By Kizito CUDJOE
The newly constituted Bank of Ghana (BoG) board will examine all legacy issues, including the controversial construction of the central bank’s new headquarters, Governor Dr. Johnson Asiamah has told parliament.
Appearing before parliament at a meeting of the Committee of the Whole, Dr. Asiamah assured that the board, once sworn in, will scrutinise the matter in response to sustained public interest in the project.
He disclosed that total cost of the headquarters project stands at US$261.7million, of which US$229.9million has been paid on the project with an estimated US$31.8million of outstanding payments.
As of end-February 2025, total taxes and levies on the construction work amounted to US$48.3million, he said.
The BoG Governor explained that plans for a new BoG head office date back to 2011, following a structural integrity audit that found the existing facility was no longer fit for purpose and could not withstand major earth tremors or strong winds.
On that basis, the Bank’s board decided in 2019 to initiate the necessary procedures for a new corporate head office. The project was initially estimated at US$100.86million, with an initial design proposing a gross floor area of 73,000 square metres including a 25-story tower block, a four-story parking facility, a two-level basement and an auditorium.
The contract was awarded to Messrs. Goldkey Properties Limited at a cost of US$121.08million under a turnkey (design and build) arrangement.
However, Dr. Asiamah said modifications to meet statutory requirements and functionality needs led to changes in the design, expanding the gross floor area to over 107,000 square metres.
The revised project now consists of a 20-story tower block, an eight-storey urban block, a six-story amenities block, five levels of basement parking, an energy farm, treatment plants, security gatehouses and other ancillary facilities, he said.
These developments notwithstanding, Dr. Asiamah said a value-for-money audit will be conducted on the project and subsequently report back to parliament on the findings.
