Bank of Ghana Shakeup: First Deputy Governor Dr. Maxwell Opoku-Afari Announces Early Departure

In a significant shift at Ghana’s central bank, First Deputy Governor Dr. Maxwell Opoku-Afari has also announced his early departure from the Bank of Ghana, opting to proceed on leave just months before his official tenure expires.

The announcement, made via an official press release from the central bank on Tuesday, indicates that Dr. Opoku-Afari will begin his leave from February 5, nearly six months ahead of his scheduled August 2025 term conclusion. The move has received formal approval from President John Mahama’s office.

Dr. Opoku-Afari’s departure marks the end of an eight-year journey at the apex bank, having first assumed the role of First Deputy Governor in August 2017. His leadership tenure spanned two four-year terms, with his reappointment occurring in August 2021, in accordance with the Bank of Ghana Act, 2002 (Act 612).

The timing of his early exit comes at a crucial period for Ghana’s financial sector, which has been navigating through various economic challenges. Under his tenure, the Bank of Ghana implemented several significant monetary policy initiatives aimed at stabilizing the nation’s economy.

The central bank acknowledged Dr. Opoku-Afari’s contributions in its statement, expressing gratitude for his service to both the institution and the republic.

The Bank of Ghana, established in 1957, plays a crucial role in Ghana’s financial system as the country’s central bank and primary monetary authority. The position of First Deputy Governor is particularly significant, being second only to the Governor in the bank’s hierarchy.

Market analysts will be watching closely for any signals about who might step into this crucial role, as the appointment could influence the direction of Ghana’s monetary policy in the coming years.