ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
These young leaders will be offered structured pathways to top global institutions, through scholarships, internships, and policy immersion opportunities.
But the objective is clear, they will return home.
To build.
To lead.
To ensure that the next chapter of Ghana’s economic transformation is written by Ghanaians who understand both global dynamics and national aspirations.
Charge to the Chair and the Academic Community Ladies and gentlemen, Permit me to turn now to Professor Alagidede and the broader academic community.
To you, Professor, I offer both congratulations and a charge.
You have been entrusted with a chair named after one of Africa’s great monetary pioneers.
May your tenure here push the frontiers of monetary research in Africa, with rigour, creativity, and relevance.
Use this platform to mentor a new generation of Ghanaian economists—women and men who will not only theorize, but act, who will not only publish, but shape policy.
Let this Chair become a beacon of bold, evidence -based policy thinking that serves both the classroom and the boardroom.
To the students here today, I extend a challenge.
Do not sit on the sidelines of national discourse.
Read the Monetary Policy Statement.
Debate the Fiscal Strategy Document.
Ask hard questions.
Develop the courage to contribute ideas.
Because economics, in its highest form, is a tool for transformation, not just theory, but a bridge between data and dignity, between policy and progress.
And Ghana needs you, your passion, your intellect, and your ambition to imagine and deliver a better economic future.
Let this Chair be your rallying point, your intellectual home, and your launchpad.
Closing and Formal Endorsement Distinguished Vice Chancellor, faculty, students, colleagues, and guests, Let me, on behalf of the Bank of Ghana, warmly congratulate the University of Ghana and the Department of Economics and the Department of Finance, on this historic milestone.
The formal establishment of the Bank of Ghana Chair in Finance and Economics is not just a ceremonial event, it is a strategic investment in Ghana’s intellectual sovereignty and policy future.
To Professor Alagidede, we say: you carry not only the responsibility of scholarship, but the burden of relevance.
We trust that you will steward this role with the intellectual boldness and institutional maturity it requires.
And now, by the powers vested in me by the Board and Management of the Bank of Ghana, I have the honour and privilege to declare the Bank of Ghana Chair in Finance and Economics officially inaugurated, and today’s inaugural lecture formally opened.
As you listen to the discourse that follows, I encourage each of you , students, faculty, practitioners to do so with open minds and sharp curiosity.
Engage, question, reflect.
Because it is only through honest, rigorous dialogue that we shape ideas worth implementing.
Let us celebrate not just an appointment, but the possibilities it unlocks for our research community, our policy landscape, and our collective national journey.
I Thank you for your attention.
GHANA SUSTAINABLE BANKING PRINCIPLES CONSTRUCTION SECTOR DEEP DIVE OPENING REMARKS BY MRS.
MATILDA ASANTE ASIEDU SECOND DEPUTY GOVERNOR, BANK OF GHANA 29 JULY 2025 ALISA HOTEL, ACCRA _____________________________________________________________ The Chief Executive Officer, Ghana Association of Banks The Chief Executive Officer, Environmental Protection Agency The Senior Country Officer, International Finance Corporation Distinguished Ladies and Gentlemen, 1) Good morning and a warm welcome to you all.
I bring heartfelt greetings from the Governor of the Bank of Ghana, Dr.
Johnson Pandit Asiama, and the First Deputy Governor, Dr.
Zakari Mumuni.
It is an honour to address you this morning as part of our broader journey to safeguard the banking sector from emerging Environmental, Social and Governance (ESG) financial risks through the implementation of the Ghana Sustainable Banking Principles.
Today our focus is on the construction industry.
2) Distinguished Ladies and Gentlemen.
Why is this sector so important in the context of sustainability?
Well, consider this: a bank financing a large real estate project may focus its credit appraisal on the traditional 7 Cs of credit risk .
But what happens if the environmental impact assessment is or the permit is delayed due to non -compliance?
What if rising temperatures and erratic rainfall patterns undermine the viability of materials, or site operations, pushing timelines and costs beyond projections?
Th ese are increasingly part of the risk landscape and can amplify loss given defaults for a bank, create reputational issues, or possibly lead to regulatory penalties.
