The Ministry of Finance and Economic Planning is the government ministry responsible for the economic and monetary health of Ghana. The Ministry is involved with economic planning, fiscal policy, national accounting, the national budget, and creating an environment for investment and growth.Ministry, Mission
The main offices of the Ministry are located in Accra.Ministry, Contacts
History Komla Agbeli Gbedemah was the first Finance Minister of independent Ghana under Kwame Nkrumah between 1954 and 1961.
The Budget Ahead of Ghana's budget presentation on March 11, 2025, a government official emphasized the importance of accuracy and consistency in presenting the country's economic data. He cautioned Finance Minister Dr. Ato Forson against manipulating economic figures for political gain, stressing that Ghana's economic record should be based on data from institutions like the Bank of Ghana and the Ghana Statistical Service. He warned that presenting an overly optimistic or distorted view of the economy could scare investors away and damage the country's credibility.¹
E-levy The Electronic Levy (E-levy), was introduced in 2022 with a 1.75% rate on all transactions. It is set to be abolished by the government. This move is expected to boost mobile money usage, promote financial inclusion, and enhance business operations for mobile money service providers. Ghana ranked as the best in the world for Mobile Money regulation according to the 2024 GSMA Mobile Money Regulatory Index, is anticipated to see increased mobile money transactions, encouraged digital payment systems, and expanded access to financial services following the E-levy's removal.
Departments and agencies The following are government agencies of the Ministry: Financial Intelligence Center Institute of Accountancy Training Ghana Revenue Authority (GRA) Controller and Accountant General's Department Public Procurement Authority (PPA) Ghana Infrastructure Investment Fund
The Ministry has the oversight responsibilities with regard to: Bank of Ghana (BOG) National Lotteries Authority (NLA) Public Procurement Board (PPB) Ghana Cocoa Board (Cocobod) Revenue Agencies Governing Board (RAGB)
Divisions under the ministry include: Advisor(s) Budget Debt Management Economic Research & Forecasting External Economic Relations Financial Sector General Administration Information and Communication Technology (ICT) Directorate Internal Audit Legal Public Investment Real Sector
List of ministers The first Ghanaian to head this ministry is Komla Agbeli Gbedemah who assumed this position in 1954 when the Britain allowed Kwame Nkrumah to form a government prior to gaining full independence in 1957. The Ministry has at various times been designated as Ministry of Finance or as it is currently, the Ministry of Finance and Economic Planning. NumberMinisterTook officeLeft officeGovernmentParty1Komla Agbeli Gbedemah (MP) (First Ghanaian in this position)19541957Colonial governmentConvention People's Party19571961Nkrumah government2Ferdinand Koblavi Dra Goka (MP)196119643Kwesi Amoako-Atta (MP)196419664Akwasi AfrifaEmmanuel Noi Omaboe19661969National Liberation CouncilMilitary government5Joseph Henry Mensah (MP)19691972Busia governmentProgress Party (Ghana)6Ignatius Kutu Acheampong1972?National Redemption CouncilMilitary government7Amon Nikoi??8Robert K. A. Gardiner14 October 1975May 1978Supreme Military Council (Ghana)9J. L. S. Abbey?197919791979Armed Forces Revolutionary Council10Amon Nikoi19791981Limann governmentPeople's National Party11George BennehMay 1981December 198112Kwesi Botchwey19821993Provisional National Defence CouncilMilitary government19931995Rawlings governmentNational Democratic Congress13Richard Kwame Peprah1995200114Yaw Osafo-Maafo20012005Kufuor governmentNew Patriotic Party15Kwadwo Baah Wiredu2005200716Anthony Akoto Osei2007200917Kwabena Duffuor20092012Mills governmentNational Democratic Congress20122013Mahama government18Seth Terkper20136 January 201719Ken Ofori-Atta27 January 201714 February 2024Akufo-Addo governmentNew Patriotic Party20Mohammed Amin Adam14 February 20246 January 202521Cassiel Ato ForsonJanuary 2025IncumbentMaham's 2nd governmentNational Democratic Congress
See also Controller and Accountant General (Ghana) Economy of Ghana Government of Ghana
References
External links Ministry of Finance and Economic Planning Ministry of Finance and Economic Planning at Ministries section of Ghana.gov.gh