The Minister of State in Charge of Government Communications and Presidential Spokesperson, Hon. Felix Kwakye Ofosu, has clarified that members of President John Dramani Mahama’s newly constituted Presidential Advisory Group on the Economy will not receive remuneration for their service.
The explanation comes amid public interest in the terms under which the high-level advisory body will operate and concerns about potential costs to the public purse. Speaking on the structure and conditions of service of the group, Hon. Kwakye Ofosu explained that the advisory body is not a permanent institution and its members are not being engaged as consultants.
“If you look at the list, you see that many of these people are already engaged in other activities. There are people who are lecturing the investors, who are already on the public payroll.”
Minister of State in Charge of Government Communications and Presidential Spokesperson, Hon. Felix Kwakye Ofosu,
As a result, he said, there is no expectation of extra remuneration linked to their advisory role. Hon Kwakye Ofosu noted that the question of how often the group will meet has also been left open.
He explained that the frequency and modalities of meetings will be determined by the group itself, likely at its first sitting or through subsequent internal discussions. He stressed that flexibility has been deliberately built into the arrangement to allow members to decide how best to organize their work in line with their mandate.
Despite the lack of fixed meeting schedules or remuneration, the spokesperson emphasized that the group is expected to play a serious and active role in monitoring economic developments. He said the advisory body will keep a close watch on the economy and assess whether the policies being implemented are appropriate and beneficial to Ghana’s long term development objectives.
Hon. Kwakye Ofosu was emphatic that the advisory group should not be viewed as a consultancy arrangement. He explained that remuneration would only arise if members were hired as consultants to deliver specific services, which is not the case.
Offering Independent Counsel
Instead, the group has been called upon to offer independent strategic counsel, drawing on members’ extensive experience and national service ethos. He described the members as individuals with long and distinguished careers who have managed major institutions and advised governments and organizations within and beyond Ghana.
He cited Mr. Kwame Pianim as an example, noting his decades of experience in both public service and private practice, including advisory roles on economic issues in several countries. He also referred to Mr. Ato Brown, whom he described as a prominent businessman with experience at the World Bank and other international financial institutions.
According to the spokesperson, these are not individuals seeking short term financial benefits. Rather, he said they have been invited to place their expertise at the disposal of the nation at a time when firm and thoughtful guidance is needed in managing the economy.
He added that the administration believes Ghana’s economic development requires a shift toward more deliberate and beneficial policy choices, and the advisory group is expected to contribute to that process.
The comments come in the context of President Mahama’s recent appointment of a 13 member Presidential Advisory Group on the Economy, which he chairs personally. The formation of the group is part of the administration’s broader Reset Agenda, aimed at restoring macroeconomic stability, improving policy coherence, and laying the foundation for inclusive and sustainable growth.
The group includes Vice President Professor Jane Naana Opoku-Agyemang, who brings academic leadership and governance experience. Other members are seasoned private sector figures such as Mr. Ishmael Yamson and Mr. Kwame Pianim, both of whom have previously played significant roles in national economic advisory efforts.
Former Deputy Minister of Finance and Deputy Minister for Trade and Industry, Ms. Nana Oye Mansa Yeboaa, contributes policy and trade expertise, while Dr. Kwabena Duffuor, a former Governor of the Bank of Ghana and former Minister for Finance, adds deep experience in central banking and fiscal management.
Industrialist Sir Samuel Esson Jonah and economist Togbe Afede XIV further strengthen the group’s private sector and enterprise-focused outlook. Additional members include Dr. Henry A. Kofi Wampah, another former Governor of the Bank of Ghana, Mr. Ato Brown, an agribusiness investor and former World Bank infrastructure specialist, and Ms. Abena Amoah, Chief Executive Officer of the Ghana Stock Exchange.
Academic perspectives are provided by Professors Priscilla Twumasi Baffour and Patience Aseweh Abor, both respected university researchers. Government officials say the advisory group is intended to operate independently of day to day economic management while offering strategic guidance to the President.
By clarifying that members will not be remunerated, the administration appears keen to underscore the group’s public service orientation and reassure the public about fiscal prudence as Ghana works to reset its economic trajectory.
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