In the latest shake-up at the Social Security and National Insurance Trust (SSNIT), President Nana Akufo-Addo has elevated Kofi Bosompem Osafo-Maafo, son of his trusted official Yaw Osafo-Maafo, to the position of Director-General to oversee affairs at the state institution.
He will succeed Dr John Ofori-Tenkorang, who has been asked to “hand over and cease to act as the Director-General of the Social Security and National Insurance Trust (SSNIT) no later than close of business on Monday, 15th April, 2024”, according to a letter dated April 8, which was signed by the Secretary to the President, Nana Bediatuo Asante.
Before his appointment, Kofi Bosompem Osafo-Maafo had been a staff of SSNIT since 2017 and served as Deputy Director-General in charge of Investment & Development.
His senior brother, Kwadwo Gyamfi Osafo-Maafo was also appointed as the Deputy Director in-charge of Cyber Security at the National Communications Authority (NCA) in 2017.
Besides his work at SSNIT, Kofi Bosompem was one of the lead negotiators for the botched Agyapa Minerals deal.
The Agyapa deal was the government’s attempt to mortgage 75.6% of the country’s mineral revenue in perpetuity.
Under the mining leases, Agyapa Royalties was expected to receive 75.6% of royalties from a selected portfolio of underlying gold mines (12 producing gold mines and 4 mines under development).
The government planned to sell 49 per cent of the shares of this company through a public offering and keep a 51 per cent stake. The government deemed this as an “innovative financing solution” to help ease the country’s debt crisis, but the move did not materialize.
Even though critics have raised concerns about the deep involvement of several Osafo-Maafo family members in government and public affairs, the senior presidential advisor and patriarch of the family, Yaw Osafo-Maafo, has justified the appointments in the past.
“My sons are overqualified for the offices they are occupying at the moment. One of them was one time the only black Director of the HSBC Bank at the age of about 35 years. He was actually poached to come and do the work here and not just because he’s my child. He made first-class twice in Michigan in the US, he was given a job, he later said he was fed up with staying in America and so came back home to Ghana. He lectured at Ashesi University and you can ask Ashesi for his performance,” the father defended.
“…They advertised for the job at NCA, and I think he topped the interview. No one should suffer because he’s the child of Osafo-Maafo. If the person is good, he’s good. Why should it be a disadvantage to be an Osafo-Maafo.” he added.
“Kofi had returned home from abroad after schooling and was looking for a job prior to his appointment at SSNIT. Kwadwo, until the advent of the Akufo-Addo government, was working as a Computer Science Lecturer at the Ashesi University College,” he insisted.
Senior Osafo-Maafo has been a key member of the NPP and occupied various positions.
Before his appointment as senior presidential advisor in President Akufo-Addo’s second term, he was the Senior Minister of the Republic of Ghana under the same president from 2017 to 2021.
He was a Member of Parliament for Akim Oda from 1997 to 2009 and previously served as Finance Minister and in other cabinet roles in the Kufuor Administration between 2001 and 2009.
He has held other high-profile ministerial portfolios, including that of education and sports.