Governor of the Bank of Ghana, Dr. Johnson Asiama, has urged staff and stakeholders to embrace gratitude and maintain vigilance as Ghana’s economy shows signs of recovery and stability.
Speaking at the Bank’s Festival of Nine Lessons and Carols and Thanksgiving service in Accra, Dr. Asiama described the past nine months as “challenging but rewarding,” noting that the gathering was a rare opportunity to pause from the usual corporate routine and reflect on progress.
“Earlier this year, we spoke about steady leadership, shared responsibility, and restoring confidence. Looking back now, it is clear how much effort and professionalism this journey has required from all of us,” he said.
The Governor highlighted significant improvements in macroeconomic indicators, pointing to inflation now below 10 percent and the Ghana Reference Rate (GRR) at about 15 percent, down from over 30 percent in previous years.
“We are on course. By the end of next year, we could actually get to the 10 percent lending rate I envisaged for the next three years,” he stated, adding that lower rates would enable young entrepreneurs to access affordable credit.
Dr. Asiama, however, cautioned that despite improved fundamentals, risks remained due to global uncertainties, geopolitical tensions, and potential domestic shocks such as food supply disruptions.
“Progress gives us room to move, but it also calls for vigilance. As much as we do our policy fixes, we must not forget prayer. Prayer counts,” he emphasized.
The Governor outlined major reforms undertaken in 2025, including amendments to the Bank of Ghana Act to strengthen governance and operational independence, preventing liquidity injections that contributed to the 2022 financial crisis.
“I can confidently say that what happened in 2022 will never happen again,” he assured, referencing the domestic debt exchange and investor losses.
Another milestone was the passage of the Virtual Asset Service Providers (VASB) legislation, legalizing cryptocurrency trading under a regulated framework.
“Doing crypto from today is legal. Nobody’s going to arrest you for doing so. But we now have the framework to manage the risks,” he explained.
Looking ahead to 2026, Dr. Asiama announced plans for a comprehensive “people strategy” to enhance staff development, leadership succession, and workplace culture.
He also revealed efforts to strengthen subsidiaries such as Ghana International Bank in London, GIBS, and the Bank Hospital, as well as the creation of a new subsidiary to manage real estate and assets acquired during the financial sector clean-up.
“Our aim is simple – to build an environment where people feel supported, challenged, and proud of the institution they serve,” he said.
Dr. Asiama thanked the staff for their professionalism and resilience throughout the year.
“We give thanks for sound judgment under pressure, for integrity in difficult moments, and for teamwork across the Bank. May God bless the work of your hands and renew your strength for the year ahead,” he said.
The event also featured a sermon by Archbishop Duncan Williams, who underscored the importance of gratitude as a foundation for longevity and success.
“Gratitude not expressed is ingratitude,” the Archbishop declared, commending the Bank’s leadership for creating an atmosphere of thanksgiving. “Thanksgiving guarantees longevity and secures your future.”
The festival on the theme “Give thanks to the Lord, for He is good! For His Mercy endures forever,” attracted gospel music greats, including MoG Music and ACP Kofi Sarpong. There were choral renditions from the Celestial Voices, the Symphonials, Ghana and the Melodious Voices of the Exchequer.
The offertory at the event will be donated to charity.