Reasons Adu Boahen was removed as Minister of State at Finance Ministry

Charles Adu Boahen has been terminated with immediate effect as a Minister of State at the Finance Ministry by President Akufo-Addo.

This follows allegations leveled against Charles Adu Boahen in the exposé “Galamsey Economy”, by Anas Aremeyaw Anas.

The statement from the presidency said “after being made aware of the allegations… the President spoke to Mr. Adu Boahen, after which he took the decision to terminate his appointment, and also to refer the matter to the Special Prosecutor for further investigation.”

Charles Adu Boahen per his CV published by the Finance Ministry has over 19 years’ experience in Finance, specifically in Corporate Finance, Investment Banking, Asset Management, Private Equity and Real Estate.

Prior to his appointment as a Deputy Minister for Finance, Charles was the CEO of Black Star Advisors (BSA), a boutique investment bank and asset management firm, and Primrose Properties Ghana (PPG), a real estate development company, both of which he founded in 2007.

Prior to that, Charles Adu Boahen was a Director and Regional Head of Corporate and Investment Banking for Standard Bank of South Africa.

Prior to Standard Bank, he was with JP Morgan for over five years as Vice President and Head of Investment Banking for Sub-Saharan Africa where he was responsible for developing the Investment banking business across sub-Saharan Africa excluding South Africa, he was also the JPM Senior Country Representative for Nigeria.

After Business School, Adu Boahen joined the $400mm AIG African Infrastructure Fund as an Investment Officer.

After college, he joined Salomon Smith Barney, now part of Citigroup, on Wall Street in their Investment Banking Division where his responsibilities included various corporate finance and mergers & acquisitions assignments, primarily in the Chemicals and Energy sector.

Charles Adu Boahen has an MBA from Harvard Business School and a BSc in Chemical Engineering from the University of Southern California.