Ken Ofori Atta may be an experienced banker but running the finance and economic planning of a country is substantially different from running a private bank, Kwesi Pratt, Managing Editor of the Insight Newspaper has said.
According to him, things in the private sector is a different ball game from that of the public sector, hence the Finance Minister-Designate may not perform successfully as he did in his private career.
President Nana Addo Dankwa Akufo-Addo, on Tuesday 10th January 2017, nominated 13 persons including Ken Ofori Atta as Ministers of State.
He is the co-founder of Databank, an indigenous Ghanaian bank which is well known for investment banking.
Many have said since he was successful in contributing his quota to the financial service as a private man, he would bring fresh thinking and innovation to the Finance Ministry and manage the economy well.
However, critics including Kwesi Pratt argue that since he has never held any position in the public sector before, he would find it difficult conforming to the dynamics of his new sector, a situation which may affect his performance.
Speaking on Metro TV’s Good morning Ghana on Wednesday, the Managing Editor pointed out that as Finance Minister, Ken Ofori Atta is going to look at how to accumulate social profit, look at the political profit of the economy and which is not done when running a bank.
In his view, he believes the likes of Dr. Osei Akoto and Mr. Osafo Marfo who have experience in in that sector would have done a great job if one was appointed to the Finance Minister position.
“As a Minister of Finance you would have to work to please people who may not have any understanding about the technical workings of the economy and also work to deliver results which are not really economic and that may be a challenge for Ken”, Kwesi Pratt observed.
Though he emphasized that managing the economy would be a challenge for Mr. Ofori Atta, he wished him well, urging him to open himself up for advice from the experienced ones.
Source: myradio360.com
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Kwesi, it would have been grave mistake if it has been the other way round(From Public Sector to Private). I know where you are coming from, your NDC friends even appointed Graduates fresh from the University directly into major positions and I never heard heard you commenting on that one. Any way we will take your advice. Let me school ourselves here. In the public sector two things are lost 1. Monitoring and Evaluation 2. RACI ( Responsible, Accountable, Communicated to, to be Informed).
Kwesi Pratt talks too much and is all over the place! Why don't you try and revive your 'dead' newspaper. You can't even handle your newspaper business, yet you open your large mouth and spew trash everywhere. GO AWAY, Mr Talkative. We have had enough of people like you!
Ken is an economist from Yale but practised investment banking. He knows his stuff. Even big economies don't always appoint economists as finance ministers. Check the UK and other economies. Ken is an investment banker. Running the economy is about knowledge of the economy and applying the right policies. Investment banking is also about knowledge of the economy and applying the right investment principles. There is therefore a connection between Ken's past job and his current one. Let's be positive.
and who told you we care about your opinion?
There may be some truth in what Kwesi is saying, but the flip side is, nobody was born a finance minister. Seth was an accountant, his deputy Ato Forson was a security guy(questionable)...Osafo Marfo was a banker and engineer, Kwabena Duffour was a banker, Baah Wiredu was an account...the only exception was Dr. Kwesi Botchwey. So my point is, lets give Ken a chance. Most people prefer someone with PhD and all those titles, yes he may not have done any rigorous PhD research. I will bet my last dollar on a person educated at Columbia and Yale University.
mr. know all, please keep your comment to yourself.after all look at where your advice has landed your NDC.Nana Addo knows what he is doing Ken is the right pick for the job so go get a life.
Kwesi, you talk too much. Better refund the 2000 to Woyome n stop this noise. What didn't you say about Nana. Better remain quite n save your little face
its not about qualification. the public sector is very different from the private sector. in banks and financial institutions things are done quickly in seconds. in the public sector it is and extremely slow process. private sector, it was his own business he could make decisions that nobody could question. min of finance, the people will question every decision and he will work with the same people Tekper worked with. he will struggle. its simple. it does not mean he cannot succeed. endeavor to rad the story and present sound arguments. thank you
You can be funny Kwesi!!!
Just immediate passed finance minister was just an accountant so what is Mr Pratt talking about, if the the place is too hot for he can get his passport and leave period