Politics can be an enriching venture in terms of money. Because of this, several politicians, especially in Africa, have gone into politics not necessarily to serve the people but to satisfy their own selfish desires. There are, however, some with the genuine urge to serve their people who have ventured into politics after making their money from other ventures. But as seen in most countries, there are always some bad eggs who venture into politics to enrich themselves. They would treat it like a do-or-die affair, trying to obtain the people’s mandate by all means to have access to the country’s wealth.
The political scene in Ghana isn’t very much different from what obtains in most African countries, considering their very prosperous economy. The political scene is fraught with different personalities from different parts of the country with the mandate to serve the people, but are they really serving the people? One thing that can be said about the Ghanaian government generally is that they are very high-handed while dealing with criminals in every sphere of the economy.
This in itself might deter politicians from embezzling public funds. Nevertheless, Ghana is one country that is endowed with natural resources, and its economy has been strengthened by centuries of relatively sound management from its leadership, which has provided a competitive business environment and sustained reductions in their poverty levels. It should therefore not come as a surprise to see billionaires in this list of the richest politicians in Ghana.
The Richest Politicians in Ghana and Their Wealth
1. Dr. Kwame Addo Kufuor
- Age: 83 Years Old (Born 14th July 1940)
- Net worth: $1.2 billion
- Office: Member of Parliament for Manhyia and Bekwai, Minister of Interior, Minister of Defence.
- Active in Politics Since: 1997
- Other Sources of Income: Medical Doctor
- State of Origin/Region/City: Kumasi, Ghana
Dr. Kwame Addo Kufuor makes it to the top of the list of richest politicians in Ghana with a net worth of $1.2 billion. The astute politician is a trained medical doctor and a member of the New Patriotic Party. He attended the University of Cambridge where he obtained his degree in Medicine. He then proceeded to study at Jesus College and the Middlesex Medical School Hospital.
Dr. Kwame ventured into politics in 1997 after he won the 1996 Ghanaian General Elections for the Manhyia Constituency in the Ashanti Region of Ghana. In 2004, he was also elected as a member of parliament for the Bekwai constituency of the Ashanti Region during the general elections.
Even though Dr. Kwame ventured into politics before his brother John Kufuor became president, many people believe that he had a flourishing political career because of his brother. John Kufuor was the president of Ghana from 7 January 2001 to 7 January 2009. While his brother was in office, Dr. Kwame was the Minister of Interior from 2008 to 2009 and Minister of Defence from 2001 to 2008. Dr. Kwame was appointed as Chairman of the Board of Trustees of the Social Security and National Insurance Trust, the state pension fund, by President Nana Akufo Addo in 2017. The physician turned politician is also involved in several other ventures outside politics, which has added considerably to his wealth.
2. John Dramani Mahama
- Age: 65 Years Old (Born 29th November 1958)
- Net Worth: $900 million
- Office: President of Ghana, Member of Parliament, Vice President, Minister of Communication
- Active in Politics Since: 1997
- Other Sources of Income: Writer, Communication Expert, and Historian
- State of Origin/Region/City: Damongo, Ghana
John Dramani Mahama is a politician who was the president of Ghana from 2012 to 2017. He previously served as Vice President of Ghana from January 2009 to July 2012 before taking over as president on the 24th of July 2012 after the death of the then-President John Atta Mills. He was then re-elected to serve as full-time President.
Mahama is a member of the National Democratic Congress (NDC). He started out his political career as a Member of Parliament for Bole Bamboi from 1997 to 2009. He then went ahead to serve as Deputy Minister for Communication from 1997 to 1998 before becoming the Minister for Communications from 1998 to 2001.
Mahama is the first head of state of Ghana to have been born after Ghana’s independence, and he became the first president to have served at all levels of political office (Ghanaian & Pan-African Member of Parliament, Deputy Minister, Minister, Vice-President and then President).
3. Kwabena Duffuor
- Age: N/A
- Net Worth: $680 million
- Office: Governor of the Bank of Ghana, Finance Minister.
