ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
These are issued to ensure a resilient, stable, and sound financial system while also complying with the Basel Committee on Banking Supervision’s standards and guiding principles, wh ich is the primary global standard for the prudential regulation and supervision of banks.
Our economy continues to be on a path of progress and its our expectations that the disinflation process already began will be sustained.
To conclude, Distinguished Guests, let me once again congratulate Management and staff of the First Bank Ghana Limited on this milestone to reinforce the bank’s footprint in the industry.
I would like to encourage FirstBank Ghana to deliver on its brand promise and commitment to clients and stakeholders.
Congratulations on your 130 th Anniversary celebration and a successful name change.
Thank You and God bless us all.
30TH ANNIVERSARY CELEBRATIONS – NATIONAL BANKING COLLEGE SPEECH BY DR ERNEST ADDISON GOVERNOR, BANK OF GHANA & CHAIRMAN, GOVERNING COUNCIL, NATIONAL BANKING COLLEGE READ ON HIS BEHALF BY DR MAXWELL OPOKU-AFARI THE FIRST DEPUTY GOVERNOR, BANK OF GHANA & REPRESENTATIVE OF THE SUBSTANTIVE CHAIRMAN, GOVERNING COUNCIL, NATIONAL BANKING COLLEGE KEMPINSKI HOTEL GOLD COAST CITY, ACCRA 26TH APRIL 2024 Esteemed Council Members Principal of the National Banking College Managing Directors of Banks and other Stakeholders Distinguished Invited Guests Faculty and Staff, and Members of the Media 1.
Good morning, Everyone.
It is a pleasure and an honour to join you today to celebrate a significant milestone, that is, the 30th Anniversary of the National Banking College (NBC).
Before I proceed, let me thank the Principal, Madam Gloria Quartey, and her management team for the excellent organization of this event.
I also wish to congratulate past and present members of the Governing Council , Principals and Faculty heads on this occasion.
This is no mean achievement because over the past three decades, the NBC has diligently upheld its mandate to provide capacity building to banks, non-bank financial institutions, as well as other enterprises in Ghana and across the sub-region.
NBC Historical Perspectives 2.
For us to appreciate the enormous amount of work done by the College, let me walk you down memory lane.
The journey began with a vision in the early 1990’s with Ghana undergoing reforms in the financial sector, the need for professional banking training and development to help address challenges and enhance efficient operations became evident.
The Bank of Ghana, under the Governorship of the late Dr.
Godfred Agama, and with support from the Ministry of Finance, founded the College on the 9th of April 1994 as a private entity limited by guarantee.
The College was set up as an autonomous non -profit-making institution and charged with developing training programmes for bankers at the professional and managerial levels.
The core mandates bestowed on the College included: • Planning, promoting, and providing education and training in the operations and management of banking and financial institutions, • Organizing conferences, seminars, conducting research and consultancies, and, • Awarding degrees, diplomas, certificates, and other qualifications.
The establishment of NBC did not end there.
The Bank of Ghana took a keen interest in developing permanent institutional arrangements for its operationalization.
Firstly, the Bank made available its property located at the Airport Residential Area to house the new institution.
Secondly, the Bank engaged the Reserve Bank of India (RBI) and the National Institute of Bank Management (NIBM) at Pune, India to provide capacity and institutional support for the College.
And, finally, the Bank of Ghana provided funding to cater for all the College’s operational needs at that time.
After consultations with similar institutions , the Bank adopted the funding model of NIBM and decided to share the operational costs of the College on a 40%-60% basis: 40% from the central bank and 60% from the universal banks.
As the number of universal banks increased over the years, the allocations changed to 35% for the Bank of Ghana and 65% for the universal banks.
Ladies and Gentlemen, in furtherance of operationalizing the institution, Mr.
Emmanuel Asiedu Mante of blessed memory, was seconded from the Bank of Ghana as the first Principal of the College to implement the vision, supported by a faculty of seven (7) members with proven operational experience from the commercial, merchant, and development banks.
In 1996, Mr.
