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A Scholary biography of Hon. Yaw Osafo-Maafo.A vibrant MP for Akim Oda in Ghana West Africa. With a solid educational background and the high level of competence which characterizes the career of Honorable Yaw Osafo-Maafo (MP for Akim Oda and a two time minister of the Kufuor Administration), the honorable minister has over the years demonstrated his capabilities for the top job of PRESIDENCY.

Indeed the Honorable Mp’s good sense of judgment coupled with his strong respect for the rule of law has made him very popular and acceptable across all sections of the society. This fundamental acceptance further stems from his strong sense of know-how which he applies to his job through humility and tact.

This amongst others (which we will be outlining below) has gone into our unrelenting effort to rally behind none but the presidential candidacy of the Honorable Yaw Osafo-Maafo, MP in the run up to the 2008 presidential race.

On one hand, this is an expression of our interest to make the best choice for the mother party (New Patriotic Party) and on the other hand, to produce a President who has the foresight, the zeal and the charisma to serve mother Ghana as a whole.

CURRENT STANCE

The honorable Yaw Osafo-Maafo is currently the Member of Parliament for the  Akim-Oda Constituency. He has been their representative in parliament since 1997.

THE SHAPING OF THE MAN

Born and raised in Ghana on the 24th of December, 1942, the Hon. Yaw Osafo-Maafo began his schooling at the Awisa Presby Boarding School. He continued at the Achimota School completing in 1963 and then moved to the now Kwame Nkrumah University of Science and Technology, Kumasi where he studied and graduated with a Bsc in Mechanical Engineering.

The honorable Member of Parliament used the years after to accumulate knowledge which included the following;

Diploma from Metal Engineering institute (Metallurgy) – USA

Certificate in Management – American Management Association

Certificate in Project Implementation and Follow-Up – UNIDO

Certificate in Project Appraisals – UNIDO

Certificate in Crisis Management – Economic Development Institute (EDI), World Bank

Certificate in Financial Sector Restructuring – Economic Development Institute (EDI), World Bank

Certificate in Education and Democracy – Les Aspin Centre for Government, Marqutee University, USA

POLITICAL ACHIEVEMENTS

Finance & Economics

The Honorable Yaw Osafo-Maafo was appointed the first Finance Minister in the Positive Change Government of His Excellency, President J.A Kufuor. His program, amongst others enabled the NPP Government to slash down inflation, push up growth rates and boost spending to cut poverty. This success story is one that is still unfolding, with Ghana increasingly spoken of in the same breath as Africa's golden boy Uganda, with its highly successful development policies.

Ghana's achievements in this regard culminated from the quest for macroeconomic improvements under the able guide of Hon. Yaw Osafo-Maafo, who together with his team launched a program of reform that has to date attracted increasing attention from domestic and international sources.

At the ministry of finance, he was responsible for turning round the economy after a period of high inflation, high interest rates, an unsustainable external and domestic debt, and significant depreciation of the currency.

During his tenure, the Hon. Yaw Osafo-Maafo saw to a level of transparency that was refreshingly high, his willingness to highlight problems was matched by a very practical step to tackling them. Without fear or favor, he undertook a far reaching program to combat fraud within the public sector. This move greatly paid off with the elimination of thousands of ghost names from Government payroll and more importantly culminated in the passing of the three Acts namely, the Public Procurement Act, Internal Audit Agency Act and the Financial Administration Acts

On the eve of adopting the HIPC initiative, Hon. Yaw Osafo Maafo promised a much quicker Completion Point. A point which was achieved as scheduled owing to the strict adherence to the tight fiscal and monetary policies. In July 2005, Ghana passed a milestone and became the 14th country to qualify for full debt relief under the Heavily Indebted Poor Countries (HIPC) program. A deal that saw creditors write off $3.5 billion of debt in nominal terms.

It wasn’t therefore surprising that Ghana's debt of more than 1.644 billion US dollars owed the Paris Club, was cancelled upon reaching the completion point. Today funds ploughed back as a result of the initiative are going into the provision of basic infrastructural needs for the country.

The period among others saw the stabilization of the domestic currency after a period of significant depression against all major currencies. A drastic reduction in inflation from 40.5% in 2000 to 12.4% in July 2004

Other notable achievements include

Increase in the tax revenue from CEDIS4.4 trillion in 2000 down to 12.4% in July 2004

Reduction in the average lending rates from 47.5% to 29.5% and the Bank of Ghana Prime rate from 24.5% in 2002 to 18% in July 2004

Creation of medium term treasury market by creating 1 and 3 year treasury bills in addition to the existing 3 months treasury bills due to dramatic improvement in the stability of the economy

Rise in foreign exchange reserve from $233 million to $1.425.6 million

Net domestic financing decreased from 1117.6 billion cedis to (1732.2) billion cedis

Overall budget deficit reduced from 6.5% of GDP to 1.7% of GDP

Ghana qualified amongst the first nations in May 2004 to benefit from the Millennium Challenge Account instituted by the United States Government

Granted independence to the central bank by law giving it the power to set interest rates and determine monetary policy

