Former Chief Executive Officer of Cal Bank, Frank Adu Jnr, has delivered a damning verdict on the economic leadership of former President Nana Akufo-Addo and his Finance Minister, Ken Ofori-Atta, describing their stewardship as nothing short of a disaster.
Speaking passionately on JoyNews’ PM Express on Monday, June 30, Adu Jnr did not mince words when asked about the legacy of the man who once held the keys to Ghana’s economy.
“Disaster! Disastrous,” he said bluntly, summarizing his disappointment in just one word.
His comments add to the growing national conversation about the economic missteps of the Akufo-Addo administration, which many Ghanaians blame for the hardship that has gripped the country in recent years. According to Adu, the heavy toll the economy took on everyday citizens was the deciding factor in the outcome of the 2024 general elections.
“The People Spoke Through the Ballot”
For Adu Jnr, the electoral defeat of the New Patriotic Party (NPP) in 2024 was no surprise. He believes it was the inevitable response of a suffering population.
“Look, if it wasn’t disastrous between him and the president, the people of Ghana wouldn’t have voted the way they voted in 2024. It’s not me saying it; the verdict is captured in the results of the elections. It’s as simple as that,” he stressed.
He further noted, “You do not run the economy where almost everybody is suffering and expect that the people will not object. And that’s what the voters of this country did last year.”
Adu’s remarks point to a broader frustration among Ghanaians about the rising cost of living, growing public debt, and what many see as mismanagement of the country’s finances under Akufo-Addo’s second term.
What makes Adu’s criticism even more striking is his close personal relationship with Ken Ofori-Atta. Adu Jnr disclosed that their families are connected and that their bond dates back decades.
“We are a kind of family with Ken Ofori-Atta. On my first trip to the US, I stayed with Ken. We slept in the same bed. So that’s the relationship,” he revealed.
Yet, despite this deep personal connection, Adu did not hesitate to hold Ofori-Atta accountable for what he sees as failed leadership. He recalled the sense of hope that surrounded Ofori-Atta’s appointment as Finance Minister in 2017.
“I remember when he was appointed. I sent him a message, congratulating him and urging him to do the best he could for this country and leave a legacy. That’s what we all expected. We were all very hopeful, but subsequent events have betrayed that hope,” he lamented.
Frank Adu Jr’s comments echo the sentiments of many Ghanaians who feel let down by an administration they once trusted to transform the economy. The former banker’s perspective adds weight to the public debate as citizens and analysts alike continue to assess the true impact of Akufo-Addo’s presidency and the legacy of Ken Ofori-Atta’s economic management.
As Ghana looks ahead to new leadership, voices like Adu’s remind the nation of the critical importance of accountability, responsible governance, and economic policies that truly serve the people.
