Elsie Addo Awadzi
Addo speaking at the Ghana Securities Industry Association Summit during their 2018 Capital Market Week.
Born
Ghana
NationalityGhanaian
Occupation(s)Lawyer, economist, author
Known for2nd deputy governor of Bank of Ghana
Notable workDesigning Legal Frameworks for Public Debt Management

Mrs. Elsie Addo Awadzi is a Ghanaian international economic and financial lawyer with over 25 years of professional experience working in various capacities in Ghana and internationally. She was appointed by H.E. Nana Addo Dankwa Akuffo Addo The President of the Republic of Ghana as the 2nd deputy governor of the Bank of Ghana in February 2018.[1] She is the second female to hold that position.[2][3] She was elected as Chairperson of the Alliance for Financial Inclusion's Gender Inclusive Finance Committee in 2020.[4]

Education

Elsie Addo graduated from the University of Ghana Business School and University of Ghana Faculty of Law with degrees in L.L.B (1993) and an M.B.A. in Finance (2000). She then furthered her education at the Georgetown University Law Center, where she acquired a master of law degree in international business and economic law (2012).[5][6][7][8]

She later proceeded to the Ghana School of Law and obtained her post-graduate Qualifying Certificate to practice Law in 1995.[9]

Career

Elsie Addo worked as a commissioner of Ghana's Securities and Exchange Commission for six years and then as a Senior Counsel of the IMF's Legal Department (Financial and Fiscal Law Unit), where she advised on financial sector reforms in the context of the IMF's surveillance, lending and technical assistance activities. She had over 25 years of experience working in various capacities in Ghana, Japan, South Africa, and the United Kingdom[6][5][10][8] when she was the second female to be 2nd Deputy Governor of the Bank of Ghana. She was appointed in February 2018 by Nana Addo Dankwa Akufo-Addo[11][10][12][13][14][15][16][17]

Deputy Governor of the Central Bank of Ghana

She is currently the Second Deputy Governor of the Bank of Ghana, becoming the second woman to occupy the position after 29 years when the first woman Vice-Governor, Nana Oye Mansa Yeboaa was appointed.[18] President Nana Addo Dankwa Akufo-Addo's appointment was made after thorough consultations with the Council of State. She replaced Dr. Johnson Asiama who resigned from the position in January 2018.[19][20][21][22] Prior to her appointment, there were multiple sources tipping Mrs. Josephine Anan-Ankomah, then Managing Director of Ecobank Gambia and now, Managing Director of Ecobank Kenya and Group Executive for the CESA region as a possible replacement for Dr. Johnson Asiama when he resigned.[23][24]

In February 2022, President Nana Addo Dankwa Akufo-Addo re-appointed Elsie Addo for another 4-year term.[25][26] Elsie Addo has oversight of the Bank of Ghana’s regulation and supervision of banks and other financial institutions, the macro-prudential function, and other key operational functions.[27]

In March 2022, she gave a speech at the UNCDF International Women's Day.[28]

In April 2022, she also gave a speech at the Ghana Employers' Association's first annual leadership conference.[29]

Banking Sector Clean-up

Elsie Addo came onto the scene in February 2018 after the Central Bank of Ghana initiated measures in 2017 to clean up the banking sector. This led to the closure of two banks and the resolution of several other banks.[30] She has reiterated that the Bank of Ghana does not collapse banks but its owner does and its responsibility is to license and supervise financial institutions and when they fail, take them out in a manner that does not affect the system.[31][32] The second deputy Governor of the Bank of Ghana has indicated that the banking sector remains robust, solvent and liquid after the clean-up exercise and recapitalization of banks.[33]

In the midst of declining inflation, she has appealed to banks especially Commercial Banks to cut down on lending rates to reflect inflation rate.[34][35] According to the Second Deputy Governor of the Bank of Ghana, the banking sector clean-up exercise saved over 3,500 jobs.[36]

== Awards ==

In 2020, she was awarded at the 5th Ghana Women of Excellence Awards because of her contribution to Ghana's economic development which was part of the 2020 International Women's Day celebrations.[37][38][39]

Mrs. Elsie was also awarded the Glitz Africa Corporate Personality of the Year Award at the 2020 edition of the Ghana Women Honours event. At that event, she was honored for her sterling contribution towards shaping the economic management in Ghana, especially in the area of financial Regulations and Public Financial Management.