Distinguished guests , the construction industry like other sectors is deeply linked with climate, resource efficiency and financial risk.
3) It is precisely these intersections between sustainability and traditional banking risks that the sector deep dives are designed to uncover.
Our goal is to ensure that banks do not simply react to these risks after they occur, but proactively incorporate sustainability considerations into project due diligence, client engagement and portfolio monitoring.
In so doing, we will not only safeguard financial soundness but also help to build a more resilient banking sector.
4) In boardrooms around the world, Environmental, Social and Governance issues are often relegated to quarterly updates, or a single slide in a board pack.
This approach misses the point.
ESG is not a PR exercise, or about feel-good reporting.
Rather it is the framework for measuring organizations’ long-term sustainability and resilience.
It is about how they manage their footprint, treat their community and people and how they govern themselves.
5) Ladies and Gentlemen.
The Bank of Ghana views sustainability not as a peripheral issue, but as a central pillar of financial stability, long -term value creation and responsible economic stewardship.
We are in an era where ESG factors are rapidly reshaping how banking sector risk s are understood and how the associated opportunities are pursued.
The banking sector must ensure that it remains at the forefront of this evolution.
Bank of Ghana’s Sustainability Journey 6) Distinguished guests at this juncture, allow me to give a brief overview of the Bank of Ghana’s sustainability journey .
As we invite you to journey with us, it is only appropriate that we offer you a glimpse of the roadmap.
7) Our journey began in 2015 with the establishment of the Sustainable Banking Committee.
This was our first step towards identifying ESG vulnerabilities within the banking sector.
In 2019, following extensive stakeholder consultation, the Ghana Sustainable Banking Principles were launched.
These principles, endorsed by bank CEOs—signalled a major shift in institutional mindsets and set the tone for integrating ESG into daily banking operations.
8) To support implementation, we rolled out a standardized ESG reporting template in 2021, allowing banks to report their progress via the Online Regulatory Analytics and Surveillance System—ORASS.
Since then, we have worked together to embed these principles in bank governance, strategy, risk management and operations.
Between 2021 to 2023, the Bank of Ghana facilitated the training of all 23 commercial banks on the 7 sustainable banking principles .
We have since been receiving biannual returns from the banks to assess the banks compliance.
I am pleased to announce that the average compliance rate of the GSBPs has been on an upward trajectory from 42.28 in March 2021 to 73.06 as at March 2025.
Let me commend all of you for your efforts in this regard and resultant enhancement in supervisory oversight and transparency.
9) In 2021, the Bank of Ghana joined the Network for Greening the Financial System (NGFS)—a global alliance of central banks advancing climate -related financial supervision.
Bank of Ghana’s membership reflects our growing commitment and gives us access to global knowledge and tools.
That same year, we began aligning with international standards, including the Basel Committee’s guidance on climate- related financial risks.
This work culminated in the issuance of our Climate-Related Financial Risk Directive in 20 24 for all Regulated Financial Institutions (RFIs) for effective management and supervision of this evolving risk.
10) This directive seeks to enhance the resilience of Regulated Financial Institutions (RFIs) by integrating climate risk considerations into governance, risk management, and disclosure practices.
Banks are required to update their governance structures, risk management systems, and internal policies to comply with the directive by 31st December 2025, with full implementation starting on 1st January 2026.
11) The Bank of Ghana has developed other partnerships with international and local bodies such as the Sustainable Banking and Finance Network (SBFN), the Alliance for Financial Inclusion (AFI), and the Ghana Meteorological Agency (GMET).
These collaborations enhance instituti onal learning and position the Bank of Ghana to shape global discourse on sustainable finance.
12) Additionally, the Bank of Ghana is working closely with other regulators through the Sustainable Finance Roadmap, a coordinated plan to guide Ghana’s transition to sustainable finance.
The recently launched Green Finance Taxonomy, jointly developed with the Ministry of Finance, provides a shared language for identifying sustainable investments.
13) And to anchor all these efforts, the Climate and Sustainability Office within the Bank of Ghana was established in 2023.
This dedicated office now drives our strategic vision, supports regulated financial institutions, and coordinates stakeholder engagement and capacity-building efforts.
