According to President Akufo-Addo, the new Bank of Ghana (BoG) headquarters, dubbed “The Bank Square,” would highlight the nation’s efforts to attain economic stability through monetary policy.
The Amenity Pavilion, Urban Block, The Podium, and the Tower are the four parts of the 22-story structure known as Bank Square at Ridge in Accra.
President Akufo-Addo stated during the commissioning that the building demonstrates advancements in the nation’s economic metrics.
“And as we stand here today, we are not only celebrating a physical structure of this imposing complex, we are also acknowledging the progress of our economy, which this edifice symbolize”.
He buttress 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 driven by robust performances across all sectors. Non-Oil GDP growth of 7%, a test to the dynamism of our economy”, he added.
The dramatic decline in inflation from 54.1 percent in December 2022 to 22.1 percent in October 2024, as noted by President Akufo-Addo, demonstrates the effectiveness of 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.
Dr. Ernest Addison, the governor of the Bank of Ghana, stated that the new Bank Square will be essential to simplifying the central bank’s operations and fostering employee sustainability, efficiency, and well-being.
He said that one of the most significant contemporary civic landmarks in Accra and the nation is The Bank Square, which was planned with the future in mind.
He promised that the structure would be crucial in establishing Ghana as a major player in the continent’s financial system and signifying the nation’s increasing stature as a global economic superpower.
“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.
Source: myjoyonline.com