President Mahama Appoints New Board to Lead Bank of Ghana’s Financial Strategy

In a move aimed at reinforcing Ghana’s financial governance, President John Dramani Mahama has appointed a new governing board for the Bank of Ghana (BoG).

The appointments were made in consultation with the Council of State, following the provisions of Article 70(1)(d)(iii) of the 1992 Constitution and Section 8 of the Bank of Ghana Act, 2002 (Act 612), as amended by the Bank of Ghana (Amendment) Act, 2016 (Act 918).

The newly appointed board will be responsible for steering the central bank’s policies to ensure economic stability and effective financial governance in Ghana.

Members of the Bank of Ghana Board:

• Dr. Johnson Pandit Kwesi Asiama – Governor (Chairman)
• Dr. Zakari Mumuni – 1st Deputy Governor
• Thomas Nyarko Ampem – Representative from the Ministry of Finance
• Mr. Augustine Fritz Gockel – Economist
• Nana Akua Ayivora – Accountant/Audit/Risk/Compliance
• Emma Akua Bulley – Lawyer
• Evelyn Naa Checher Kwatia – Finance Markets/Treasury
• Dr. Stephen Senyo Sapati – Finance/Audit
• Beatrice Feehi Annangfio – Lawyer
• Kizzita Mensah – Lawyer
• Joseph W. Asamoah – FinTech
• Isaac Adongo – Economist

Mandate of the Board

The Bank of Ghana Board is the central governing body of the bank, consisting of the Governor (Chairman), two Deputy Governors, and ten Non-Executive Directors. Their primary responsibilities include:

• Formulating policies to maintain price stability and ensure a sound financial environment.
• Overseeing monetary policies to ensure a stable macroeconomic framework.
• Regulating the financial sector and ensuring adherence to global banking standards.

The Governor and Deputy Governors serve four-year terms, while Non-Executive Directors hold office for three years, with the possibility of reappointment.

With this new board in place, the Bank of Ghana is expected to drive policies aimed at strengthening Ghana’s financial sector and stabilizing the country’s economic and monetary system.