The new BoG building is valued at $261.8 million
The Governor of the Bank of Ghana, Dr. Johnson Asiama, has revealed that the initial cost of the new headquarters was valued at $88 million in 2011.
According to him, this figure increased to $121.1 million and later rose to $261.8 million by the time the project was completed.
He also explained that the building is 98% complete and will require an additional $11 million for furnishing.
Dr. Asiama made these remarks when he appeared before Parliament on March 5, 2025, to brief the House on the status of the building.
“The yet-to-be-constituted BoG Board will review the $250 million cost of the new headquarters through a value-for-money audit. Discussions surrounding the construction also began back in 2011,” he added.
The governor further stated that out of the total cost, $230 million has already been paid to the contractor.
His appearance follows an invitation from the House seeking answers regarding the project’s total expenditure.
Dubbed “The Bank Square,” the building was commissioned on November 20, 2024, by President Akufo-Addo at a reported cost of approximately $250 million.
Construction began in 2019, with the initial contract awarded to Goldkey Properties Limited in 2020 for $81.8 million. Funding was reportedly sourced from internally generated funds and government support.
However, the project’s cost escalated significantly over time, increasing to $121 million before ultimately reaching approximately $250 million upon completion.
The 20-storey building, located in Accra’s Central Business District, spans 21,551 square meters and features a banking hall, a currency processing center, and extensive parking facilities.
SSD/MA
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