Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, is set to take a step back from the helm of the central bank as he embarks on terminal leave from Monday, February 3, 2025, preparing for his official exit on March 28, 2025.
Dr. Addison has held the position since April 2017, successfully completing two full terms in line with the Bank of Ghana Act, 2002 (Act 612), which sets the Governor’s term at four years, renewable for just one additional term. His departure marks the end of a controversial yet significant period in Ghana’s financial history.
Sources within the central bank confirm that President John Dramani Mahama has officially approved Dr. Addison’s leave, solidifying the timing of this leadership transition.
New Governor Nominated: Dr. Johnson Asiamah
With Dr. Addison stepping down, President Mahama has nominated Dr. Johnson Asiamah to take over the Bank of Ghana leadership. The appointment is pending approval by the Council of State.
Dr. Asiamah, who previously served as the Second Deputy Governor between 2016 and 2017, boasts an impressive resume with a PhD in Economics from the University of Southampton and over 23 years of experience at the Bank of Ghana. He has been a key player in monetary policy formulation, financial stability regulation, and economic research, which positions him to steer Ghana’s banking sector through turbulent economic times.
Dr. Asiamah’s appointment comes at a pivotal moment, with Ghana facing mounting challenges in exchange rate volatility, inflation, and financial sector reforms. His track record suggests he is well-prepared to confront these challenges head-on.
