to be a Vice-Presidential candidate.
He said he is more than qualified to partner either Dr. Mahamudu Bawumia or anyone that emerges as the flagbearer of the New Patriotic Party (NPP) in the 2024 elections.

Kyei-Mensah-Bonsu is on record to have stated that Vice-President Mahamudu Bawumia is the best person to lead the NPP into the next elections scheduled for 2024.

He joins other Ashanti aspirants such as Joseph Osei-Owusu,-MP for Bekwai Constituency, Dr Matthew Opoku Prempeh-MP for Manhyia South Constituency and Dr Yaw Osei Adutwum-MP for the Bosomtwe

 Difficult parliamentary primaries ahead

According to analysts, Kyei-Mensah-Bonsu is very much aware that his chances of retaining his parliamentary seat are very slim as it will be difficult for him to win constituency primaries.

Does Kyei-Mensah-Bonsu have the capacity to be Finance Minister?

But, some have asked if he has the capacity to take the helm at the Finance Ministry, especially in this time of economic crisis

He once read the budget statement in the absence of Ofori-Atta; but analysts say anyone could have read it.

Kyei-Mensah-Bonsu has been in parliament since 1997

Kyei-Mensah-Bonsu first became an MP in January 1997 and is currently the longest serving MP in Ghana.

He has kept his seat since then, representing his constituency in the 2nd, 3rd, 4th, 5th, 6th and 7th Parliament of the 4th Republic of Ghana.

He is the chairperson for the Special Budget, House, and Business Committees.

Mark Assibey Yeboah

Others have also pointed to Mark Assibey Yeboah, a former MP who was the chairman of the Finance Committee in Parliament between 2017 and 2020.

Assibey Yeboah lost the seat to Michael Okyere Baafi, a man believed to be an Akufo-Addo loyalist.

Insiders say Assibey Yeboah may not get the backing of the MPs since he no longer an MP.

5 IMF programmes under 4^th Republic

In the fourth Republic which commenced on January 7, 1993 Ghana has been to the International monetary Fund five times.

Periods Ghana went to IMF under 4^th Republic

The periods are June 30, 1995-May 02, 1999, May 03, 1999-November 30, 2002, May 09, 2003-October 31, 2006, July 15, 2009-July 23, 2012 and April 03, 2015-Apr 02, 2019.

Has any Finance Minister been sacked for taking Ghana to IMF?

Despite this record of every government in the fourth republic going to the IMF to fix financial challenges, no finance minister was fired for taking the country to the Fund.

Calls for Terkper’s sack ignored by President Mahama

In respect of the last IMF programme Ghana secured in April 03, 2015, there were calls for then Finance Minister Seth Terkper to be sacked but President John Mahama did not sack Terkper.

The NPP MPs want Mr Ofori-Atta and Charles Adu Boahen, a Minister of State at the Finance Ministry dismissed but after a meeting with President Nana Akufo-Addo it was agreed that the dismissal is put on hold till the two complete some important national assignments.

IMF negotiations

They are to continue to superintend over negotiations with the International Monetary Fund (IMF) and securing a deal.

2023 Budget presentation

They will also complete the preparation of the 2023 Budget Statement and Economic Policy for 2023 which Ofori-Atta will present to parliament next month.

Appropriations Bill

The Finance Minister will also supervise the passage of the Appropriations Bill