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Dr Kwabena Duffuor

Former Minister of Finance and Economic Planning

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Date of Birth:
Place of Birth:

Dr. Kwabena Duffuor, an economist by profession is a native of Kumawu in the Ashanti Region of Ghana. He is married with five children.


He attended Prempeh College where he obtained his Ordinary Level and Advanced Level Certificates in 1962 and 1964 respectively. He studied at the University of Ghana, graduating with a Bachelor of Science Degree in Economics (1964-1968).

Between 1973 and 1979, he was at Syracuse University where he was awarded MBA (Finance and Banking) in 1974, MA (Economics) 1975 and his PhD in 1979. His PhD dissertation was titled "The Impact of the Post 1971 Exchange Rate System on Developing Countries, with Special Reference to Ghana" (Syracuse University, December 1979).

Work History

Dr. Duffuor's working experience spans 33 years. He worked first with the Volta River Authority (VRA) immediately after completing his first degree in Economics. Thereafter he worked with the Ghana Commercial Bank and held various positions within the Bank between 1970 and 1990; Appointed General Manager, Ghana Commercial Bank - London Branch in 1991. He also served for a year at the IMF Africa Department as an Economist from June 1979.

He was appointed the Deputy Governor of the Bank of Ghana in July 1995 and Governor in July 1997 until 2001.

Other Activities:

Dr Duffuor has served and continuous to serve in various capacities as Director or Chairman in eminent institutions such as Star Assurance Company, State Gold Mining Corporation, Unibank Ghana Limited, Shell Ghana limited, Accra Brewery Limited, Ecobank (Abidjan, Cote d'Ivoire), Ashanti Goldfields Company and Ghana International Bank PLC London.

He is also a prominent member of various professional bodies including the Advisory Board of the Institute of Social Statistical and Economic Research (ISSER), University of Ghana, Legon; Economics Society of Ghana, Association of Rural Banks, Ghana; Member of the Board of Governors of the Tweneboa Kodua Secondary School-Kumawu; Fellow of the Charted Institute of Bankers-Ghana, etc.

He taught part time at the School of Administration now (School of Business) of the University of Ghana, Legon (1975-1991).


Dr Duffuor has always been a quiet person in the political arena. He was appointed by President John Evans Atta Mills as the Minister of Finance and Economic Planning on February 13, 2009.

In 2013, when the party won the election under the leadership of President John Dramani Mahama, Dr Duffuor did not take up another appointment to serve the state.