- Active in Politics Since: 1997
- Other Sources of Income: Banking, Lecturing, Founder of HODA Holdings
- State of Origin/Region/City: Kumasi, Ghana
Kwabena Duffuor is a business tycoon with an interest in a plethora of businesses. Thi is why he is on this list as one of the richest politicians in Ghana. Duffuor served as the Governor of the Bank of Ghana from July 1997 to September 2001. He was also the Finance Minister of Ghana from January 2009 to January 2013, during the tenure of John Atta Mills as president. In 1999, he was named as one of the four best Central Bank Governors in the World at an IMF/World Bank meeting.
Duffuor is the chairman and founder of House of Duffour Asset (HODA) Holdings – a business entity with more than 15 business enterprises in Banking, Mining, Insurance, Real Estates, Media, and Farming. He is also said to be the owner and founder of uniBank, which controversially went under in 2018. Duffuor continues to serve on several boards and committees and has won several awards for his contributions to the economic sector in Ghana.
4. Papa Kwesi Nduom
- Age: 70 Years Old (Born 15th February 1953)
- Net Worth: $410 million
- Office: Member of Parliament, Minister for Energy, Minister for Public Sector Reform
- Active in Politics Since: 1997
- Other Sources of Income: Business Consultant
- State of Origin/Region/City: Elmina, Ghana
Paa Kwesi Nduom was a Ghanaian presidential aspirant in the 2007 elections, where he got less than one percent of the vote. After studying for his BSC, Masters, and Ph.D. at the University of Wisconsin–Milwaukee, he worked in the United States for several years before coming back home to contribute his quota to the growth of the economy. He assisted in the establishment of Deloitte & Touche, West Africa Consulting, in 1992.
Nduom ventured into politics in 1997 after he was elected as a member of the Komenda-Edina-Eguafo-Abirem District Assembly for the Akotobinsin Electoral Area. Nduom ventured into national politics in 2000 when he contested in the Ghanaian parliamentary elections to represent the Komenda-Edina-Eguafo-Abirem constituency with the Convention’s People’s Party (CPP). He didn’t win a seat in Parliament until 2005.
Nduom has served as a board member for various companies, including Ghana Heritage and Conservation Trust, Fan Milk Ghana Limited, and Edinaman Secondary School.
He owns major shares in GN Savings and Loans and is also the owner of Coconut Grove Resort in Ghana and Groupe Ndoum.
5. Haruna Iddrisu
- Age: 53 Years Old (Born 8th September 1970)
- Net Worth: $300 million
- Office: Member of Parliament, Minister for Communication, Minister for Trade and Industry, Minister for Employment and Labor Relations
- Active in Politics Since: 2005
- Other Sources of Income: Lawyer
- State of Origin/Region/City: Tamale, Ghana
Haruna Iddrisu is a lawyer and politician who is one of the richest politicians in Ghana. He is currently representing Tamale South in the 7th Parliament of the Fourth Republic of Ghana. He is also currently the Minority Leader in the Parliament.
Iddrisu is one of those lucky few who successfully transitioned from being a student leader during his tertiary education period into mainstream national politics. His rise has been sure but steady since he became the National Youth Organizer for the National Democratic Congress in the year 2002. He has held several positions in the government over the years, including Minister for Communications under President Mills from February 2009 to February 2013, Minister for Trade and Industry between February 2013 and July 2014. He also served as the Minister for Employment and Labour Relations under President Mahama between July 2014 and January 2017. Despite his party’s loss of the Presidential Elections, Iddrisu retained his seat in the 2016 Elections.
6. Kenneth Ofori-Atta
- Age: 65 Years Old (Born 7th November 1958)
- Net Worth: $260 million
- Office: Minister for Finance and Economic Planning
- Active in Politics Since: 2017
- Other Sources of Income: Economist, Investment Banker
- State of Origin/Region/City: Kibi, Eastern Region, Ghana
Kenneth Ofori-Atta was born into the prominent Ofori-Atta family of Ghana. His family has been influential in politics, business, law, and chieftaincy for several decades, so it’s no surprise that Kenneth is on the list of the richest politicians in Ghana. He started out in the private sector and is a renowned economist and investment banker. He has a wide range of business interests in Insurance, Real Estate, Retail Banking, Pharmaceuticals, Private Equity, and Microfinance.
