Bank of Ghana Governor Dr. Ernest Addison to Begin Terminal Leave Ahead of Retirement

Dr. Ernest Addison, the Governor of the Bank of Ghana (BoG), is set to begin his terminal leave on 3rd February 2025 as he prepares for retirement.

This marks the next step in his transition after serving two successful terms at the helm of the central bank.

Dr. Addison’s leadership journey began on 3rd April 2017, when he was appointed Governor, and he was reappointed for a second term in March 2021.

His tenure, which has spanned over seven years, will officially conclude on 28th March 2025, in line with the Bank of Ghana Act, 2002 (Act 612), as amended.

The decision to commence his accumulated leave ahead of his retirement has received approval from President John Mahama.

This move, according to the Bank of Ghana, is designed to ensure a smooth transition as the country prepares for new leadership at the central bank.

Throughout his time as Governor, Dr. Addison has been instrumental in shaping the nation’s monetary policies, ensuring financial stability, and maintaining the integrity of the country’s banking system.

His leadership was critical during challenging times, and his contributions have left an indelible mark on Ghana’s economy.

The Bank of Ghana expressed heartfelt appreciation for Dr. Addison’s dedication and service to both the institution and the nation.

In a statement, the bank highlighted his pivotal role in strengthening the country’s financial systems, which helped pave the way for sustained growth.

As Dr. Addison begins his leave, the focus now shifts to the future leadership of the Bank of Ghana.

The central bank and its stakeholders are keenly anticipating the appointment of his successor, a decision that will carry great weight as the country navigates economic challenges and opportunities in the coming years.

The transition period also signals a moment of reflection on Dr. Addison’s legacy.

Under his guidance, the Bank of Ghana saw significant reforms, including initiatives aimed at improving financial inclusion, promoting stability in the foreign exchange market, and addressing inflation concerns.

Dr. Addison’s career has been marked by a strong sense of duty and professionalism, and his departure from the BoG will undoubtedly be felt by many across the country.