Bank of Ghana defends ongoing $82M headquarters construction amid $1.58B loss, while seeking government bailout.
Bank of Ghana (BoG) is defending its $82M construction of new headquarters despite a $1.58B loss in 2023, stating the project is too advanced to halt and the bank's losses are due to multiple factors. Critics question the project's feasibility given the bank's financial difficulties, but BoG's Special Advisor argues that stopping the project would be inefficient and costly due to ongoing contractor work. BoG is seeking a government bailout to recapitalize and support its policy objectives.
July 26, 2024
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