By: Henrietta Afful
The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has provided a detailed update on the financial progress of the Bank’s headquarters project at Ridge in Accra.
Addressing Parliament on Wednesday, March 5, 2025, Dr. Asiama disclosed that by February 2025, approximately $230 million had already been disbursed towards the construction of the new headquarters.
Dr. Asiama stated that while $230 million had already been paid, there remains an outstanding balance of $31.8 million required to fully complete the project.
“… Mr Speaker, an outstanding balance of $31.8 million still needs to be paid to the contractor to complete the project,” the Governor explained.
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Dr. Asiama said expenses extend beyond the core building, with separate contracts awarded for key infrastructural components necessary for the headquarters. He said the Information and Communication Technology (ICT) systems and network infrastructure were contracted at a cost of $8.6 million.
He indicated that integrated electronic systems were awarded at a cost of $15.8 million, while furniture and furnishings were contracted for $11.1 million.
Dr Asiamah added that the BoG has spent $48.3 million on taxes and levies related to the construction of its new headquarters.
The total expenditure on the building now stands at $261.8 million.
Dr. Asiama assured Parliament that despite public concerns over the cost, the central bank’s new Board would ensure prudent financial management as the project nears completion.
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