The Bank of Ghana (BoG) will officially open its new US$250 million headquarters, “The Bank Square,” in Accra on November 20, 2024.
The construction of the new headquarters sparked debates last year, especially after the Central Bank reported losses amounting to GH¢60 billion in 2022.
Reports revealed that the bank invested around US$250 million in the project.
Many National Democratic Congress legislators and some Ghanaians questioned the necessity of the project, particularly given the bank’s financial losses.
However, the Central Bank explained that the current building could not withstand natural disasters like earthquakes.
The bank also emphasized that halting the project was not feasible due to the costs already incurred.
In response, Stephen Opata, Special Advisor to the BoG Governor, stated, “The project was already far along. Halting it at that stage would not have been the most prudent choice.”
President Nana Addo Dankwa Akufo-Addo will attend the ceremony as the special guest of honor, which will begin at 10 am. The event will be by invitation only.