Singh Gupta of the NIBM joined the College on secondment to offer technical support to the newly appointed faculty, together with infrastructural support from institutions such as the World Bank.
The first Governing Council of the College comprised eight (8) members, chaired by the then Governor, Godfred Kportufe Agama.
To provide administrative support, staff from the Bank of Ghana went on secondment to the College .
Thirty years on, seven (7) Governing Council Chairs, and seven (7) Principals have served the College.
The Governing Council has been instrumental in shaping the overall vision, mission, and strategic goals of NBC over the years.
The Governing Council, together with the various Management teams, has selflessly managed affairs at the College in line with best practices and ensured its continued growth and relevance in the industry.
In each passing year, the institution has navigated through various economic landscapes and regional and global transformations to become stronger and more impactful.
Indeed, the continued success of NBC attests to its resilience and dedication.
More recently, issues that emerged from the banking sector c lean up exercise necessitated a review of NBC’s strategies to actuali se its vision of becoming a world -class institution, delivering effective training in banking and finance, and thus playing a leading role in the capacity building of employees in the financial sector.
In the context of recent developments in global economics and then the Ghanaian banking industry, the Governing Council, approved a five -year strategic roadmap spanning 2021 to 2026, and empowered Management of NBC to define a clear and collective direction to achieve the mandate.
In line with this, the College has expanded course offerings, introduced new programmes, enhanced infrastructure, and ensured continuous investment in faculty development .
Today, as we commemorate NBC’s 30th anniversary, we will not only celebrate past achievements, but also look forward to a future filled with promise, innovation, and continued growth.
Over the past 30 years, a strong Governance and Oversight structure has been established and implemented by the Governing Council.
This has contributed to maintaining the highest standards of integrity, customer focus, excellence, teamwork, professionalism, and fairness , and ultimately, sustaining operations of the College .
Indeed, the Council remains deeply committed to upholding its governance role with utmost diligence and responsibility .
Through the setup of specialised Committees (such as Finance and Administration, Technical, and Audit and Governance ), the Council plays a pivotal role with diligent oversight in all aspects of operations .
This has ensured that the Banking College operates within the legal and regulatory frameworks, safeguarding its reputation and building stakeholder trust.
Transparency, accountability, and ethical conduct are other hallmarks that the Council holds in high regard, and all these have be come embedded in the governance framework .
Additionally, NBC has built partnerships over the years and collaborated with other stakeholders to enrich the educational offerings, faculty development, and student opportunities.
Current Achievements 11.
As we celebrate the College’s exceptional progress, let me highlight remarkable achievements chalked over the past 30 years.
Through innovative programmes and strategic partnerships, NBC has equipped countless professionals with the knowledge and skills necessary to thrive in the ever -evolving financial services sector.
For instance, the number of programmes offered by the College has increased from 69 in 2018 to 165 in 2023, while participation jumped from 2,828 banking professionals and non-bank participants to 5,751 over the same period.
Additionally, • The College has upgraded its IT infrastructure to improve programme content and delivery that match up with the expectations of stakeholders, as well as monitoring and evaluation of training activities.
• NBC’s commitment to excellence has earned it recognition as a leading institution in financial services education, with trained participants serving as pillars of expertise, integrity, and professionalism in the country’s financial sector.
• The College has spearheaded the ongoing annual corporate governance certification programme for boards of directors and executive teams of universal banks, rural banks, and other financial institutions.
• The College also continues to diversify its programme offerings by engaging in consultancy services in areas such as risk management, board evaluations, and agribusiness, in collaboration with institutions like GIRSAL and AGRA.
In addition, the College faculties undertake research of financial institutions, to develop programmes that address uniquely identified challenges.
• As part of efforts to incorporate best practices, expert knowledge and programme relevance, the College has established partnerships with subject matter experts and institutions, both locally and internationally , to bring the much-needed exposure to the doorsteps of all stakeholders.
Way Forward for NBC 12.
Our commitment to infrastructural development cannot be overemphasized.