Mr. Kenneth is currently serving as the Minister for Finance and Economic Planning. He was appointed as Minister by President Nana Akufo-Addo in January 2017, and he assumed office that same month. With his position as a cabinet minister, he is an integral part of the inner circle of the president.
Ofori-Atta has served as a director for several companies and is a member of some other boards. He was a Director for Enterprise Group Ltd, International Bank, and Trust Bank Ltd of The Gambia. He is also a Board Member of the Acumen Fund. He was the first African to testify at the US Congress Ways and Means Committee in support of the African Growth and Opportunity Act (AGOA.) in 1997.
7. Nana Akufo-Addo
- Age: 79 Years Old (Born 29th March 1944)
- Net Worth: $250 million
- Office: Member of Parliament, Attorney General, Minister of Foreign Affairs, President of Ghana
- Active in Politics Since: 1997
- Other Sources of Income: Lawyer
- State of Origin/Region/City: Accra, Gold Coast, now Ghana
Nana Addo Dankwa Akufo-Addo is the current President of Ghana. He won the 2020 presidential election and was sworn in for his second term after defeating former president John Dramani Mahama.
Akufo-Addo is a lawyer who got his credentials at the prestigious Inns of Court School of Law in the UK. He has worked in several firms both in Ghana and abroad before venturing into politics. Before his presidential aspirations, he previously served as the 16th Attorney General of Ghana from 2001 to 2003 and subsequently as Minister for Foreign Affairs between 2003 and 2007. He is currently serving his 2nd term as the chairman of the Economic Community of West African States (ECOWAS).
8. Dr. Yaw Osafo-Maafo
- Age: 82 Years Old (Born 1942)
- Net Worth: $220 million
- Office: Member of Parliament, Minister for Finance and Economic Planning, Minister for Education and Sports
- Active in Politics Since: 1997
- Other Sources of Income: Mechanical Engineering
- State of Origin/Region/City: Akyem Awisa, Ghana
Dr. Osafo-Maafo trained as a mechanical engineer in school. He later joined the Volta Aluminium Company (VALCO) as an engineer and then went ahead to rise through the ranks to become the CEO of the same company.
Osafo-Maafo established himself in the financial sector after he successfully restructured two major Ghanaian banks. After that, he got into politics and became a Member of Parliament for a while before moving on to other positions. He has been a Consultant to the World Bank, the United Nations Development Programme, and the African Development Bank for a long time. He has also served as a chairman and a board member for several corporations that have contributed generously to his net worth.
9. Dr. Kwaku Afriyie
- Age: 69 Years Old (Born July 7th 1954)
- Net Worth: $180 million
- Office: Member of Parliament, Minister for Finance
- Active in Politics Since: 2017
- Other Sources of Income: Farming, Medical Doctor
- State of Origin/Region/City: Sefwi Wiawso, Ghana
Dr. Kwaku Afriyie is a consultant physician turned politician. He studied medicine at the prestigious University of Ghana Medical School before proceeding to Tulane University in the United States to obtain a master’s degree in Public Health.
In January 2017, he was appointed by President Nana Akuffo-Addo as Minister of State at the Presidency level in charge of State Interest and Governance Authority (SIGA). His appointment was approved by the Members of Parliament in February 2017. Before this appointment, Dr. Afriyie had served in different capacities at various governmental institutions. He was formerly Minister for Health, Minister for Lands and Natural Resources, Former Regional Minister and Environment, Science, Technology, and Innovation (MESTI).
Asides from medicine and politics, which appears to be his preferred forte, Dr. Afriyie has been involved in other businesses. He is an avid farmer who owns several cocoa plantations. He also has interests in palm oil and cola. Afriyie also owns a private clinic, and all this has contributed significantly to his net worth, which is how he has come to become one of the richest politicians in Ghana.
