The Bank of Ghana has been presented with the prestigious Central Bank of the Year Award by the Central Banking Awards Committee.

The award follows the bank’s successful implementation of monetary policy and impressive achievement in reforming the banking sector in Ghana.

The usual awards dinner, which was slated for March 2020, in Brussels, Belgium, to highlight the outstanding performance and achievements of awardees, was called off due to the emergence and worldwide effect of the coronavirus (Covid-19) pandemic.

The closure of the country borders and airports, coupled with travel restrictions, made it impossible for the organisers of the awards to celebrate the award winners.

At a virtual ceremony to receive the award, the Governor of the Bank of Ghana, Dr Ernest Addison, said: “It is a great privilege for the Bank of Ghana to be named the Central Bank of the Year, and I thank the team at Central Banking for the honour done us”.

“This award reflects our vision to build a central bank of excellence that is well-respected by stakeholders, and further strengthens our resolve to continue to implement sound monetary and financial sector policies”, he said.

“The successful execution of our Monetary Policy and the Financial sector reforms and subsequent turnaround in the economy, which this award duly recognises, has been due to the hard work of the whole Bank of Ghana team comprising Management, the Board and staff.

“Let me mention the support I got from my very able and efficient deputies, and heads of departments. The Bank also received invaluable support from the Monetary Policy Committee, and other key collaborative institutions, including the Ministry of Finance and the Economic Management Team, in the pursuit of its policies and programmes”.

“With humility and profound gratitude, I accept this award on behalf of the Board, Management, and Staff of the Bank of Ghana. Thank you all for sharing in the vision to ensuring macroeconomic stability and establish a stable, sound, and resilient banking sector to support the country’s growth and development agenda. I am hopeful that we will continue on this path and consolidate the far-reaching gains of macroeconomic and financial stability in Ghana”, Governor Ernest Addison said at a virtual ceremony in Accra.

The Central Banking Awards were set up to highlight the outstanding performance and achievements of individuals and organisations within the central banking community. 

he awards recognise excellence in a community facing difficult monetary policy and financial stability challenges that needed to be addressed effectively, while prudently embracing technological change in reserves, financial services, payments, currency management and data.