President Nana Addo Dankwa Akufo-Addo has inaugurated the new headquarters of the Bank of Ghana, known as Bank Square, in a ceremony held on Wednesday, November 20.
The state-of-the-art facility, located at Ridge, Accra, represents a significant milestone in the nation’s financial sector.
The new headquarters, which cost approximately $250 million, has been a topic of debate since its announcement, especially given the Central Bank’s reported losses in recent years.
However, the Bank of Ghana has defended the project, citing the need for a modern facility that can withstand natural disasters and accommodate the growing demands of the financial sector.
During the inauguration, President Akufo-Addo highlighted the importance of the new headquarters in enhancing the operational efficiency of the Bank of Ghana.
He emphasised that the facility is a testament to the government’s commitment to strengthening the country’s financial infrastructure and ensuring economic stability.
“The commissioning of the bank square today is a testament to the bank’s vision, maturity and enduring relevance. This architectural masterpiece not only stands as the symbol of financial strength and stability but also reflects Ghana’s commitment to modernising her institutions to meet the demands of fast changing world,” he further stated.
The event was attended by key stakeholders in the financial industry, government officials, and members of the diplomatic corps.
The Governor of the Bank of Ghana, Dr. Ernest Addison, expressed his gratitude to the government for its support and reiterated the Central Bank’s commitment to maintaining financial stability and promoting economic growth.
He further indicated that “As you may be aware, the Bank of Ghana has multiple offices in the city of Accra and with a strategic plan to harmonise all these operational units at the headquarters under one roof.
“This new head office provides us with the opportunity to better streamline our operations, improve communication, reduce cost and create the needed synergies for efficiency.
“The Bank Square was designed with the future in mind and stands as one of the most important modern civic landmarks in the city of Accra and for that matter, our nation. This building will play a pivotal role in shaping Ghana’s identity as a leading force in Africa’s financial ecosystem.”
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