The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, expressed optimism about the future of the central bank following the inauguration of its cutting-edge headquarters, Bank Square, on Wednesday, November 20, 2024, in Accra.
Dr. Addison emphasized that the state-of-the-art facility would play a crucial role in improving the BoG’s operational efficiency, as well as supporting its expanded mandate within Ghana’s growing financial sector.
He pointed out that the BoG’s responsibilities now extend beyond traditional banking supervision to include the regulation of mobile money operators and financial technology firms.
According to Dr. Addison, these evolving functions demand a modern and flexible operational infrastructure to manage the increasing complexity of the nation’s financial services landscape.
“The number of branches of regulated institutions, personnel and systems that must be supervised has expanded significantly and we cannot ignore the monumental evolution of banking services, the corresponding number of consumers of those services and technological advancements that have changed the financial ecosystem in Ghana. Bringing on board licensing and supervision of mobile money operators and financial technology firms.
“As you may be aware, the Bank of Ghana has multiple offices in the city of Accra and with a strategic plan to harmonies 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,” he stated.