Works

She is the author of the following works:

  • Designing Legal Frameworks for Public Debt Management[40][41]
  • Resolution Frameworks for Islamic Banks[41]
  • Private law underpinnings of public[41]

Hobbies

Elsie Addo enjoys spending time with her family and her friends. She also likes reading and listening to music.[42]

References

  1. ↑ "Elsie Addo Awadzi, Bank of Ghana: Profile and Biography". Bloomberg. Retrieved 6 September 2023.
  2. ↑ "List of Governors and Deputy Governors of the Bank since its inception". Bank of Ghana. Archived from the original on 16 March 2021.
  3. ↑ "Glitz top 100 inspirational women – Page 100 – Glitz Africa Magazine". Retrieved 28 May 2022.
  4. ↑ "AFI Gender Committee elects Elsie Addo Awadzi as Chairperson of GIFC". GhanaWeb. 17 November 2020. Retrieved 20 November 2020.
  5. 1 2 "Elsie Awadzi appointed as BoG 2nd Deputy Governor". Citi 97.3 FM – Relevant Radio. Always. 12 February 2018. Retrieved 10 October 2019.
  6. 1 2 Hayford, Norvan Acquah (13 February 2018). "Elsie Awadzi named as first female BoG 2nd Deputy Governor | Business & Financial Times Online". Retrieved 10 October 2019.
  7. ↑ "Akufo-Addo Appoints 2nd Deputy BoG Governor". The Ghana Star. 12 February 2018. Retrieved 10 October 2019.
  8. 1 2 "President Appoints Mrs. Elsie Awadzi As 2nd BoG Deputy Governor". Modern Ghana. Retrieved 10 October 2019.
  9. ↑ "Akufo-Addo re-appoints Elsie Addo Awadzi as Second Deputy Governor of BoG". GhanaWeb. 14 February 2022. Retrieved 6 September 2023.
  10. 1 2 "Akufo-Addo appoints Elsie Awadzi as 2nd Deputy Governor of BoG". Graphic Online. 12 February 2018. Retrieved 10 October 2019.
  11. ↑ "10 Ghanaian women who inspired us in 2018". www.pulse.com.gh. 31 December 2018. Retrieved 10 October 2019.
  12. ↑ "VIDEO: Exclusive interview with BoG's Elsie Awadzi". www.myjoyonline.com. Retrieved 10 October 2019.
  13. ↑ Effah, K. (13 February 2018). "Elsie Awadzi appointed as BoG 2nd Deputy Governor". Yen.com.gh – Ghana news. Retrieved 10 October 2019.
  14. ↑ Welsing, Kobina (12 February 2018). "Akufo-Addo appoints Elsie Awadzi as 2nd Dep Governor of BoG | Starr Fm". Retrieved 10 October 2019.
  15. ↑ "Akufo-Addo appoints Elsie Awadzi as 2nd Deputy Governor of BoG". GhanaWeb. Retrieved 10 October 2019.
  16. ↑ "President Appoints 2nd BoG Deputy Governor". DailyGuide Network. 13 February 2018. Retrieved 10 October 2019.
  17. ↑ "Akufo-Addo Appoints Elsie Awadzi as BoG's 2nd Dep Governor". The Publisher Online. 12 February 2018. Retrieved 10 October 2019.
  18. ↑ Boateng, Kojo Akoto (12 February 2018). "Elsie Awadzi appointed as BoG 2nd Deputy Governor". Citi 97.3 FM - Relevant Radio. Always. Retrieved 6 September 2023.
  19. ↑ "A deputy governor of the Bank of Ghana resigns". Reuters. 5 January 2018. Retrieved 6 September 2023.
  20. ↑ Europa (5 January 2018). "2nd Deputy BoG Governor Johnson Asiama resigns". Pulse Ghana. Retrieved 6 September 2023.
  21. ↑ "I was forced to resign – Former BoG Second Deputy Governor". GhanaWeb. 6 January 2018. Retrieved 6 September 2023.
