MONROVIA, LIBERIA – The Senate Statutory Committee on Ways, Means, Finance, and Budget has scheduled the confirmation hearing for Augustine Kpehe Ngafuan, Minister-Designate of Finance and Development Planning, on Thursday, September 5, 2024. The hearing, which will be chaired by Bong County Senator Prince K. Moye, is open to the public. The committee has encouraged citizens to submit inquiries or questions to committee members, ensuring public engagement in the confirmation process.
Ngafuan’s nomination by President Joseph Boakai on August 30, 2024, comes in the wake of Boima Kamara’s resignation as Minister of Finance. This appointment marks a return for Ngafuan to the Ministry of Finance and Development Planning, a role he held during the Sirleaf-Boakai administration. Ngafuan has a long-standing history of public service under former President Ellen Johnson Sirleaf, where he held key positions such as Director of the Bureau of the Budget, Minister of Finance, and Minister of Foreign Affairs.
Born on April 7, 1970, in Monrovia, Ngafuan began his education at A.B. Tolbert Elementary School and continued at Boatswain Junior High School, eventually graduating as Valedictorian from Booker Washington Institute (BWI) in 1989 with a diploma in Accounting. His academic excellence earned him a Merit Award from the West African Examinations Council (WAEC) the same year. Ngafuan went on to graduate summa cum laude from the University of Liberia in 2000 with a Bachelor of Business Administration (BBA) degree in Accounting and Economics. He further pursued a Master of Business Administration (MBA) in Finance and Accounting from the University of Rochester, New York, in 2004.
In addition to his formal education, Ngafuan has completed professional certifications in Central Banking from the Federal Reserve Bank of New York, Public Financial Management from Harvard University, and Executive Leadership from the Wharton School at the University of Pennsylvania.
His professional career began in 1988 with a brief stint at the Liberia Petroleum Refining Company (LPRC), followed by key roles at the Central Bank of Liberia (CBL). His rise in public service saw him appointed as Director-General of the Bureau of the Budget in 2006, at just 35 years old. Two years later, he became Minister of Finance, where he oversaw significant financial reforms.
During his tenure as Minister of Finance (2008–2012), Ngafuan led Liberia to the HIPC Completion Point in 2010, achieving the cancellation of nearly US$5 billion in external debt and restoring the nation’s borrowing rights. His efforts also secured funding for critical infrastructure projects and strengthened public financial management through the introduction of the Public Financial Management Law and the establishment of the Internal Audit Agency.
After his tenure as Finance Minister, Ngafuan served as Minister of Foreign Affairs and Dean of the Cabinet from 2012 until his resignation in 2015. He later worked as Country Manager for Uganda at the African Development Bank (AfDB), managing projects totaling nearly US$2.8 billion.
As Ngafuan prepares for the confirmation hearing, his extensive experience and achievements in public service make him a well-qualified candidate to steer Liberia’s financial and developmental planning sectors once again. The confirmation hearing is expected to draw significant public attention as the Senate Committee evaluates his credentials and plans for the future of Liberia’s financial system.