14) Following this, we began the sector-specific engagements with the manufacturing and agriculture sector in April and October 2024, respectively.
Today, we continue this journey by turning our lens to the construction sector, a vital engine for Ghana’s infrastructure and national development.
15) The Bank of Ghana remains firmly committed to this agenda.
Together with our partners, we will continue to guide, supervise, and support the banking industry as it transitions toward more sustainable practices.
16) Ladies and gentlemen, at this juncture, I would like to acknowledge the invaluable partnership of our stakeholders who have supported us on this journey including the International Finance Corporation (IFC), Ghana Association of Banks (GAB) and Environmental Protection Agency (EPA).
I would also like to thank all participating institutions gathered here today, our respected colleagues from commercial and development banks, professional bodies including Institute of the Chartered Accountants Ghana (ICAG), the Chartered Institute of Bankers (CIB) and other key st akeholders.
Your presence reflects the depth of commitment required to integrate sustainability into the very fabric of Ghana’s financial ecosystem.
17) Distinguished participants, today’s conversation is a critical next step to deepen our understanding, share knowledge and develop practical tools tailored to the identification, assessment, and management of sustainability-related financial risks in banks’ portfolios with particular emphasis on the construction industry.
I encourage participants to have frank discussions, be innovative and above all, set out clear alignments between risk management and sustainable banking practices.
Thank you, and I wish you all a fruitful and impactful engagement.
125th MPC Meetings Opening Remarks by Dr.
Johnson Pandit Asiama Governor, Bank of Ghana Monday, 28 July 2025 Good morning, colleagues.
Let me extend a warm welcome to all of you to the 125th meeting of the Monetary Policy Committee of the Bank of Ghana.
I also acknowledge and welcome members of the media and distinguished guests who have joined us for this opening session.
We meet at a time when the global and domestic macroeconomic landscape continues to evolve, offering encouraging signs of recovery while exposing persistent vulnerabilities.
Globally, growth momentum is moderating.
The world economy is projected to expand at 2.8 percent in 2025, down from 3.3 percent in 2024, as higher interest rates, tighter financial conditions, and geopolitical tensions weigh on activity.
Although the recent ceasefire in the Middle East has helped stabilize oil prices, trade tensions and elevated global borrowing costs continue to present downside risks.
Global inflation is decelerating, but the disinflation path remains uneven and fragile.
On the domestic front, Ghana’s economic recovery and stability are gaining traction.
The disinflation process has strengthened, with headline inflation declining for six consecutive months to 13.7 percent in June 2025, the lowest rate since December 2021.
The decline reflects multiple reinforcing factors, including disciplined monetary and fiscal policy management and the appreciation of the cedi Economic activity has picked up significantly.
Provisional GDP data for the first quarter of 2025 indicate real growth of 5.3 percent, driven mainly by strong performance in agriculture and services.
Non -oil GDP grew even faster at 6.8 percent.
The Bank’s Composite Index of Economic Activity rose by 4.4 percent in May, supported by robust consumption, increased trade volumes, cement sales, and a rebound in tourism.
These improvements are mirrored in stronger business and consumer confidence, as reflected in recent PMI data.
External sector conditions have also improved markedly.
Ghana recorded a provisional trade surplus of US$5.6 billion in the first half of the year , more than four times higher than the same period in 2024.
The current account surplus widened to US$3.4 billion, and the cedi appreciated strongly against major currencies: 42.6 percent against the US dollar, 30.3 percent against the British pound, and 25.6 percent against the euro.
These gains have been underpinned by increased export receipts from gold and cocoa, r obust remittance inflows, and renewed investor confidence following successful programme reviews under the IMF Extended Credit Facility.
The banking sector remains stable, with improvements in liquidity, profitability, and solvency.
The capital adequacy ratio, excluding regulatory reliefs, rose to 18.2 percent in June 2025.
However, the NPL ratio remains elevated at 23.1 percent, warranting continued supervisory attention.
On the fiscal front, significant progress has been made.
