Zakari Mumuni

Zakari Mumuni is a Ghanaian economist, academic, and central banker currently serving as the first deputy governor of the Bank of Ghana. He was appointed to this position in February 2025 by John Mahama.

Zakari Mumuni
1st Deputy Governor of the Bank of Ghana
Incumbent
Assumed office February 2025
President	John Mahama
Personal details
Born	Ghana
Alma mater	University of Ghana, University of Nottingham
Occupation	Banker
Profession	Economist

Education

He received his first degree in economics from the University of Ghana in Legon, followed by an MPhil in economics in 2001.

In 2018, he earned his Doctor of Philosophy in Economics from the University of Nottingham in the United Kingdom and studied in areas of monetary policy, inflation targeting, currency rate management, central bank independence, and financial growth in Africa.

Career

Early career

Prior to assuming the role of Deputy Governor, Mumuni the worked as a foreign service officer in Ghana's Ministry of Foreign Affairs and served on discussions on economic diplomacy, trade, and policy.

Bank of Ghana

Mumuni joined the Bank of Ghana in 2002 and has served in several technical and leadership roles within the institution. His role is focused on monetary policy operations, macroeconomic research, financial market development, and economic forecasting. He works with the team in charge of economic modeling and policy support for the Bank's Monetary Policy Committee while serving as head of the Modelling and Forecasting Office in the Research Department.

As an assistant to the governor, he works with policy design with the Ministry of Finance, the International Monetary Fund, and other international institutions. Before becoming first deputy governor, he was director of the Financial Markets Department and a member of the Bank of Ghana's Monetary Policy Committee.

First Deputy Governor of Bank of Ghana

John Dramani Mahama appointed Mumuni as the Bank of Ghana's First Deputy Governor in February 2025 to help the governor deal with foreign exchange operations, financial market oversight, monetary policy implementation, and policy coordination.

He has talked about international payment networks, digital banking, and financial inclusion in Africa at his time at BoG.

Academic work

Mumuni has taught economics at Ashesi University and the University of Ghana.

His published studies include topics like:

• Monetary policy transmission
• Central bank independence
• Inflation dynamics
• Financial development in Africa
• Exchange rate behaviour

Selected publications

• Essays on Macroeconomic Policy and Inflation in Lower Income Countries.
• Exchange Rate Determination in Ghana: The Monetary Approach.

Other appointments

As the First Deputy Governor of the Bank of Ghana, Mumuni serves as a member on many Government of Ghana agencies and committees that deal with financial policy and management, including:

• External Director, Ghana Interbank Payment and Settlement Systems.
• Member, Bank of Ghana Board
• Member, Ghana Revenue Authority Board
• Chair, Ghana Fixed Income Market Committee
• Chair, Central Securities Depository Board
• Chair, National Banking College Council
• Member, Minerals Income Investment Fund
• Member, National Pensions Regulatory Authority
• Member, Ghana Statistical Service Board
• Member, Ghana Investment Promotion Centre
• Member, Ghana International Bank Board
• Chair, Advisory Board of the College of Humanities at the University of Ghana.

Public engagements

In 2026, he addressed the 3i Africa Summit in Accra, where he discussed the role of regulatory coordination and interoperable payment systems in strengthening Africa's digital financial infrastructure.