BoG Strengthens Policy Direction with Four Strategic Advisor Appointments — Meet the Experts Behind Ghana’s Next Economic Chapter

Bank of Ghana Appoints Four New Advisors to Steer Economic Policy

Ghana’s financial and banking sector is poised for a transformative phase, following the appointment of four distinguished advisors by the Bank of Ghana (BoG). With backgrounds spanning economics, finance, academia, regulation, and international development, the new appointees are expected to provide crucial insights that will shape the Central Bank’s monetary and regulatory policies in an evolving economic climate.

The announcement was made by the Governor of the Bank, Dr. Johnson Pandit Asiamah, at the opening of the 124th Monetary Policy Committee (MPC) meeting in Accra. He introduced the four new advisors: Dr. John Kwabena Kwakye, Prof. John Gartchie Gatsi, Dr. Francis Kumah, and Mr. Franklin Belnye.

Their appointments come at a time when Ghana is experiencing signs of economic recovery. The Ghana cedi has appreciated in recent weeks, inflation is gradually declining, and investor confidence appears to be strengthening.

“This is part of a broader effort to fortify our policy framework with deep expertise, practical insight, and innovative thinking,” Dr. Asiamah said. He emphasized that the advisors’ contributions would be pivotal in developing sound responses to Ghana’s complex economic challenges.

Meet the Four Advisors and What They Bring

Dr. John Kwabena Kwakye

Dr. Kwakye, currently Director of Research at the Institute of Economic Affairs (IEA), brings extensive experience in central banking and macroeconomic policy. A former IMF advisor and BoG executive, he is well-known for his advocacy of fiscal discipline and structural economic reform.

His appointment is expected to sharpen the BoG’s focus on fiscal-monetary coordination and root-cause solutions to inflation — such as enhancing productivity, stabilizing the exchange rate, and promoting prudent public spending

Prof. John Gartchie Gatsi

Dean of the University of Cape Coast Business School and a chartered economist, Prof. Gatsi offers a strong academic and regulatory background. He has been a vocal advocate for Islamic (non-interest) banking — a system Governor Asiamah indicated the Central Bank is exploring to expand access to credit and deepen financial inclusion.

His presence on the advisory team is also expected to help bridge the gap between academia and financial sector policy-making, especially in areas such as inclusive banking and innovative regulation.

Dr. Francis Kumah

Dr. Kumah, a former IMF Resident Representative and experienced macroeconomist, has spent over two decades working with international financial institutions. His insights are expected to be crucial in enhancing Ghana’s engagement with global partners, managing external vulnerabilities, and strengthening the BoG’s research base in monetary policy.

Mr. Franklin Belnye

Mr. Belnye is already a key figure within the BoG, serving as a Director with a deep focus on banking supervision and financial integrity. He brings institutional continuity and is expected to play a central role in guiding prudential regulations, especially as Ghana’s banking sector consolidates gains made during post-recapitalization reforms.

Outlook

The appointment of these four advisors signals a strong commitment by the Bank of Ghana to deepen policy formulation and strengthen institutional capacity. With Ghana’s economic outlook slowly improving but still vulnerable, the new advisors are expected to provide the strategic vision and policy acumen needed to navigate current and future challenges.

As Ghana moves toward economic stabilization and inclusive growth, all eyes will be on how this advisory team collaborates with the Central Bank and national leadership to sustain momentum and deliver meaningful results for the Ghanaian people.

Last Updated on May 23, 2025 by samboad