During a significant visit to the newly established Bank of Ghana headquarters in Accra, Otumfuo Osei Tutu II, the Asantehene, emphasized the necessity of lowering interest rates to foster business expansion and encourage private-sector investments. This visit marked a notable occasion as it was his first at the new facility.
The Asantehene acknowledged the recent improvements in the foreign exchange market but cautioned that the economy would struggle to regain its full strength if high borrowing costs persisted. He highlighted the importance of creating a conducive environment for industries and job creation through manageable lending rates.
Otumfuo articulated that a stable currency, alongside sound monetary policies—particularly in interest rate management—was essential for achieving sustainable economic progress. He urged for political backing for the Bank of Ghana, allowing it to perform its duties with independence and professionalism.
He described the New Bank Square as a landmark reflecting national confidence and a renewal of institutional integrity. According to him, this new headquarters should motivate the central bank’s staff towards enhanced professionalism and operational efficiency.
Furthermore, Otumfuo Osei Tutu II pointed out that the modern structure signifies the resilience of the Bank of Ghana and its preparedness to tackle the intricate monetary and financial challenges ahead. He stated, “This building is not merely an architectural feat; it embodies the authority, responsibility, and enduring mission of the Bank of Ghana.”
He expressed optimism that the contemporary infrastructure would bolster policy coordination, research capabilities, and decision-making processes, ultimately supporting macroeconomic stability.