Continuous improvement in the physical facilities, leveraging technology, and research resources for participants has enhanced the College’s appeal as an excellent world - class learning environment that fosters growth, innovation, and success.
In improving its operations, the College is also working assiduously to ensure revenue sustainability through internally generated funds.
The NBC’s strategic plan provides a clear roadmap to the year 2026, and the Governing Council believes that with the needed support, Management will efficiently execute the plan.
Esteemed Guests, this momentous occasion of celebrating the 30th anniversary of the National Banking College calls for unity of purpose and the embracement of the shared vision to shape and propel NBC towards greater heights.
The commitment to innovate, adapt, and evolve to meet the changing needs of the banking and finance industry should be at the forefront of all our endeavours.
This will help us grow a strong and well-trained workforce in the financial sector to ensure stability and growth of the economy.
As we look to the future, I am confident that we will take giant strides and create a lasting impact that will shape future leaders of the banking and finance industry.
In conclusion, Ladies and Gentlemen, I want to express my profound gratitude to all stakeholders - industry leaders, regulators, local and international institutions, faculty, staff, and participants - for their unwavering support, dedication, and collaboration over the past 30 years.
Your contributions have been invaluable in shaping NBC's success story and legacy.
The General Council will further strengthen the governance structures and uphold the highest standards of ethical conduct to ensure that NBC remains a leader in banking and finance education, setting benchmarks for excellence and innovation.
Long live the National Banking College!
Long live Ghana!
May God Bless Us All.
2024 AFRICAN CONSULTATIVE GROUP (ACG) MEETING WITH THE MANAGING DIRECTOR OF THE INTERNATIONAL MONETARY FUND, KRISTALINA GEORGIEVA BOLSTERING AFRICA’S FINANCING THROUGH THE OVERLAPPING CRISES AND BEYOND STATEMENT BY DR.
ERNEST ADDISON GOVERNOR, BANK OF GHANA IMF HEADQUARTERS BUILDING, WASHINGTON, D.C, USA TUESDAY, 16TH APRIL 2024 1 Thank you, Chair.
I appreciate the opportunity today to speak on behalf of my fellow Governors about “Bolstering Africa’s Financing through the Overlapping Crises and Beyond.”
Let me first express my heartfelt gratitude to the Managing Director, Madam Kristalina Georgieva, for your excellent leadership, and your strong support for Africa.
Madam MD, Africa continues to face complex challenges against the backdrop of successive shocks, manifesting in a subdued post -pandemic recovery, elevated debt distress, and a persistent funding squeeze, that have amplified income divergences and undermined the achievement of sustainable and inclusive growth.
My colleague Governors, our domestic adjustment policy efforts without adequate financing can only yield limited results, in the context of the complex domestic and external environment.
As such, stronger support from the development partners, including the IMF, remains paramount.
Considering the low catalytic effect of Fund financing, many of our countries view the countercyclical role of Fund financing as indispensable.
To this end, Madam Managing Director, we highlight the following points for your consideration:  First, we view continued pragmatism and agility of IMF’s policies to changing global conditions as paramount to better serve its vulnerable members.
To this end, we underline the necessity for the upcoming comprehensive review of LICs facilit ies to maintain the PRGT’s concessionality and promote higher access to reverse erosion amplified by the global inflationary episode.
We also underscore the criticality of replenishing the CCRT resources envelope to offer grant support to our most vulnerable members in this shock-prone world.
Considering the expiry of the Food Shock Window amidst a food crisis triggered by the El Nino phenomenon, Fund emergency financing alongside augmentations in program countries would be important to close climate induce d financing gaps.
In this regard, we call for intensified fundraising efforts under the second phase of the resource mobilization initiatives.
 Second, we call for meaningful collaboration between the IMF and the World Bank to better align their support t o LICs .
In this regard, we stress the need for coordination of the IMF’s LIC Facilities Review with the World Bank’s IDA21 replenishment efforts to support LICs in a holistic manner.
 Third, we stress the need to keep all financing options on the table, including the use of the Fund’s internal resources.
