Former Finance Minister Dr. Kwabena Duffuor is indeed finding it tough and difficult to hold his properties as the latter has been forced to put up some of his assets for sale to repay off some loans to the Bank of Ghana (BoG).
Some of the assets of Dr. Duffuor which has been put up for sale to meet the Bank of Ghana loan repayment obligation include a plush 8 storey office residential building with a Multi-storey car park located at Ridge Residential Area, PLOT number 67 and PLOT 8&9 7th Ave/Lybia Ave behind Ridge Towers among others.
In March, the BoG has announced it has taken over the management of a private bank, Unibank.
The BoG said Unibank “persistently suffered liquidity shortfalls and consistently breached its cash reserve requirement.”
Governor of the Central Bank explained that the takeover is due to challenges facing the bank.
He mentioned weak supervisory standards and weak operations as the cause of the challenges.
He said the bank has had to fall on the central bank for money to the tune of 2.2bn cedis since 2016 to enable it to operate. The central bank appears fed up with the lack of improvement in the bank’s fortunes despite the bail-outs.
Net worth
In 2016, he was named as one of the richest men in Ghana. Other than Kwabena Duffuor’s massive shareholding in UniBank, he serves as the CEO of House of Duffour Asset Holdings.
He has acquired lots of benefits from his business dealings and he is widely known as the founding father of IFS (The Institute for Fiscal Studies).
Apart from his own essential presence, his sons are famous for their significant roles in the commercial industry in Ghana. Currently, Kwabena Duffuor is worth $680 million.
