President Nana Addo Dankwa Akufo-Addo has called on Ghanaians to join forces with the government to build a stable, inclusive, and prosperous economy. Speaking at the commissioning of the Bank of Ghana's new headquarters, "The Bank Square," on November 20, 2024, the president described the edifice as a symbol of Ghana’s financial resilience and forward-thinking aspirations.
Situated in the heart of Accra, the newly unveiled Bank Square is a state-of-the-art facility designed with eco-friendly technologies and cutting-edge innovations. President Akufo-Addo praised it as a representation of Ghana’s progress and a foundation for its economic transformation.
“This architectural masterpiece is more than just a building; it represents Ghana’s financial strength and resilience in the face of challenges. It stands as a testament to our commitment to sustainable development and a dynamic global economy,” he said.
Economic Gains and Stability
Highlighting recent economic achievements, the president shared data from the Bank of Ghana that points to a firm economic recovery. Ghana recorded provisional GDP growth of 6.9% in the second quarter of 2024, with non-oil growth reaching an impressive 7.0%. This performance reflects strong contributions from agriculture, industry, and services sectors.
President Akufo-Addo also noted a significant decline in inflation from a peak of 54.1% in 2022 to 22.1% as of October 2024. This reduction, he said, has provided much-needed relief to households and businesses. Additionally, a trade surplus of $2.78 billion and international reserves of $7.5 billion further solidify Ghana’s economic stability and ability to withstand external shocks.
“These milestones are evidence of the Bank of Ghana’s commitment to sound monetary policies under the capable leadership of Governor Ernest Addison. I commend their dedication, as well as the innovative contributions of GoldKey Properties and other stakeholders who made this vision a reality,” he added.
A Vision for Inclusive Growth
The president emphasized the broader significance of The Bank Square, describing it as a beacon of Ghana’s determination to modernize its institutions. He urged citizens to maintain a united front in pursuing inclusive growth and creating a brighter future for all.
“The Bank Square is not just a symbol of what we have accomplished; it is an inspiration for the journey ahead. Let us remain steadfast in our efforts to make Ghana great and strong,” he stated.
Leadership in African Finance
Governor Ernest Addison also highlighted the significance of the new headquarters in shaping Ghana’s identity as a leading force in Africa’s financial ecosystem. He described The Bank Square as a vital part of Ghana’s efforts to modernize its financial institutions to meet the demands of an ever-evolving global economy.
President Akufo-Addo concluded by reiterating his administration’s commitment to fostering a resilient economy, adding that the achievements celebrated at The Bank Square commissioning serve as a foundation for greater progress.
This event marks a milestone in Ghana’s development trajectory, blending infrastructure, governance, and economic growth to position the nation as a key player in regional and global financial systems.
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