Minister for Finance and Economic Planning


Honourable Yaw Osafo-Maafo, the Minister for Finance and Economic Planning, had his secondary education at Achimota School in Accra, where he was awarded the prize for being the best Sixth Form Student by the Ghana Science Teachers Association. He gained admission into the Kwame Nkrumah University of Science and Technology in Kumasi, where he obtained a degree in Mechanical Engineering in 1967.

In 1968, Honourable Yaw Osafo-Maafo obtained a diploma from the Metal Engineering Institute in the United States of America.

He joined the defunct Bank for Housing and Construction and rose through the ranks to become its Managing Director in 1982.

Between 1982 and 1989 when he managed the institution, he expanded the bank’s activities to include international banking with a strong correspondent relationship with foreign banks and acquisition of subsidiaries to undertake building material projects and housing development.

In 1990, he was appointed by the erstwhile Provisional National Defence Council (PNDC) government as the Managing Director of the National Investment Bank.

Honourable Yaw Osafo-Maafo was appointed primarily to undertake the restructuring of the bank as part of the Financial Restructuring Programme of the Government of Ghana. He succeeded in turning the bank around to declare profits within two years.

In 1992, he was elected by the Ghana Institution of Engineers to represent it at the Consultative Assembly, which prepared the 1992 Constitution.

The Minister, thereafter, engaged in consulting assignments and organised international seminars in management techniques and financial resource utilisation.

His contribution to the banking industry was recognised in the West African sub-region and was honoured as an outstanding contributor to Banking in the sub-region by the West African Bankers Association in 1989.

He is a founding member of the New Patriotic Party (NPP) and has represented the Akyem Oda Constituency on the ticket of the party in Parliament since 1996.