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Business News of Monday, 23 August 2021


You've been stars since I took office – Akufo-Addo to BoG managers

President  Nana Addo Dankwa Akufo-Addo President Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has praised the work of the Bank of Ghana under the leadership of Governor Dr Ernest Addison from 2017.

Speaking at the swearing-in ceremony of the central bank’s new board of directors at the Jubilee House on Friday, 20 August 2021, President Akufo-Addo said he elected to swear in the board himself so he could have the chance to pat the management on their back for their work so far.

“You may have noticed that in the past few weeks, a number of boards have been reconstituted and inaugurated”.

“Invariably, members of these boards have been sworn into office by their respective sector ministers”.

“However, I decided to swear into office, the board of the central bank myself”, he noted.

He explained: “I did so in order to have an appropriate platform to express my sincere appreciation to the board and management of the bank for the stellar work they have done for our nation since my assumption of office in January 2017”.

Indeed, the president added, “over the last four years, the Bank of Ghana has distinguished itself to the administration of all well-meaning persons and has discharged its duties accordingly”.

He went on: “It has proven to be a sound banker to the government and the safe custodian of the nation’s precious asset – money”.

Additionally, he said the central bank “has been an efficient currency manager, the reliable source and regulator of liquidity and above all, the dependable lender of last resort to the banking sector”.

He underscored BoG’s support in mitigating the economic impact of the COVID-19 pandemic.

“When the pandemic of COVID-19 hit our shores, the Bank, with the support of the commercial banks, instituted a GHS3 billion credit and stimulus package to help revitalise industry, especially the pharmaceutical, hospitality service and manufacturing sectors”.

“We have seen the effects of these interventions by the Bank, evidenced in the steady rebound and growth of the economy”, the president praised.