10. Kwadwo Adjei-Darko
- Age: 75 Years Old (Born 10th May 1948)
- Net Worth: $150 million
- Office: Member of Parliament, Minister of Mines, Minister of Local Government, Rural Development and Environment of Ghana
- Active in Politics Since: 1997
- Other Sources of Income: Artist
- State of Origin/Region/City: Brong Ahafo Region of Ghana.
Mr. Kwadwo is a popular politician who has served in various top government positions as a minister so it isn’t much of a surprise that he is on the list of the richest politicians in Ghana. He served as a Member of Parliament for Sunyani West for three terms and under two different presidents. He was a Member of the Parliament from January 1997 to January 2009.
Adjei-Darko has also headed the Ministry of Mines and the Ministry of Local Government, as well as the rural development and environment of Ghana. He has done a lot of work in facilitating rural development in Ghana, especially when it comes to the mining of diamonds and salt. He is a known advocate for Women’s Affairs and played a major role in the women’s ministry.
At some point during his political career, Adjei-Darko took it upon himself to empower women who were just entering the workforce with cars; he was said to have used his own money to buy cars for them.
11. Mahamadu Bawumia
- Age: 60 Years Old (Born October 10th 1963)
- Net Worth: $150 million
- Office: Vice President of Ghana
- Active in Politics Since: 2008
- Other Sources of Income: Economist, Banker
- State of Origin/Region/City: Tamale, Northern Region, Ghana
After graduating with a First Class Honours Degree in Economics from Buckingham University, Mahamadu Bawumia proceeded to Lincoln College, Oxford, where he obtained a Master’s Degree in Economics and then a Ph.D. in Economics from Simon Fraser University, Vancouver, British Columbia, Canada.
After teaching at various prestigious schools in the international scene and receiving several accolades, he returned to Ghana in 2000 to work as an economist in the Bank of Ghana, where he gradually rose to become the Deputy governor.
Bawumia ventured into mainstream politics in 2008 after he became running mate to Nana Akufo-Addo of the New Patriotic Party. The duo didn’t win the election until 2016 where Mahamadu Bawumia emerged as the Vice President president of Ghana. Mahamadu Bawumia has won several awards and has written many books and publications in several journals.
12. Kennedy Ohene Agyapong
- Age: 63 Years Old (Born 16th June 1960)
- Net Worth: $ 120 million
- Office: Member of Parliament for Assin Central
- Active in Politics Since: 2001
- Other Sources of Income: Farming, Business, Media
- State of Origin/Region/City: Assin Dompim, Central Region, Ghana
Kennedy Agyapong is a well-known Ghanaian politician and businessman. He is a member of the New Patriotic Party and was first elected a member of parliament in 2000. He is one of the longest-standing members of the parliament and remains one of the few Ghanaian politicians who has never lost an election. He has been representing Assin Central since 2012. He is currently the Chairman of the Parliament’s Defense and Interior Committee.
Agyapong is a seasoned farmer and a businessman. Some of his businesses include Hollywood Shopping Centre, Supercare Group of Companies, and Assin Farms. He is a family man who is married with 22 children.
One of the reasons why this politician and businessman is assumed to be one of the richest politicians in Ghana is due to the exotic rides and houses with which he surrounds himself. Agyapong is believed to own 128 houses spread all across Ghana, a private jet, and has also been named the first Ghanaian to own an eight billion cedis, Rolls Royce. There have been calls for an investigation into his wealth from the Customs Excise and Preventive Service.
13. Mr. Kofi Wayo
- Age: 69 Years Old (Born in 1955)
- Net Worth: $30 million
- Office: Parliament aspirant of Ayawaso East of NPP, Founder – United Renaissance Party
- Active in Politics Since: 2000
- Other Sources of Income: Businessman
- State of Origin/Region/City: Kofi Pare, Asamankese, Ghana
Kofi Wayo, who is popularly referred to as the Showman, is an international businessman and politician who seems to derive pleasure in courting controversies. The self-made millionaire’s major source of income is his merchandise in arms where he trades in Kinetic Weapons, DCS, Jet Fighters, and Military Tanks. He burst into the political scene when John Jerry Rawlings was the president. Despite Rawlings been feared by all, Kofi Wayo was open in his opposition to the government. Even though he was born in Ghana, he lived abroad for more than 40 years before returning to Ghana.