  22. ↑ Hayford, Norvan Acquah (5 January 2018). "Dr. Johnson P. Asiama resigns as gov't considers two". The Business & Financial Times. Retrieved 6 September 2023.
  23. ↑ Gadzekpo, Gilbert (23 February 2023). "UGBS Alumnus Josephine Anan-Ankomah Appointed as MD for Ecobank Kenya". University of Ghana Business School. Retrieved 6 September 2023.
  24. ↑ "Josephine Anan-Ankomah". The AFRICA CEO FORUM. Retrieved 6 September 2023.
  25. ↑ Ndungidi, Patrick (15 February 2022). "Elsie Addo Awadzi reappointed as second vice president of the Central Bank of Ghana". African Shapers. Retrieved 6 September 2023.
  26. ↑ admin (15 February 2022). "Mrs Addo Awadzi re-appointed Second Deputy Governor of BoG". Ghanaian Times. Retrieved 6 September 2023.
  27. ↑ Dogbevi, Emmanuel (13 December 2017). "Dr Johnson Asiama opts to resign from Bank of Ghana - Sources". Ghana Business News. Retrieved 6 September 2023.
  28. ↑ "FULL TEXT: Elsie Awadzi's address at UNCDF International Women's Day dialogue". GhanaWeb. 8 March 2022. Retrieved 28 September 2023.
  29. ↑ "FULL TEXT: Elsie Addo Awadzi's address at GEA first annual leadership conference". GhanaWeb. 22 April 2022. Retrieved 28 September 2023.
  30. ↑ "Elsie Addo Awadzi on turning around Ghana's banking system - Central Banking". centralbanking. 4 December 2019. Retrieved 6 September 2023.
  31. ↑ "Today in History: BoG does not collapse companies, their owners do – Elsie Awadzi". GhanaWeb. 13 February 2023. Retrieved 6 September 2023.
  32. ↑ "Today in History: BoG does not collapse companies, their owners do – Elsie Awadzi". myinfo ghana. 13 January 2023. Retrieved 6 September 2023.
  33. ↑ "Banking sector remains robust and liquid despite economic headwinds – BoG". GhanaWeb. 11 May 2023. Retrieved 6 September 2023.
  34. ↑ "Falling inflation: BoG appeals to banks to cut lending rates". MyJoyOnline. Retrieved 6 September 2023.
  35. ↑ "Reduce lending rates to reflect decline in inflation – BoG appeals to banks". GhanaWeb. 10 May 2023. Retrieved 6 September 2023.
  36. ↑ "FLASHBACK: BoG's action on collapsed banks saved 3,500 jobs —2nd Deputy Governor". GhanaWeb. 4 November 2022. Retrieved 6 September 2023.
  37. ↑ Second Deputy Governor Mrs Elsie Addo Awadzi Receives Woman of Excellence Award. BoG. 9 March 2020.
  38. ↑ "Mrs. Elsie Addo Awadzi Receives Excellence Award - Bank of Ghana". 9 March 2020. Retrieved 13 September 2023.
  39. ↑ webmanager (9 March 2020). "Deputy BOG governor receives Woman of Excellence award". Business World Ghana. Retrieved 13 September 2023.
  40. ↑ "IMF senior counsel explores legal frameworks for public debt management". Central Banking. 3 July 2015. Retrieved 10 October 2019.
  41. 1 2 3 "Elsie Addo Awadzi | International Monetary Fund – Academia.edu". International Monetary Fund – Academia Education. Retrieved 10 October 2019.
  42. ↑ Interview with Mrs. Elsie Addo Awadzi, Second Deputy Governor, Bank of Ghana. The S&L Watch. 2020. p. 6.

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