President Akufo-Addo has directed the Director-General of the Social Security and National Insurance Trust (SSNIT) to hand over the administration of the organisation to one of his deputies, Kofi Bosompem Osafo-Maafo with effect from April 15, 2024.
Here is the profile of the sacked Director-General.
Dr. John Ofori-Tenkorang, born in 1965 in Kwahu-Tafo, is an astute and distinguished Ghanaian corporate executive with over thirty-five years’ expertise in mid and senior management roles.
His extensive experience spans continents, making him a versatile and accomplished business leader.
He is currently the Director-General of the Social Security and National Insurance Trust (SSNIT), Ghana’s statutory public pension institution. A position he will cease to hold on April 15, 2024 because President Akufo Addo terminated his appointment for undisclosed reasons.
The core values that drive his work include innovation, integrity, leadership by example, and a commitment to excellence. Dr. Ofori-Tenkorang was previously an independent contractor with Godel Commodities Management, Greenwich CT, USA, and Dubai National Resources World, where he offered consulting in deal structuring and the setting up of a National Resources Sovereign Wealth Fund within the Dubai World Conglomerate.
Dr. Ofori-Tenkorang started his high school education at St. Peters Secondary School, Nkwatia and completed at Lester B. Pearson High School in Ontario, Canada where he was awarded a scholarship to study. He had his tertiary education at Massachusetts Institute of Technology (MIT), where he obtained his Bachelor’s degree in Electrical Engineering, Master of Science and Doctor of Science in Electrical Engineering and Computer Science.
He began his professional career at MIT, where he worked in various capacities as an instructor and researcher in novel electric motors and propulsion systems for electric vehicles. Notably, his contributions at Quantum Corporation and Lutron Electronics Co. led to him being awarded a United States patent for his invention of state-of- the- art light dimming technologies.
After years of working with MIT, Dr. John Ofori-Tenkorang wanted a career change. He joined the American International Group (AIG) at their financial services subsidiary AIG Trading Group, where he served variously as Assistant Vice President and President.
As a testament to his acumen in the financial sector, he was moved to AIG Financial Corp. as Vice President and subsequently to Banque AIG as Executive Director responsible for AIGFP’s investment banking activities in Africa.
Since 2017, Dr. John Ofori-Tenkorang has served as the Director-General of SSNIT, during which period he has overseen and implemented systems and processes that have saved the Trust over GHS479 million from the deactivation of over 19,000 ghost pensioners from the payroll. Under his leadership, processes and procedures have been streamlined, resulting in a significant reduction in the average processing time and payment of pensions from 47 days in 2016 to about 2 weeks.
As part of his vision to expand coverage of the Scheme to all workers in Ghana, SSNIT has rolled out the Self-employed Enrolment Drive (SEED), an initiative targeted at the self-employed who are yet to join the Scheme.
In 2020, Dr. Ofori-Tenkorang oversaw the seamless integration of the SSNIT and GhanaCard numbers. He continues to lead the digitalisation agenda with the successful implementation of the SSNITPAY platform and the SSNIT App, which is to be launched soon. The introduction of these platforms have improved operational efficiency and brought added convenience to Members and Clients.
He has been pivotal in shaping SSNIT’s investment portfolio and has spearheaded a major review of SSNIT’s investment policy which serves a guide for prudent investment decisions by the Trust.
Under his leadership and direction, SSNIT has built and transformed its stakeholder partnerships with organised labour unions, government, religious bodies, informal sector groups and the Ghana Employers Association.
Dr. Ofori-Tenkorang serves on numerous boards of both international and local institutions.. His illustrious career has been marked by prestigious corporate leadership and personal awards, including the 2022 Outstanding Public Service Personality of the year, 2021 Best CEO of State-Owned Enterprises, and Outstanding Leadership & Contribution towards Welfare of Pensioners award in 2020.
He is a distinguished member of the Tau Beta Pi, Eta Kappa Nu and Sigma Xi, which are all honour societies reserved for practitioners who have achieved eminence in the fields of engineering and science. He also is a member of the West Africa Nobles Forum (WANF).