Wayo took over the airwaves in series of interviews where he openly criticized the government. He soon joined the NPP and contested on their ticket to join the Parliament, but he lost. He also joined the PNC in 2004 to contest for a seat in the Parliament which he also didn’t win. After his failure to win a seat in the Parliament in 2004, he founded his own political party – United Renaissance Party, to contest to win the mandate of the people.
Kofi Wayo is quite wealthy and has amassed several assets. He is said to own 19 cars, 5 of which are Rolls Royce, Caddilac, Lincoln, Jaguar, and several others. Since he ventured into politics, he has shared in interviews that he no longer feels comfortable driving the expensive cars around while his people wallow in poverty.
14. Alhaji Baba Issifu Kamara
- Age: N/A
- Net Worth: $11 million
- Office: National Security Advisor and High Commissioner/Ambassador to Nigeria
- Active in Politics Since: 1992
- Other Sources of Income: Businessman
- State of Origin/Region/City: Salaga
Alhaji Baba Kamara is a seasoned politician who is also a businessman, so it shouldn’t be a surprise that he is on the list of the richest politicians in Ghana. During President John Dramani Mahama’s tenure, he was Ghana’s National Security Advisor and was the first civilian to hold that position.
Alhaji Baba Kamara has a wealth of experience in security and has connections and affiliations in several African countries like Chad, the Republics of Cameroon, and Sao Tome & Principe. He was also, at some point, High Commissioner/Ambassador to Nigeria. Baba served as Ghana’s Permanent Representative to the ECOWAS Commission from 2009-2012. He was in the US State Department for a Senior Intelligence Management Training course in 2012 and then Department for advanced training in intelligence management, gathering, and analysis (counter-terrorism) in 2013. He also went for training to obtain a certificate in National and International Security at the prestigious Harvard University in the US.
Outside of politics, he is the Founder/Chief Executive Officer of Kamara Limited and African Trans Bridging Limited.
15. Julius Debra
- Age: 57 Years Old (Born 24th April 1966)
- Net Worth: $5 million
- Office: Chief of Staff, Minister of Local Government and Rural Development, Regional Minister
- Active in Politics Since: 2000
- Other Sources of Income: Businessman
- State of Origin/Region/City: Suhum, Ghana
Mr. Julius Debra has been described as a man of few words who prefers action. He studied Archaeology and Sociology at the University of Ghana and has served in different capacities in the government before his appointment as Chief of Staff under President John Dramani Mahama; he served in that capacity from February 2015 to January 2017.
Debra was once Chief Executive Officer of the then Ghana Tourist Board (GTB), now the Ghana Tourist Authority (GTA). He is also the CEO of the Debrah group of companies.
Debra’s other positions in government include the Eastern Regional Minister in 2013 and the Minister of Local Government and Rural Development in 2014.
Recap of 15 Richest Politicians in Ghana and Their Net Worth
- Dr. Kwame Addo Kufuor – $1.2 billion
- John Dramani Mahama – $900 million
- Kwabena Duffuor – $680 million
- Papa Kwesi Nduom – $410 million
- Haruna Iddrisu – $300 million
- Kenneth Ofori-Atta – $260 million
- Nana Akufo-Addo – $250 million
- Dr. Yaw Osafo- Maafo – $220 million
- Dr. Kwaku Afriyie – $180 million
- Kwadwo Adjei- Darko – $150 million
- Mahamadu Bawumia – $150 million
- Kennedy Ohene Agyapong – $ 120 million
- Mr. Kofi Wayo – $30 million
- Alhaji Baba Issifu Kamara – $11 million
- Julius Debra – $5 million
