BoG’s top hierarchy must be independent minded – Lord Mensah

Economist and finance lecturer Professor Lord Mensah has urged President John Dramani Mahama to prioritize appointing individuals with independent thinking as deputy governors of the Bank of Ghana (BoG).

His call comes after the appointment of Dr. Zakari Mumuni as First Deputy Governor, with a second deputy governor expected to replace Dr. Elsie Awadzi upon her early retirement on February 28, 2025.

In an interview with Citi Business News, Professor Mensah stressed that the BoG must maintain its autonomy, emphasizing that its leadership should act in the economy's best interests rather than follow political directives.

He criticized previous appointments for compromising the bank’s independence. He called for appointments based on merit and the ability to make independent decisions, ensuring the Central Bank could effectively shape monetary policy and financial stability.