Africa-Press – Liberia. — A closer look at his journey and expected impactPresident Joseph Boakai has appointed Augustine Kpehe Ngafuan as Liberia’s new Finance Minister, marking a significant return to a role he previously held during President Ellen Johnson-Sirleaf’s administration. Known for his deep expertise and dedication to public service, Ngafuan’s return is expected to bring continuity and renewed vigor to President Boakai’s economic team as Liberia navigates ongoing financial challenges.
Ngafuan’s return as Finance Minister brings not just expertise but a relatable and grounded leader whose journey from humble beginnings to national and international repute resonates with many Liberians. His extensive experience and accomplishments position him as a key figure in addressing Liberia’s economic challenges under President Boakai’s administration. The Liberian Senate is expected to confirm his appointment soon, officially marking his return to government service.
Born on April 7, 1970, at the Old Maternity Center on Capitol Bye Pass in Monrovia, Ngafuan was raised in a modest family setting that shaped his values of hard work, integrity, and community service. Growing up in Logan Town, Monrovia, Ngafuan began his education at A.B. Tolbert Elementary School and continued through Boatswain Junior High School before attending the Booker Washington Institute (BWI), where he graduated as valedictorian with a diploma in Accounting in 1989. His outstanding academic achievements earned him a Merit Award for Academic Excellence from the West African Examinations Council (WAEC), further setting the stage for his future successes.
Ngafuan pursued higher education at the University of Liberia, where he graduated summa cum laude with a Bachelor of Business Administration in Accounting and Economics in 2000. During his time there, he was elected President of the University of Liberia Student Union, leading nearly 12,000 students, and demonstrating his leadership skills early on. His pursuit of excellence continued as he earned an MBA in Finance and Accounting from the William E. Simon School of Business at the University of Rochester in 2004. He also completed several prestigious training programs, including certificates in Central Banking from the Federal Reserve Bank of New York and Public Financial Management from Harvard University.
Ngafuan’s professional journey began at the Central Bank of Liberia, where he worked as a Bank Examiner and later advanced to Head of International Banking. His commitment and aptitude for financial management led to his appointment as Director General of the Bureau of the Budget in 2006, making him the youngest member of President Sirleaf’s first cabinet. In 2008, he was appointed Minister of Finance, where he played a crucial role in restoring Liberia’s financial stability. One of his most notable achievements was leading Liberia to reach the Highly Indebted Poor Countries (HIPC) Completion Point in 2010, resulting in the cancellation of nearly US$5 billion in external debt. This landmark achievement not only restored Liberia’s financial credibility but also redirected funds toward essential development projects.
Ngafuan’s tenure was characterized by significant reforms, including the introduction of the Public Financial Management Law, the establishment of the Internal Audit Agency, and the adoption of International Public Sector Accounting Standards. His leadership facilitated the mobilization of funds for key infrastructure projects, such as the paving of major roads, which have had lasting impacts on Liberia’s development.
Following his role as Finance Minister, Ngafuan served as Minister of Foreign Affairs, where he expanded Liberia’s diplomatic and economic partnerships. He played a vital role in securing international support during Liberia’s Ebola crisis and re-establishing diplomatic ties with several countries, demonstrating his adeptness in both financial and diplomatic arenas.
Ngafuan’s recent role as Country Manager for the African Development Bank in Uganda further solidified his reputation as a capable leader in international finance, managing a portfolio of over US$2.2 billion and expanding the bank’s operations in the region. Throughout his career, Ngafuan has maintained a connection to his roots, often reflecting on the values instilled in him from his upbringing and family life.
A family man, Ngafuan is married with four children. He is also known for his love of soccer, having captained the Ministry of Finance’s soccer team, “Dollars,” to win two successive championships in the Inter-Ministerial Soccer tournament. Additionally, he is an award-winning poet, with his poem “The African Teacher” winning the second prize in the BBC Network Africa 2001 Poetry Competition.
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