For the last 33 years, Dr. Kwabena Duffuor has worked towards making an impact in the Ghanaian business world. In fact, other accomplished entrepreneurs in the country have taken notice and have voted him as Marcopolis’ sixth (6th) most influential figure in Ghana. Duffuor, a self-made millionaire, has an estimated net worth of $680 million, and is best known for his position in the government as the Minister of Finance and Economic Planning of the Republic of Ghana.
Duffuor’s journey to become one of Ghana’s most successful public figures began at the University of Ghana, where he graduated with a Bachelor of Science Degree in Economics. He continued his education at Syracuse University and earned a Masters of Business Administration, a Masters in Economics, and his PhD.
After completing his first degree in Economics, Duffuor worked with the Volta River Authority (VRA). In 1969, he moved onto work with the Ghana Commercial Bank as a banker, and eventually rose to become the Chief Economist and Head of Research Department. In 1985, he was appointed as an External Examiner in Finance at the University of Ghana. One of his most prominent positions, however, was being selected by President Jerry Rawlings as the Governor of the Bank in Ghana in the mid 1990’s.
Today, Duffuor is Founder, President, and Adviser of his company, House of Duffuor Assets (HODA) Holdings, which houses over 15 companies across several industries, including real estate, insurance, banking, and more. Star Assurance, one of Ghana’s largest insurance companies, is another company, among many, that are owned by Duffuor. Others include EIB Network and UniBank.
Duffuor is married with five (5) children. Two of his sons, Kofi and Kwabena, play key roles in the family business. Kofi is the Managing Director of Star Assurance, while Kwabena is the Chief Operating Officer at UniBank.
Several institutions have acknowledged Duffuor for his immense contribution to the finance and banking sectors. VIASAT 1 Ghana, the country’s most awarded television station, named Duffuor as its Man of the Year in 2014. Moreover, the Banking Awards by Corporate Initiative awarded him the Lifetime Achievement Award in banking and finance. In 1999, he was also named as one of the four best Central Bank Governors in the World at an IMF/World Bank meeting.
Duffuor has shown to be a man of many talents. He holds several board positions in various companies, including Accra Brewery Limited, Shell Ghana, Ecobank, Ashanti Goldfields, and many more. Duffuor’s three-decade career has changed the banking and finance sector in Ghana in a tremendous way, and his local and international success is the reason why he is Marcopolis’ sixth most influential entrepreneur in Ghana.