By Stephen Asante
Accra, Nov. 20, GNA – President Nana Addo Dankwa Akufo-Addo has commissioned the newly-constructed 22-storey imposing head office of the Bank of Ghana (BoG), highlighting the growing confidence in the country’s economy.
Dubbed: “The Bank Square”, the facility meant to replace the 67-year-old head office of the central bank, is the largest office development in the country, covering some 150, 000 meter square at the heart of Ghana’s capital, Accra.
The solar-powered edifice is designed to streamline the central bank’s operations as it seeks to improve its monetary and financial policies for sustained economic growth.
Incorporating seven key structures, the state-of-the-art facility comes with roof-top terraces, conventional office spaces, auditorium, conference, computer lab and lecture rooms, medical centre, parking terminals, and prayer room.
It has the capacity to accommodate some 2,500 staff.
President Nana Akufo-Addo lauded the BoG for its prudent stewardship in helping the nation to navigate the global economic uncertainties.
Quoting data from the central bank, he said indicators of economic activities, such as construction, industry, agriculture, consumer demand, and tourism, showed encouraging signs of continued improvement.
“Ghana’s economy is on a recovery trajectory, with provisional Gross Domestic Product (GDP) growth of 6.9 per cent recorded in the second quarter of 2024, driven by robust performances across all sectors.
“On the external front, the country’s trade surplus now stands at an impressive US$2.78 billion, with gold and crude oil exports leading the way,” he said, adding that international reserves at US$7.5 billion provided critical buffers against external shocks.
Inflation, which stood at a staggering 54.1 per cent in 2022, has been reduced sharply to 22.1 per cent as of October 2024, the President noted.
He lauded the central bank for providing the necessary framework for the pursuit of macro-economic stability, enabling “the realisation of our collective aspirations for socio-economic progress”.
The BoG, he said, had been an enduring symbol of the nation’s economic independence and resilience.
“Over the decades, the Bank has played a pivotal role in the evolution of our economy, serving as the bedrock of monetary stability and financial regulation.”
The President indicated that the commissioning of the Bank Square was a testimony of the central bank’s vision, maturity and enduring relevance.
“This architectural masterpiece, not only stands as a symbol of financial strength and stability, but also reflects Ghana’s commitment to modernising her institutions to meet the demands of a fast changing world,” he stated.
Dr Mohammed Amin Adam, Minister of Finance, affirmed Ghana’s commitment to overcoming her economic challenges through prudent policies.
Dr Ernest Addison, the BoG Governor, said the original headquarters which had served the Bank, since 1957, had become inadequate to support the evolving scape and complexity of the Bank’s operations.
Therefore, there was the need for the construction of the new edifice to bring the central bank’s administrative operations to standard for development and growth.
GNA