KEY POINTS
- Ghana’s economy grew by 6.9% in Q2, driven by key sectors.
- Inflation dropped sharply from 54.1% in 2022 to 22.1% in 2024.
- BoG’s new solar-powered headquarters marks financial innovation and sustainability.
President Nana Addo Dankwa Akufo-Addo has reaffirmed that Ghana’s economy is on a recovery path, supported by strong performances in construction, industry, agriculture, tourism, and consumer demand. Speaking in Accra, he revealed that Ghana’s GDP grew by 6.9% in the second quarter of 2024, with non-oil GDP growth hitting 7%.
Highlighting an important decline in inflation, President Akufo-Addo noted that rates had dropped from 54.1% in 2022 to 22.1% in October 2024. On the external front, Ghana recorded a trade surplus of $2.78 billion, with international reserves standing at $7.5 billion. These achievements, he said, were due to prudent monetary and financial policies implemented by the Bank of Ghana (BoG).
Bank of Ghana’s new headquarters: a symbol of financial progress
The President made these remarks during the inauguration of BoG’s new headquarters, christened “The Bank Square.” Designed by Ghanaian-British architect Sir David Adjaye and constructed by Goldkey Properties Limited, the state-of-the-art complex spans 150,000 square meters and includes solar-powered energy systems.
Key features of the building include the Amenity Pavilion, housing conference centers and a rooftop terrace, the Urban Block for corporate offices, and the Tower, which includes office spaces, meeting rooms, and a banking hall. The headquarters serves as a hub for financial innovation and collaboration, reflecting Ghana’s commitment to modernity and sustainability.
BoG’s legacy of stability and Ghana’s vision for the future
Since its establishment in 1957, the Bank of Ghana has been instrumental in maintaining monetary stability and financial regulation. The new headquarters underscores BoG’s evolution to meet the growing complexity of Ghana’s economy.
President Akufo-Addo described the facility as a declaration of Ghana’s resilience and aspirations. Governor Dr. Ernest Addison called it a landmark in Africa’s financial ecosystem, symbolizing Ghana’s emerging status as a regional economic powerhouse.
Finance Minister Dr. Mohammed Amin Adam noted that the building represents Ghana’s commitment to economic stability and progress, providing a conducive environment for the bank to execute its mandate efficiently. The event concluded with a call for unity in pursuing sustained growth and economic innovation.
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