The 2025 Mid -Year Budget Review highlights notable achievements: a primary surplus of 1.1 percent of GDP (well above the 0.4 percent target), a reduction in the overall fiscal deficit to 0.7 percent of GDP, and actual expenditures coming in 14.3 percent below target.
Furthermore, Ghana has recorded a rare 15.6 percent reduction in public debt stock in the first half of the year, bringing the debt -to-GDP ratio down to 43.8 percent.
These outcomes signa l a credible path to debt sustainability and macroeconomic stability.
Colleagues, as we commence our deliberations, the question before us is whether the current macroeconomic configuration warrants a recalibration of our monetary policy stance.
With inflation expectations more firmly anchored, external buffers significantly strengthened, and public confidence improving, we must consider how best to support the recovery without compromising the hard-won gains in stability.
And we must be aware of the risks such as a resumption of exchange rate volatility, crude oil price increase, and the potential impact of some taxes to be imposed within the context of the mid-year budget review and how this will affect pricing behaviour.
This can cause a shift in inflation expectations.
So, I encourage staff and MPC members to maintain a strong focus on these forward- looking risks, policy trade-offs, and the need to provide credible guidance to the market.
Our mandate is clear: to maintain price stability while enabling the conditions for inclusive and sustainable growth.
With that, I declare the 125th Meeting of the Monetary Policy Committee duly open.
STAKEHOLDER ENGAGEMENT WITH MEMBERS OF THE CLERGY ON NON- INTEREST BANKING AND FINANCE OPENING REMARKS BY DR.
JOHNSON P. ASIAMA GOVERNOR, BANK OF GHANA JULY 25, 2025 BANK SQUARE - ACCRA Distinguished Members of the Clergy, Colleagues, Ladies and Gentlemen.
It is a great pleasure to welcome you to the Bank Square.
Today’s gathering forms an integral part of our broader stakeholder engagement series as we work towards establishing the institutional, legal, and regulatory framework required for the operationalisation of Non-Interest Banking and Finance (NIBF) in Ghana.
The Bank considers stakeholder engagement with the Clergy as an important cornerstone for the effective rollout of NIBF governance that will reflect the interest and sensitivity of Ghanaians represented by the Clergy.
Feedback from this engagement will be valuable to achieve inclusiveness and collective ownership.
As a critical regulator, our paramount interest is the business case and inherent benefits of NIBF to the economy and particularly to achieve financial inclusion with product diversification and choice.
The Clergy has always been our partners in fostering financial education.
It is in this spirit that we have invited you as vital stakeholders in our shared responsibility in developing an additional financial inclusion and ethical economic governance tool through NIBF.
4.0 The Bank of Ghana through its research and engagement with Central banks in West Africa, Africa and the United Kingdom understand NIBF as part of the global financial system that operates without charging or paying interest (usury) such that transactions only result in profit and loss sharing in line with our partnership arrangements.
This model has gained considerable global traction, w ith a total balance sheet size exceeding US$5.5 trillion as of end-December 2024, with high impact on sovereign and corporate project finance with impactful microfinance sector.
5.0 Across Africa, countries such as Nigeria, Kenya, Uganda, Tanzania, and South Africa have taken proactive steps in developing NIBF as a means of fostering financial inclusion, particularly for unbanked populations.
Beyond the continent, countries as the United Kingdom, Malaysia, Netherlands, Japan, Singapore, Hong Kong and Luxembourg just to mention a few countries , have embraced NIBF, recognizing its potential to attract diversified investment and promote sustainable financial services.
Collectively, these developments reflect the growing global recognition of NIBF as a viable, inclusive, and ethical component of the financial system.
6.0 The conceptual foundation of NIBF is anchored in historic and universal values that transcend religious or cultural boundaries.
At its core, NIBF promotes ethical conduct, social justice, financial inclusion, and shared prosperity.
7.0 Unlike conventional banking systems, which largely rely on interest-based lending and debt instruments, NIBF is built upon principles of equity, fairness, transparency, and risk-sharing.
It prohibits the charging of interest, upholding the belief that money should serve as a medium of exchange rather than a commodity that generates profit in isolation.
8.0 NIBF encourages profit-and-loss sharing through partnership-based contracts such as joint ventures, thereby aligning the interests of financiers and entrepreneurs while discouraging moral hazards .
