New BoG head office “The Bank Square” is a symbol of economic progress – Akufo-Addo
President Akufo-Addo has stated that the new Bank of Ghana (BoG) head office known as the “The Bank Square” will further emphasise the country’s quest to achieve economic stability through its monetary policies.
The 22-storey building Bank Square at Ridge in Accra comprises four components namely the Amenity Pavilion, Urban Block, The Podium and the Tower.
Speaking at the commissioning, President Akufo-Addo said the edifice shows progress in the country’s economic indicators.
“And as we stand here today, we are not only celebrating the physical structure of this imposing complex, we are also acknowledging the progress of our economy, which this edifice symbolizes”.
He buttresses his argument that data released by the BoG shows economic recovery, a sign of growth.
“Recent data from the Bank of Ghana paints a picture of resilience and promise. Ghana’s economy is on a recovery trajectory”, he said.
“The provisional GDP growth of 6.9% recorded in the second quarter of 2024 was driven by robust performances across all sectors. Non-Oil GDP growth of 7%, a test to the dynamism of our economy”, he added.
President Akufo-Addo pointed out that the sharp drop in inflation from 54.1 per cent in December 2022 to 22.1 per cent in October 2024 shows the efficacy of the Monetary Policy tools.
“There is every indication that the downward trend of inflation will continue. Evidence in the reducing prices of foodstuff and petroleum prices. There is a sense of optimism for the future”, he said.
On his part, the Governor of the BoG, Dr Ernest Addison said the new Bank Square will play a pivotal role in streamlining the operations of the central bank and promote employee wellness, efficiency and sustainability.
He stated that The Bank Square was designed with the future in mind and stands as one of the most important modern civic landmarks in the city of Accra and the country.
He assured that the building will play a pivotal role in shaping Ghana’s identity as a leading force in Africa’s financial ecosystem, symbolizing the country’s growing influence as an economic powerhouse on the world stage.
“By commissioning this product of the imagination of an internationally celebrated architect, Sir David Adjaye, a proud son of Ghana, we are boldly affirming our commitment to investing in the nation’s future. His architectural firm, Adjaye Associates, has created this enduring masterpiece—one designed to withstand the test of time and serve as a beacon of Ghana’s revitalization for generations to come”, he said.