Richard Anamoo, the National Democratic Congress (NDC) Campaign Team’s Spokesperson on Infrastructure, has criticised the construction of the Bank Square edifice, calling it an expensive project.
On Wednesday, November 20, President Nana Addo Dankwa Akufo-Addo inaugurated the new headquarters of the Bank of Ghana, known as Bank Square, located at Ridge in Accra.
In an interview on Channel One TV’s Citiuation Room, Anamoo argued that the project has already placed a financial burden on taxpayers and will continue to do so.
He stated that, despite its size, the facility will not generate income for the state, as large portions of it cannot be rented out to organisations outside of the Bank of Ghana.
Anamoo emphasised that future infrastructural projects should provide diverse benefits to the public.
“Don’t forget that when you create these facilities, they create job opportunities for people to come in. So you don’t go about constructing structures that do not generate revenue, that do not create job opportunities for the people. You don’t construct facilities that are a drain on the economy of the country.
“The president commissioned the Bank of Ghana Edifice, ask yourself, what is that? Why should we get up and spend so much money on such an infrastructure? One, all the people that will be working there will be paid by the taxpayer.
“No floor of that building can be rented out to public people. That building itself does not generate revenue. How many people are going to pass through that place because it’s a high-security zone?”, he questioned.
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 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.
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