Implemented policies in the cocoa sector which led to the highest yields ever in the cocoa sector. Output increased from 389,770 metric tones in the 2000/2001 crop year to 667,732 metric tones by 2003/2004 crop year

Financial sector reforms including the new banking law and other bills to modernize the legal framework for payment systems, the preparation of an insurance bill and draft bills on money laundering, insolvency and financial institutions

As a reflection of the general improvement of the economy, the daily national minimum wage increased between 2001 and 2004 by 267% (4,200 cedis to 11,200) and by dollar terms by 70% All these great achievements led to the honorable Yaw Osafo-Maafo being named African minister of the year 2001 by the “Banker Magazine” a Financial Times Publication and the African Finance Minister of the year 2004 by the emerging Markets Newspaper (www.emergingmarkets.org), a World Bank and IMF meetings publications

….it’s very clear that Hon Yaw Osafo-Maafo is a real hands-on person with a successful track record in his various fields of endeavors which have brought him much honor and rewards.

POLITICAL ACHIEVEMENTS

Education and Sports

In the education and sports ministry, Yaw undertook major education sector reforms aimed at improving the quality of basic, secondary and tertiary education. The reforms also sought to align the education system with the needs of the broader economy.

He managed the take-off of a new national education reform program, focusing amongst other things on the development of the teaching of Math, Science and Information Communication Technology (ICT).

He was also instrumental in setting up a dedicated teacher training college for Math and science and ICT. Moreover, the honorable Yaw Osafo Maafo finalized the bill to parliament for the council for technical and vocational education training (COVET)

During his period in office, he introduced the new distance education scheme for teachers to solve the perennial problem of teacher shortages due to large numbers of teachers taking study leave to attend full-time courses and also oversaw the implementation of the national Basic Schools and capitation Grant scheme, aimed at ensuring universal free basic education

‘‘My dream is to lead Ghana to the World Cup” …Hon. Yaw Osafo-Maafo. As the Minister of Education and Sports, one of his main quests for sports as he indicated during his vetting in Parliament was to give Ghana its “biggest birthday cake”, that is its qualification to the World Cup for the first time. He always believed that football like any other business will only succeed with a sound management foundation and the requisite sponsorship.

As a former Finance Minister, Yaw Osafo-Maafo knew that sports funding will be the least of the troubles of the current one. After all, the prime focus of every government will be on the social sector (thus education and health). The only way forward was to undertake a vigorous search for funding for the world cup campaign; this he did, leading his team to rake in the biggest sponsorship in our sporting history.

With funding came every level of preparation needed to stay in the competition; with funding came motivation in every sense of the word, enthusiasm, drive and a rise in stakes for our great footballers. The team prepared well and we are all witnesses to their success. Indeed the triumph of the black stars in that tournament will arguably be one of the single biggest sporting achievements the country has ever seen.

For a man whose dealings are always geared towards the achievement of set goals, Ghana’s qualification was no mere luck but the end of a properly executed sporting policy of the Ministry under his supervision.

OTHER ACHIEVEMENTS/APPOINTMENTS

The exemplary leadership style of the Hon. Minister traces to the late 60’s where his professional career took off with VALCO as a process and quality control engineer. A couple of years later he was appointed as the Director of the Capital Investment Board (CIB) now the Ghana investment Promotion Centre (GIPC) office in Frankfurt Germany between 1972 and 1976.

The success story did not end there; in 1976 he joined the Bank for Housing and Construction (BHC) as the Chief Operations Manager and between 1979 and 1989 got appointed as the Managing Director of the Bank during which period the bank moved from the bottom 11th position in the country to the 5th largest in terms of deposit base.

His proven performance in corporate restructuring and re-engineering led to his appointment as the new Managing Director of the National Investment Bank (NIB). During his tenure at the NIB, the Bank saw a tremendous growth in both its capital base and profit after a decade of systematic decline.

The honorable Yaw Osafo-Maafo served in two capacities working for Consultant Management Enterprise between 1992 and 1996. First he worked as a Senior Consult/Trainer and then as the Director of Training.

INTERNATIONAL EXPERTISE

Between 1992 and 1996, he performed various consultancy services for reputable international organizations including the World Bank, the African Development Bank (ADB) and the United Nations Development Program (UNDP).

He was part of a team of international consultants who worked on the transformation of the Organization of African Unity (OAU) to the African Union (AU).

He was appointed by the World Bank in 2006 to help in drawing up of the first budget of the newly elected government of Liberia

He also consulted for the World Bank in a number of African Countries and was a member of the first World Bank Financial sector mission to Uganda

OTHER NOTABLE MANAGEMENT PROFILE

Past President of the Executive Committee of the West African Bankers’ Association Chairman of the West African monetary zone convergence council An Executive Member of the African Development Finance Institutions A former Member of the Board of Merchant Bank Ghana Ltd. He is a founding Deputy Chairman of the Ghana Stock Exchange. He has served as the Director of Asante Kotoko Football Club. He was a also a chairman/Member of Board of Directors of many companies including; National Trust Holding Company Nestle Ghana Limited Redco Limited PSCP (Gh) Limited Plant Pool Limited Chairman of CME Board of Directors Methodist Conference General purposes council of the Methodist Church Donewell Insurance Company Divestiture Implementation Committee National Development Planning Commission PAPERS PRESENTED AT VARIOUS SEMINAR AND SYMPOSIA

