Bank of Ghana

The Bank of Ghana (BoG) is the central bank of Ghana. It is located in Accra and was formed in 1957. The bank is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion . On 2 March 2012, during an African regional conference on Mobile Financial Services held in Zanzibar, the Bank of Ghana announced it would be making specific commitments to financial inclusion under the Maya Declaration.

History

Brief historical background

The Central Bank of Ghana traces its roots to the Bank of the Gold Coast (BGC) or Ghana Commercial Bank, where it was nurtured. As soon as local politicians and economists saw political independence in sight in the mid-1950s the agitation for a central bank was revived. It was argued that a central bank was one institution which would give true meaning to political independence. It may be recalled that way back in 1947 some leading politicians had called for the establishment of a national bank with central bank functions to act as banker to government and to cater for the indigenous sector of the economy.