Vice President Professor Jane Naana Opoku-Agyemang has emphasized the critical need for dynamic and innovative leadership at the Bank of Ghana (BoG) as the institution navigates current economic challenges and seeks to restore public trust.
Speaking at the swearing-in ceremony of the newly appointed governing board of the central bank on March 13, 2025, she highlighted that the success of the government is closely tied to the performance of the BoG.
In her address, the Vice President stressed that the government’s social contract with the people of Ghana—focused on resetting, rebuilding, and restoring macroeconomic stability—rests heavily on the shoulders of the BoG’s board, alongside other key players like the Minister for Finance and Cabinet members. She urged the board to bring their collective expertise to bear in aligning the bank’s policies with both contemporary best practices and the government’s overarching economic agenda.
“I am confident that your unique backgrounds in both the public and private sectors equip you with the right skills and perspectives to offer the strong leadership the Bank of Ghana needs during this critical time,” said Professor Opoku-Agyemang. She underscored the importance of good governance and urged the new board to assess existing policies to ensure they are in line with the nation’s goals for economic recovery and growth.
The Vice President also made a point of highlighting the government’s commitment to gender equality, noting that more than 40% of the board’s composition consists of women. This diverse representation, she said, aligns the Bank of Ghana with global standards for board diversity and inclusion.
“With five women on the board, your leadership reflects an inclusive, forward-thinking approach that mirrors best practices seen worldwide,” she added. “I wish you all the best in your roles, and may your tenure be successful and impactful.”
The newly appointed board is chaired by Dr. Johnson Asiama, with notable members including Bolgatanga Central Lawmaker Isaac Adongo. The appointment, made in consultation with the Council of State, aims to steer the BoG through the ongoing financial challenges while ensuring the stability and resilience of the banking sector.
Governor Dr. Johnson Asiama, who has already outlined his vision for the bank, noted that the BoG would focus on realigning its regulatory framework to promote stronger financial intermediation. He pointed out the need for reforms to address legacy issues such as high non-performing loans and weak risk management practices in the industry. Dr. Asiama also emphasized the importance of enforcing strict prudential regulations, updating key financial laws, and ensuring that Ghana’s banking system remains robust and future-proof.
“Our focus will be on fostering a modern, fair financial system where all Ghanaians, from traders to entrepreneurs, can benefit,” Dr. Asiama said, outlining plans to strengthen the banking sector’s foundation for sustained economic growth.
The new leadership is poised to tackle pressing issues and support the government’s long-term economic recovery goals, with a clear focus on restoring public confidence and ensuring the resilience of Ghana’s financial system.
Source:Mybrytfmonline.com/Gumedzo Isaac Acheampong
