A feature by Senyo Kwasi Hosi
Accra, March 26, GNA – Osagyefo Dr Kwame Nkrumah’s assertion that “the Black man is capable of managing his own affairs” continues to challenge Ghanaians to assess their progress.
Despite strides in various industries, key sectors such as mining, telecommunications, and aviation remain largely dominated by foreign entities. However, local enterprises in real estate, fintech, petroleum, and banking are proving that Ghanaians can compete at the highest levels.
Ghanaian firms like Fidelity Bank, CalBank, and Kasapreko are examples of local excellence. Similarly, companies such as Maripoma, First Sky Construction, and Oswal Ltd are demonstrating the capacity of indigenous firms to construct world-class infrastructure. The latest symbol of this capability is the Bank Square, the new Bank of Ghana headquarters, built by a Ghanaian company, GoldKey.
GoldKey, which has previously transformed Accra’s skyline with Cantonments City, was entrusted with constructing Ghana’s tallest and largest building. This achievement should be a source of national pride, affirming the ability of local businesses to undertake monumental projects.
Recent discussions on the cost of the Bank of Ghana headquarters have sparked controversy. While transparency in public spending is essential, the scrutiny should be fair and based on facts. Comparisons indicate that the cost per square metre of the Bank of Ghana building ($2,068) is lower than that of similar projects, such as the Ecobank Headquarters ($2,163), Standard Chartered Bank’s building (above $2,244), and GNPC’s operational head office ($2,904). Given the security-intensive nature of the Bank of Ghana structure, the costs are within industry standards.
Yet, concerns persist over why a Ghanaian-led project faces intense criticism, while foreign-built headquarters with higher costs receive little scrutiny, despite Ghanaian pension funds having stakes in them. This perceived double standard raises questions about national attitudes toward local enterprise.
Rather than undermining indigenous businesses, Ghanaians must celebrate and support firms that demonstrate excellence. The success of GoldKey is a national success, proving that Ghana does not need foreign entities to achieve great feats.
The Bank Square, therefore, stands not as an act of financial impropriety, but as a testament to Ghanaian capability and excellence.
GNA
BAS