Following the resignation of Boimah Kamara, Augustine Kpehe Ngafuan is widely expected to become the new Minister of Finance and Development Planning of Liberia. Ngafuan, a veteran public servant with a deep understanding of Liberia’s politics and economy, is no stranger to this critical role, having previously served as Minister of Finance before the ministry was restructured.
Born on April 7, 1970, in Monrovia, Ngafuan has a strong academic background that laid the foundation for his public service career. He earned a Bachelor’s degree in Accounting and Economics from the University of Liberia, where he graduated as valedictorian of the Class of 2000. He later pursued an MBA in Finance and Accounting at the William E. Simon Graduate School of Business Administration at the University of Rochester in New York.
Ngafuan first rose to prominence in Liberia’s government during President Ellen Johnson Sirleaf’s administration. In 2006, he was appointed Minister of Planning and Economic Affairs, a position he held until 2012 when the ministry was split into two separate entities: the Ministry of Finance and the Ministry of Development Planning. His tenure was marked by significant achievements, including leading Liberia through the Heavily Indebted Poor Countries (HIPC) initiative, which culminated in the cancellation of nearly $4.9 billion of the country’s external debt. This move was crucial in restoring Liberia’s economic credibility and paving the way for further development efforts.
During his time as Finance Minister, Ngafuan was also instrumental in implementing the Integrated Financial Management Information System (IFMIS), a tool that helped improve transparency and accountability in the management of public finances. His leadership was widely credited for stabilizing Liberia’s economy during the early years of post-conflict reconstruction.
After leaving the Ministry of Finance, Ngafuan was appointed Minister of Foreign Affairs in 2012, a role he held until his resignation in 2015 to contest in the 2017 presidential election. As Foreign Minister, he played a key role in strengthening Liberia’s diplomatic relations and advocating for the country on the international stage, particularly during the Ebola crisis, where he was at the forefront of efforts to secure international assistance.
Ngafuan’s return to the Ministry of Finance and Development Planning is seen as a strategic move, bringing back a seasoned hand to find solutions to the current economic challenges facing Liberia. The country is grappling with issues such as high inflation, unemployment, and the need for robust economic reforms to stimulate growth and development. Ngafuan’s extensive experience and deep understanding of both national and international financial systems are expected to be crucial in steering Liberia through these challenges.
His reputation as a meticulous and result-oriented leader has garnered him respect across political lines. Many see his potential appointment as a sign of the government’s commitment to tackling economic issues head-on and ensuring that Liberia remains on a path of sustainable development.
