I’M ready for the task ahead - Dr Wampah

He feels honoured to be chosen by the President as Governor of the Bank of Ghana because of his ability to contribute to a sound macroeconomic stability. Ama Amankwah Baafi writes



Dr. Henry Akpenamawu Kofi Wampah appeared likely to be appointed as Governor of the Bank of Ghana when he took over in an acting capacity following the then Governor, Kwesi Amissah-Arthur’s confirmation as Vice President of the Republic of Ghana.

What really came as a surprise to him was his earlier appointment as the First Deputy Governor. “I was not so much surprised with this latest appointment because I have been in the acting position for a while and I had some belief that I would be selected. I am grateful to the President, H.E. John Dramani Mahama for that privilege” he told the GRAPHIC BUSINESS.

Among his key tasks are price stability, broadly stable exchange rates, and a viable financial sector; assignments he says, he is ready for.

He sounded prepared for the job because he strongly believes that the bank has laid the ground to ensure macroeconomic stability. Undeniably, he sees it as a challenging job considering the pressure, yet he hopes to perform while counting on the strong technical support provided by bank staff to succeed.

In addition, the objective of the central bank has been clearly enshrined in the BoG Act 612, that is, to ensure price stability and create an enabling environment for sustainable economic growth. Together with his team, he intends to pursue these objectives with a high level of commitment.



CAREER PATH

Dr. Wampah began his career at the Bank of Ghana in September 1986 as a Deputy Manager and rose through the ranks to become a Director in 2006. He has served the Bank of Ghana in various capacities as Head of Statistics Office, Head of Public Finance Office and Head of the Research Department.

Whilst still with the bank, he worked at the International Monetary Fund, Washington DC with the Monetary Operations Division of the Monetary and Exchange Affairs Department and the Africa Department as a Special Appointee from May to December 1998.

He was appointed to the position of First Deputy Governor of the Bank of Ghana in April 2009. Prior to this appointment, he was the Director of the Research and Statistics Department of the West African Monetary Institute (WAMI).

In this capacity, he supervised the planning and implementation of the macroeconomic convergence monitoring programme of the West African Monetary Zone (WAMZ), and was extensively involved in preparing the five member countries of the zone (The Gambia, Ghana, Guinea, Nigeria and Sierra Leone) for the proposed monetary union, in the areas of macroeconomic convergence and policy harmonization (monetary policy, statistics, fiscal policy and exchange rate management).

He participated in a Technical Assistance Mission on Monetary Operations and Banking Soundness to the Gambia, and also worked on a project on economic integration in East Africa.

Dr. Wampah has a background in teaching, having undertaken summer teaching appointments with McGill University, Montreal, Canada and also assignments with the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana, Legon in the areas of economic statistics and mathematics.

He has also participated in several international conferences and seminars and authored a number of publications and working papers.



EDUCATIONAL BACKGROUND

The new Governor obtained a B.A. (Hons) Economics and Statistics degree in 1977 from the University of Ghana, Legon. He studied for a Masters’ Degree (1983) and a Ph.D (1986) in Economics with specialisations in econometrics and public finance from McGill University.

He had his secondary education at Hohoe E. P. Secondary School (GCE ‘O’ Level) and Konongo-Odumase Secondary School (GCE ‘A’ Level). He had his elementary education at Ve Golokwati E.P. Primary and L.A. Middle Schools.



HOBBIES

He is a football enthusiast and used to play for Akuafo Hall, Annex II in the inter-hall matches at the University of Ghana, Legon and also in the inter-house competitions in Konongo Odumase Senior High School where he had his ‘A’ level education. Nevertheless, he is now more of a spectator.



FAMILY BACKGROUND

The head of the Central Bank comes from a very humble beginning yet he enjoyed his childhood. His father worked with the Ghana Highway Authority and was posted to several regions including Ashanti, Volta, Northern part of Volta, Western and Brong Ahafo.

This afforded him the opportunity to know places and make lots of friends, such that since his confirmation he has received several congratulatory messages from all over the country.

He is married to Mrs. Victoria Wampah, a business woman and blessed with two girls and three boys. Though he comes from Anfoega Bume in the Kpando District of the Volta region, he lived mostly in Hohoe and was born in Worawora in the Jasikan district. GB