Ghana’s Finance Minister Takes Helm at EBID

Ghana’s Minister of Finance, Dr. Cassiel Ato Baah Forson, has been appointed Chairman of the Board of Governors of the ECOWAS Bank for Investment and Development (EBID). His leadership comes at a critical time for the regional bank as it scales up efforts to finance infrastructure, promote economic integration, and attract new partners.

A Regional Appointment with Strategic Importance

In a unanimous decision made during the 23rd Ordinary Session of the ECOWAS Bank for Investment and Development’s (EBID) Board of Governors, Ghana’s Minister of Finance, Honourable Dr. Cassiel Ato Baah Forson, was named Chairman of the Bank’s highest governing body. The session was held on 14 April 2025 in Banjul, The Gambia.

Dr. Forson takes over from Honourable Seedy Keita, Minister of Finance and Economic Affairs of The Gambia, who has served with distinction. The appointment reflects both Ghana’s rising profile within the ECOWAS region and the trust placed in Dr. Forson’s economic leadership.

The Board of Governors, which oversees EBID’s management and governance, comprises the Ministers of Finance or Planning of all fifteen ECOWAS Member States. As the new Chair, Dr. Forson assumes a central role in guiding the Bank’s strategic course and institutional development over the coming year.

The Bank Driving West African Integration

Founded in 1975 under the ECOWAS Fund, EBID is the financial engine of the Economic Community of West African States (ECOWAS). Its mission is to promote regional integration and development through investment in infrastructure, energy, agriculture, private sector growth, and other socio-economic projects.

With a focus on sustainable development and cross-border cooperation, EBID channels resources into high-impact initiatives that help member states address pressing challenges such as connectivity, industrialisation, and poverty reduction.

The Bank has recently embarked on a major push to increase its capital base and expand its operations. The appointment of Dr. Forson is seen as key to achieving this, particularly in the areas of fiscal oversight, investor confidence, and policy alignment across the sub-region.

A Technocrat at the Helm

Dr. Forson brings more than two decades of experience in economics, tax policy, finance, and public sector reform. A seasoned Chartered Accountant and Tax Practitioner, he has held several high-level positions in Ghana’s financial sector, including a previous role as Deputy Minister for Finance.

His expertise spans macroeconomic management, fiscal consolidation, and international financial cooperation—qualities that align with EBID’s growing ambitions.

Speaking on the appointment, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, expressed strong confidence in the new Chairman’s capacity to lead the institution into its next phase.

“Honourable Dr. Forson’s wealth of experience and deep understanding of regional finance make him exceptionally well-suited to this role,” said Dr. Donkor. “We believe his leadership will energise our efforts to expand operations, attract new capital, and deliver stronger results across the ECOWAS region.”

Ghana’s Commitment to Regional Growth

In Dr. Forson’s absence from the meeting in Banjul, his message was delivered by Ghana’s Deputy Minister for Finance, Honourable Thomas Nyarko Ampem. He reaffirmed Ghana’s commitment to strengthening EBID’s mandate and building upon the institution’s achievements.

According to the Deputy Minister, Dr. Forson is determined to support the Bank in advancing key priorities, such as resource mobilisation, capital recovery, and institutional reform. He also underscored Ghana’s support for broadening EBID’s membership by bringing on board non-regional partners—an initiative aimed at enhancing the Bank’s global competitiveness and sustainability.

“Dr. Forson believes this is a moment of transformation,” said Ampem. “Ghana stands ready to work with all member states to ensure EBID becomes a world-class development finance institution that delivers measurable impact.”

Opportunities and Obstacles on the Road Ahead

The Bank’s new leadership arrives at a time of considerable challenge and change. Across the ECOWAS region, member countries are contending with mounting debt, infrastructure deficits, and a pressing need to rebuild economies following recent global shocks.

At the same time, the region is ripe with opportunity. There is growing interest from international investors, a youthful population driving innovation and entrepreneurship, and momentum behind projects to enhance energy access, transport corridors, digital infrastructure, and food security.

For EBID to meet these expectations, it must continue strengthening its financial position, streamlining operations, and forging new alliances with both public and private partners. The appointment of Dr. Forson is expected to bring fresh energy to these efforts, especially in areas where strong governance and economic foresight are needed most.

A key aspect of the Bank’s future growth strategy involves diversifying its funding base, expanding project pipelines, and increasing the participation of non-regional capital providers. Dr. Forson’s track record in public finance, especially in stabilising Ghana’s economy through targeted reforms, is likely to enhance EBID’s appeal to global development stakeholders.

A Platform for Regional Leadership

Dr Forson’s agenda is expected to focus on boosting investment in regional infrastructure, improving internal governance, promoting intra-ECOWAS trade, and ensuring environmental sustainability across all Bank-funded projects. Attention will also be paid to digital transformation and inclusive growth, in line with broader continental development frameworks such as the African Union’s Agenda 2063 and the African Continental Free Trade Area (AfCFTA).

The coming year will be pivotal for EBID as it seeks to consolidate its gains and broaden its development impact. With Ghana now holding the gavel at the Board of Governors, expectations are high that the institution will accelerate its mission of transforming West Africa into a zone of shared prosperity, connectivity, and economic resilience.

A Time to Lead

As Honourable Dr. Cassiel Ato Baah Forson steps into this important leadership role, the weight of regional expectation rests on experienced shoulders. His appointment as Chairman of EBID’s Board of Governors brings not only expertise and credibility but also a renewed political mandate for deepening cooperation across West Africa.

With strong support from the Ghanaian government and alignment with EBID’s strategic objectives, Dr. Forson’s leadership promises to be a turning point for regional development finance—paving the way for innovative partnerships, stronger governance, and greater outcomes for the people of ECOWAS.