Dr Duffuor, who also served as the Finance Minister under the Mills administration from 2009 to 2012 made the declaration at the Press Centre in Accra on Thursday, November 3.
According to him, the decision to run for president is borne out of a desire to see an improvement in the living standards of the average Ghanaian.
“Our economy is in shambles, the youth are unemployed, and they are very desperate. Ghanaians everywhere are going through very difficult times. We are lacking the most basic necessity of life, this is not what our founding fathers envisaged for us. We are in difficulty and I want to inform you that the time for change is now.”
“Therefore, I am announcing my intention to contest the flagbeareship of the National Democratic congress anytime the party opens nominations. I will offer myself once again to serve the land of my birth with humility and sacrifice when given the chance to do so,” the businessman said.
Duffuor is the founder and chairman of HODA Holdings, a business entity comprising Insurance, Banking, Real Estate, Farming, Mining and Media.
He is also the founder and president of the Institute for Fiscal Studies in Ghana, a non-profit think-tank providing economic advocacy and training, which he established in March 2013. He was also the founder of uniBank which controversially collapsed in 2018.
Kwabena Duffuor had his secondary education at the Prempeh College at Kumasi in the Ashanti Region of Ghana. He proceeded to the University of Ghana, where he graduated in 1968 with a B.Sc. degree in economics.
His postgraduate studies were at Syracuse University in New York, United States, where he obtained a Master in Business Administration degree in Finance and Banking and a Master of Arts in Economics in 1975. He was also awarded a Doctorate of Philosophy in International Finance in 1979 at the same university.