BoG’s New Headquarters Cost Rises to $261.8 Million – Dr. Asiamah
Story By: Nartey Tetteh Solomon
The Governor of the Bank of Ghana Dr. Johnson Asiamah has confirmed that the cost of the central bank’s new headquarters has risen to $261.8 million, with $230 million already paid as of February this year. He noted that the outstanding balance of $31.8 million remains to be settled with the contractor.
The Bank of Ghana’s new headquarters project has sparked controversy due to rising costs and concerns over fiscal priorities. Critics argue that the expenditure is excessive, particularly amid Ghana’s economic challenges, including high inflation and mounting debt.
Addressing Parliament, the Dr. Asiamah revealed that $48.3 million has also been paid in taxes and levies related to the project.
“A total of $48.3 million has been paid in taxes and levies related to the construction,” he stated.
He further disclosed that, in addition to the main building, separate contracts were awarded for essential infrastructure, including $8.6 million for ICT systems and network infrastructure, $15.8 million for an integrated electronic security system and $11.1 million for furniture and furnishings
Dr. Asiamah reiterated that these additions were crucial for creating a secure and technologically advanced environment in line with the needs of a modern central bank.
“These elements were included to ensure that the Bank operates in a secure and technologically advanced environment in line with the needs of a modern central bank,” he said. Despite mounting public scrutiny, the Bank of Ghana insists that the new headquarters is essential for improving operational efficiency and security.
