Charles Adu Boahen

Charles Kofi Adu Boahen is a Ghanaian politician and a public servant. He is a member of the New Patriotic Party and was the deputy minister for Finance in Ghana until November 2022.[1][2][3][4][5] He is the son of Mrs Mary Adu Boahen and Prof. Albert Adu Boahen, a global academician, historian and politician who became the New Patriotic Party's flagbearer in the 1992 Ghanaian general elections.[6] He was the Minister of State at the Finance Ministry but was dismissed after allegations of corruption.[7][8][9][10]

Charles K. Adu Boahen
Deputy Minister of State for Finance
In office
March 2017 – 14 November 2022
PresidentNana Akuffo-Addo
Preceded byCassiel Ato Forson
Personal details
BornGhana
Political partyNew Patriotic Party
Alma materHarvard Business School, University of Southern California, Achimota School
PortfolioFinance

Early life and education

Charles was born to Albert Adu Boahen and Jane Thyra Boahen. Charles has 4 siblings including Kwabena Boahen, a professor of biomedical engineering at Stanford.[11]

He had his BSc in chemical engineering from the University of Southern California. He also had his MBA from Harvard Business School.[12][13] He attended Achimota School, where he obtained his O Levels, and Mfantsipim School, where he had his 'A' Levels.[14]

Career

Hon. Charles Kofi Adu Boahen has over 19 years of experience in Finance, specifically in Cooperate Finance, Investment Banking, Asset Management and Private Equity.

After school, he worked with companies such as the $400mm AIG African Infrastructure Fund as an investment officer,[15] Salomon Smith Barney which is now part of Citigroup on Wall Street at their Investment Banking Division where his responsibilities included various corporate finance and mergers & acquisitions assignments, primarily in the Chemicals and Energy sector. He was a Director and Regional Head of Corporate & Investment Banking for Standard Bank of South Africa. He was the vice president for JP Morgan for over five years and head of investment banking for Sub-Saharan Africa[16] with the exception of South Africa.[17] He was the Senior Country Representative at JP Morgan, Nigeria.[18]

He is the founder and CEO of Black Star Advisors which is an investment bank and asset management firm and Primrose Properties Ghana, a real estate development company.[12] He founded his business consultancy firm, the Black Star Advisors (BSA) in 2007.[19]

In January 2023, his company Black Stars Brokerage certification to operate as a foreign exchange broker by the Bank of Ghana was renewed.[20]

Political career

Following vetting, Parliament approved his nomination as Minister of State at the Finance Ministry in June 2021.[21] Prior to that, he was Deputy Finance Minister responsible for Finance under the Nana Akuffo-Addo administration from April 2017 – Jan 2021.[22]

Controversy

On November 14th, 2022, the President of the Republic of Ghana sacked him from his position as Minister of State at the Finance Ministry on account of corruption related to the illegal mining activities popularly known as "Galamsey" (filmed by investigative journalist Anas Aremeyaw Anas in the expose "Galamsey Economy") in Ghana. He was not charged.[23]

After he was sacked from the ministry of finance he still served on the BOG board as a director from the finance ministry in 2022 BOG report.[24]

References
  1. "Deputy Ministers". Government of Ghana. Retrieved 2 August 2017.
  2. "Akufo-Addo releases names of 50 deputy and 4 more ministerial nominees". Graphic Ghana. 15 March 2017. Retrieved 2 August 2017.
  3. "List of Akufo-Addo's 50 deputy ministers and four news ministers". Yen Ghana. 15 March 2017. Retrieved 2 August 2017.
  4. "Akufo-Addo names 50 deputies, 4 ministers of state". Cifi FM Online. 15 March 2017. Retrieved 2 August 2017.
  5. "Akufo-Addo picks deputy ministers". Ghana Web. 20 February 2017. Retrieved 2 August 2017.
  6. "Boahen, A. Adu 1932–2006 | Encyclopedia.com". www.encyclopedia.com. Retrieved 2023-08-29.
  7. "COVID-19 cost Ghana GHS21 billion – Charles Adu Boahen". Citinewsroom - Comprehensive News in Ghana. 2021-06-02. Retrieved 2021-06-02.
  8. "'Finance Minister, Charles Adu Boahen benefiting directly from our woes' – Ablakwa". GhanaWeb. 2022-03-24. Retrieved 2022-08-07.
  9. Segbefia, Sedem (2021-11-05). "Investors reassured of strong economy amid Eurobond selloff". The Business & Financial Times. Retrieved 2022-08-07.
  10. "MoMo tax won't affect about 40% of Ghanaians – Adu Boahen". Citinewsroom - Comprehensive News in Ghana. 2021-11-18. Retrieved 2022-08-07.
  11. "Kwabena Boahen". Stanford Profiles. Retrieved 21 March 2023.
  12. "Charles Adu Boahen | Ministry of Finance | Ghana". www.mofep.gov.gh. Retrieved 2020-12-07.
  13. "Confirmed: Akufo-Addo nominates Charles Adu-Boahen as Minister of State at Finance Ministry". Graphic Online. Retrieved 2022-08-07.
  14. "Charles Adu Boahen to be elevated to Minister of State". The Ghana Guardian News. Retrieved 2022-08-07.
  15. "What you didn't know about Charles Adu Boahen". Pulse. Retrieved 21 March 2023.
  16. "Charles Adu Boahen | Ministry of Finance | Ghana". mofep.gov.gh. Retrieved 2022-08-10.
  17. "What you didn't know about Charles Adu Boahen". GhanaWeb. 2022-11-22. Retrieved 2023-08-29.
  18. "What you didn't know about Charles Adu Boahen". GhanaWeb. 2022-11-22. Retrieved 2023-08-29.
  19. CoverGhana (2022-10-25). "Charles Adu Boahen Biography, Age, Neth worth, Education, Wife, Children, Leadership, Political Career". Coverghana.com.gh. Retrieved 2023-09-07.
  20. "Charles Adu Boahen's firm among BoG's nine certified forex brokers". GhanaWeb. Retrieved 21 March 2023.
  21. "Parliament approves Charles Adu Boahen, 11 Deputy Ministers". My Joy Daily. Retrieved 27 March 2023.
  22. "Charles Adu Boahen - Founder of Adu Boahen Foundation". ideamensch.com. 2023-02-24. Retrieved 2023-09-07.
  23. "Ghana president fires junior finance minister over mining expose". www.aljazeera.com. Retrieved 2022-11-15.
  24. "Charles Adu Boahen relocates to South Africa". www.myinfo.com.gh. 2023-08-02. Retrieved 2023-09-16.


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