Between 50 and 60 BoG staff retire every year – Dr Asiama

The Bank of Ghana (BoG) has disclosed that between 50 and 60 of its employees retire every year, making regular recruitment necessary to replace them. Governor of the Bank of Ghana, Dr Johnson Asiama, said the annual retirements are one of the reasons the central bank continues to recruit new staff. He explained that the bank also needs to bring in people with new skills to keep up with changes in technology and the financial sector. Dr Asiama made the disclosure at the 132nd Monetary Policy Committee (MPC) press conference in Accra on Thursday, September 24, 2026. 9 Fuel Price Hikes in 7 Months: See how much Ghanaians are now paying He said the BoG has expanded its work in areas such as virtual assets, data analytics, artificial intelligence and cybersecurity, creating the need for additional staff with the required skills. “When we came last year, remember that there was a whole lot we were not doing; we were not monitoring the virtual asset space; we were not doing it by way of data analytics, artificial intelligence, in terms of cyber monitoring and a lot more had to be done, and so we needed more hands,” he said. According to the Governor, the bank expects recruitment to slow down from next year as it moves towards hiring mainly to replace workers who leave through retirement. “Last year we did a bit of recruitment; this year, from next year it will go down deeply and over time we match it to the number of retirements on a yearly basis,” he said. Dr Asiama also said the BoG has to offer competitive conditions to retain skilled workers, particularly those in specialised areas. He said the bank spends money training some employees and therefore needs to ensure they remain at the institution. Dr Asiama also defended the bank’s staff costs, saying the figure should be considered in relation to its total operating costs. Fuel prices set to remain unchanged at pumps for two weeks He said the BoG aims to keep staff costs below 40% of its operating costs. He added that the major financial pressure on the central bank comes from the cost of Open Market Operations (OMO), which he described as the “cost of stability.” DR/MA Foundries, Machines and Jet Engines: Ghana’s untapped engineering potential Source: www.ghanaweb.com
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