In view of the recent 2 multiple shocks and a crisis like no other, now is the opportune time for a modest gold sale, particularly when gold prices are still favorable.
 Finally.
we restate our request for f urther enhancements to the G20 Common Framework while leveraging the Global Sovereign Debt Roundtable (GSDR) to promote rapid, transparent, and equitable resolution of debt as well as facilitate debt cancellation for the most vulnerable members.
The review of the Fund’s internal debt policies is welcome, but we stress the need to ensure that the changes are impactful and achieve their intended purpose.
Governor’s Statement – Joint IMF MoF BoG Press Conference on the Second Review of the Extended Credit Facility (ECF) Programme 13th April 2024 1.
Thank you Stephane for those opening remarks.
Let me also thank you and your team from the IMF , who have spent the last two weeks with us pouring over numbers and discussing matters to move our economy forward.
We are happy that this effort has not been in vain and we are ending the Mission with a Staff -Level Agreement, which we hope will translate into a Management and Executive Board approval for the release of another tranche of IMF support.
We have shown steadfast commitment to a set of policies right from the beginning under very difficult circumstances and we have reached a stage where programme implementation is progressing well .
We completed the first review of the ECF programme in the latter part of last year and today we are at the verge of completing the second review with steadfast implementation of our policy measures.
With substantial progress in these measures, we are beginning to reap substantial macroeconomic dividends.
Inflation has dropped significantly from a peak of 54 percent at end of 2022 to 23 percent in 2023.
The exchange rate remained relatively stable throughout last year , supported by tighter monetary policy and stronger foreign exchange reserves.
Economic growth surprised on the upside.
During the first quarter of this year , this progress has continued although we have witnessed some slowdown in the pace of disinflation primarily due to a variety of factors including adverse base drift effects.
The expectation however is for the disinflation process to resume in the second quarter of 2024 and beyond driven by continued maintenance of a tight monetary policy stance.
Our expectation for end year inflation of 15+/- 2% remains unchanged.
We have also continued to strengthen our foreign exchange reserve buffers and our current account balance has improved.
Despite the delays in disbursement of some donor support, our foreign exchange reserves have remained steady and is reported at $6.2 billion as of 5th April 2024.
We will continue to implement the policies that have helped sustain that progress including the innovative Gold for Reserves programme, which has acted as a game changer in our foreign exchange management strategies.
During the period while the mission was here, we have also addressed some burning issues including the impact of the DDEP on the balance sheet of the Bank of Ghana and we have reached broad understa nding on early recapitalization of the Ban k of Ghana and a Memorandum of U nderstanding between the Bank of Ghana and the Ministry of Finance will be signed to this effect.
We have also discussed progress in the External Debt restructuring programme of the Government and the ongoing discussions with Commercial Creditors, Bondholders and bilateral creditors.
Overall on all sides, we have reached the conclusion that we must continue with steadfast programme implementation of policies, continue with the fiscal rectitude, continue with the tight monetary policy stance, and pursue the necessary structural reforms to underpin the sustainability of the progress we are making.
On the Fund’s side, we expect some degree of flexibility to reflect changing dynamics in the Ghanaian economy.
To conclude, in Ghana’s recent history , we have not been able to successfully implement an IMF -supported programme in an election year without derailment .
The Government and the Central Bank are committed to changing that narrative.
We recognize the importance of continued macroeconomic stability and an early return to the capital markets, and we will remain committed to ensure that program me implementation stays firm.
COCKTAIL RECEPTION MARKING THE 65TH ANNIVERSARY OF THE ESTABLISHMENT OF GHANA INTERNATIONAL BANK Remarks by Dr.
Ernest Addison Chairman, Board of Directors, GHIB and Governor, Bank of Ghana The Honourable Minister of Finance, Dr.
Amin Adam Her Excellency Harriet Thompson, British High Commissioner to Ghana Distinguished CEOs and Invited Guests Fellow GHIB board members, and Members of the Press, 1.
Good evening, everyone and welcome to this momentous occasion of the 65th Anniversary of the establishment of the Ghana International Bank, an important institution in the magnificent City of London.