April 2004 – Washington DC Emerging Trade and investment opportunities in Ghana at a round table discussion hosted by the Whittaker Group, Chargill and the US Ghana Economic Council

May 2004 – Kampala Conference of African Ministers in Finance, Planning and Economic Development

June 2004 – Maputo 4th summit of African Caribbean Pacific Heads of State and Government

June 2004 World Bank Conference – key note speech on restoring Global Balance together

July 2004 – Paris Statement delivered on “reaching the completion point of the enhanced HIPC initiative” to the Paris club

October 2004 – Washington DC Plenary Session of World Bank and IMF Annual Meeting

July 2003 – Tunis African Development Bank – ECOWAS co-operation agreement

August 2003 – Accra Budgetary cycle and budget process – Preparing and presenting the National Budget

September 2003 – Brunei Commonwealth Finance Ministers Meeting on investment promotion

September 2003 – Dubai World Bank Annual Board of Governors meeting

September 2003 – Dubai Annual Meeting of World Bank and IMF

January 2002 Round Table Conference at Akosombo – Budget preparation in developing Countries (the case for Ghana)

September 2002 – London Business and sustainable development at the commonwealth Business centre (CBC) investment conference, London

February 1990 – Abidjan Lack of Harmonization in Banking policies and practices among banks in the West African Sub-Region and its effects on WACH Operations at a seminar on West African Clearing Mechanics

September 1989 – Washington DC Liability Management of the Bank for Housing and Constriction of Ghana

PROFESSIONAL BODIES

Member of the Ghana Institute of engineers

Fellow of the Ghana Institute of Engineers

Hon. Fellow, Ghana institute of Architects POLITICS AND THE NPP

The Honorable Yaw Osafo-Maafo’s contribution and involvement in national politics dates as far back as his days in University; where he was a one time NUGS president.

As an advocate for good governance, he stood strong during the rallies aimed at expressing dissatisfaction at the management of the economy by the then government leading to his arrest a couple of time (even though never imprisoned)

Throughout this period and during the early stages in his career he nurtured his dedication to working in the public sector; a dream he has lived to accomplish till date; rising at every stage of his career.

His quest for a better Ghana saw him play a very active role in the formation of our great party thus the NPP. At a time when the now opposition NDC had ruled the country for so many years by an iron fist. At a time when opposition activities were unlawful if not criminal; a time when the militia of the then PNDC could brutalize any gathering deemed illegal by the ruling stratocracy

As determined as they were our founding fathers (including Nana Atakorah Gyimah, Victor Owusu jnr, Stephen Krakue) defied all attempts to quell their efforts. Some of these men including our own Yaw Osafo-Maafo sold their properties to sustain the movement.

For Honorable Yaw Osafo Maafo, the stakes were even higher considering the fact that he had been appointed by the same Junta to head the National Investment Bank (NIB). It was only a matter of time that he was going to pay back with his job including loss of his farm to “bush fire”. Despite all the mishaps, the honorable Member of Parliament was not perturbed. He, together with his cronies pushed forward for the democratization of the country; a benefit we all enjoy this very day

The unrelenting efforts of our founding fathers through to our first appearance in parliament (of which YOM was a part of) made a great impact on our democratic process. Their first appearance in parliament gave them the leverage to become the voice of the voiceless and the hope for all. The honorable Yaw Osafo Maafo, the then Shadow Minister for Trade and Industry was very instrumental as he has been till date

Despite his heavy schedule the Hon. MP still remains one of the finest Members of Parliament since 1996. His strong bond and dedication to the cause of his people has earned him their trust to date.

The Honorable MP has a solid respect for the rule of law and a strong insight into constitutional issues. It was therefore not surprising that he was elected by the Ghana institute of Engineers to represent it at the consultative assembly which prepared the 1992 constitution of the republic of Ghana. At the consultative assembly, he was the chairman of the committee on the “Rights of the People”.

The honorable Yaw Osafo-Maafo is a very active member of the National Executive Committee of the NPP and as indicated above a founding member of our great party. Moreover he has been a member of the National council since 1992.

As a finance person, he remain a member of the finance committee of the party and a member of the think tank group or the policy advisory group – responsible for preparing the manifesto of the NPP

Additionally, the Honorable Yaw Osafo Maafo was a Member of the team responsible for drafting the NPP constitution and also a Member of the team responsible for drafting the manifesto of the first flagbearer thus Prof. Adu Boahen (may his soul rest in perfect peace)

FAMILY

The honorable Yaw Osafo-Maafo is married to Mrs. Anna Osafo-Maafo, a retired teacher (now a farmer) with whom he has four (4) lovely children

CHURCH

The Honorable Yaw Osafo-Maafo is the Director of Fund Mobilization of the Methodist Church – Ghana. He has been a synod and a conference member of the church since 1987

Contributor:Francis Opoku Asante