This approach enhances accountability and supports real economic activity.
9.0 Furthermore, NIBF mandates that all financial transactions be backed by tangible assets or services, reinforcing the link between finance and the real economy.
It prohibits speculative investments and restricts financing to ethical industries, while restricting sectors such as alcohol, gambling, adult entertainment, and weapons manufacturing.
This emphasis on ethical investment reflects a broader commitment to responsible business and the common good.
Above all, NIBF aspires to function not merely as a commercial enterprise, but as a transformative instrument for economic justice and inclusive prosperity .
Its core values, challenge financial institutions to go beyond profit maximization and to act as responsible stewards of social well-being.
Revered members of the Clergy, despite considerable public investment over the past two decades, Ghana’s infrastructure stock remains insufficient, particularly in critical sectors such as transportation, energy, water and sanitation, and digital connectivity.
For instance, while the road network continues to expand, it suffers from poor maintenance —especially in rural areas —impeding access to essential markets and services.
According to a report by the United Nations, Ghana will require an estimated US$37.9 billion annually to meet its infrastructure financing needs and to achieve the Sustainable Development Goals (SDGs).
In light of fiscal constraints, many developing economies are turning to innovative financing instruments such as Sukuk Bonds, a core component of NIBF.
Sukuk offer an alternative mechanism for mobilizing capital for general government financing, infrastructure development, working capital for corporates, and Tier I and II capital augmentation under the Basel III framework.
South Africa pioneered sovereign Sukuk issuance in Africa, successfully launching a debut US$500 million Sukuk in 2014 with a 5.5 -year tenor, which was oversubscribed more than fourfold.
Nearly a decade later, in 2023, South Africa returned to the market, raising US$1.1 billion through a four -tranche Sukuk issuance with varying tenors, volumes, and profit rates.
Closer to home, Nigeria has made remarkable progress.
Since 2017, its Sovereign Sukuk programme has mobilised approximately US$2.37 billion , facilitating the construction and rehabilitation of more than 4,100 kilometres of roads and nine major bridges.
This success underscores the growing investor confidence in Sukuk as a reliable, ethical, and development-focused financing tool.
Ladies and Gentlemen, in conclusion, as Ghana charts its path towards inclusive and sustainable economic transformation, the role of NIBF cannot be overstated.
With its foundation in ethical principles, tangible asset -backing, and social justice, NIBF provides a credible alternative for financing our development aspirations.
Today’s engagement is not merely symbolic —it is a call to action f or collaboration, awareness creation, demystifying misconceptions and commitment to give NIBF a chance to be nurtured within our banking and finance space.
We look forward to walking this journey together with you.
I wish you fruitful deliberations and may God bless you.
KEYNOTE ADDRESS BY DR.
JOHNSON P. ASIAMA GOVERNOR, BANK OF GHANA At the Graphic Business/Stanbic Bank Breakfast Meeting Theme: “Sustaining Forex Gains: Business and Economic Impact” Date: Tuesday, 15th July 2025 | Venue: Labadi Beach Hotel Distinguished Colleagues, Managing Director of Graphic Communications Group, Chief Executive of Stanbic Bank Ghana, Invited Guests, Ladies and gentlemen, Good morning.
Let me begin by commending the Graphic Business and Stanbic Bank Ghana for yet another timely and thought -provoking edition of this flagship breakfast series.
This platform has become a vital part of our national economic discourse , where ideas are tested, assumptions are challenged, and the policy-business interface is strengthened in the public interest.
The theme for today—“Sustaining Forex Gains: Business and Economic Impact” could not be more relevant.
It reflects not only the macroeconomic transformation underway in Ghana but also the central question on many minds: Can the recent strength of the Cedi be sustained, and how can it be translated into meaningful business outcomes?
Ladies and gentlemen, The Ghanaian economy has, over the last three years, endured extraordinary shocks, ranging from the domestic debt exchange programme (DDEP) to global financial tightening, and fiscal slippages driven by excessive borrowing.
These events tested the very fabric of our macroeconomic architecture.
Inflation soared, the currency weakened sharply, and public confidence wavered.