Ladies and Gentlemen, the move to set up an international bank in London in the aftermath of Ghana’s independence was well-conceived.
Ghana being a resource-rich country with impeccable craftmanship, establishing Ghana International Bank introduced and exposed the country to international trade and investments between Ghana and the world.
Having a dedicated international bank would enhance financial connectivity and access to global clearing markets, while developing expertise in supporting the nation’s trade finance requirements.
It was also intended to be instrumentally capable of providing much-needed foreign exchange to improve the capital account, and to continually capitalise on several leading financial institutions in the country.
In the last 65 years, the GHIB has evolved into a transnational banking institution, with activities spanning across West Africa and increasingly, in East Africa.
The Bank has been involved in some of the most interesting and innovative transactions across its African footprint over the years, including the critical role it plays in providing much-needed correspondent banking services to Ghanaian banks, and institutions across West Africa.
In 2023, for instance, GHIB intermediated over US$8 billion in payments for financial institutions in West Africa.
GHIB also continues to be a lender to various governments across the continent.
The bank is an active participant in Trade Finance activities in primary and secondary markets and has provided critical documentary collection services to Ghana Cocoa Board over the last 25 years in support of the nation’s cocoa export business.
This area requires a lot of work and resources for transactional monitoring to meet the Anti-Money Laundering and Anti- Terrorism financing requirements and ultimately strengthens Ghana’s financial systems resilience, and the integrity of the global financial sector.
Indeed, it would not be an overstatement to say that GHIB is a systematically important financial institution in Ghana and Anglophone West Africa.
Ladies and Gentlemen, amidst the wonders of modern technology and financial progress in general, stands a risk of forgetting the struggles and challenges of the past 50 years.
From the United Kingdom’s balance of payments crisis in the early 1970s, to OPEC’s embargo, to the inflationary era of the early 1980s, to the Gulf War in the 1990’s , and the great financial crises of the 2000’s.
Through all these challenges, it is commendable that GHIB has continued to be an import ant and relevant institution .
T oday, thanks to the tireless efforts of the Board, shareholders, executive management, staff, and all well -meaning stakeholders, GHIB remains a pillar of strength and an indispensable Ghanaian financial institution.
Overtime, Ghana International Bank has greatly evolved, engaging in Corporate Social Responsibility, a commendable practice reflecting the bank’s desire to contribute positively to the Ghanaian community.
T he philanthropic activities of the Ghana International Foundation – a charitable trust established by the Bank – have been helpful in alleviating hardship in rural communities, schools, hospitals, and other deprived areas of the Ghanaian society.
And I am thankful to the trustees for the good judgement, commitment, and time in dealing with the numerous applications for financial support to the foundation over the years.
So, celebrating the 65th Anniversary of GHIB is a landmark event and serves as a major milestone in the history of Ghanaian banking, and I am pleased to share in this moment of reflection.
As Chairman of the board, and Governor of the majority shareholder of this venerable institution, I am pleased with the status of the bank and excited about its prospects.
It is my sincere hope , as we continue to navigate through the challenges and complexities of the global financial markets, GHIB will continue to play a critical role in the transformation of trade in Africa and rise to greater heights in the coming years.
Thank you very much for joining us today to celebrate GHIB and enjoy the rest of the evening.
3i AFRICA SUMMIT 2024 PRESS LAUNCH OPENING REMARKS DR ERNEST ADDISON GOVERNOR, BANK OF GHANA 26TH FEBRUARY 2024 1 His Excellency, the Vice President of the Republic of Ghana, Alhaji Dr Mahamudu Bawumia First and Second Deputy Governors Board of Directors of the Bank of Ghana The Chief Executive Officer of Development Bank Ghana Representatives of Elevandi Chief Executive Officers of Banks Chief Executive Officers of FinTechs Representatives of the Telecom Chamber Representatives of the Ghana Technology Chamber Distinguished Guests Ladies and Gentlemen, 1.
Good morning and a warm welcome to the launch of the maiden 3i Africa Summit.