Economist Professor Lord Mensah has emphasized the importance of holding former Finance Minister Ken Ofori-Atta accountable for his decisions, stating that it would send a strong message to investors about Ghana’s commitment to transparency and financial accountability.
According to Professor Mensah, such actions would not only reinforce the country’s stance against financial mismanagement but also serve as a warning to future administrations about the importance of appointing competent individuals to oversee the nation’s finances.
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 assured his return to Ghana in May 2025.
Professor Mensah believes that these developments mark a step toward strengthening Ghana’s financial governance. He asserts that consistently demanding accountability from key economic managers will ultimately 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,” Professor Mensah told Citi Business News.
He further stated, “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.”
Professor Mensah also emphasized the interconnectedness of finance, law, and economics, saying, “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.”
He concluded, “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,” Professor Mensah noted