By Jones Anlimah
The Bank of Ghana has reaffirmed its commitment to deepening engagement with stakeholders across the country, emphasizing collaboration and shared responsibility in sustaining Ghana’s economic stability.
Speaking at a stakeholders’ engagement in Ho as part of the Cedi@60 celebrations, the First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, said the country’s economy was showing signs of steady recovery, with inflation easing and lending conditions improving.
“Stability is not just something you read about, it is something you feel in your pockets, in your shops, and in your home,” Dr. Mumuni said.
He explained that the Monetary Policy Committee had recently reduced the policy rate from 21.5 percent to 18 percent, describing it as one of the most significant single-rate cuts in the Bank’s history. According to him, this move “creates space for borrowing costs to come down so that businesses can breathe, traders can plan, and banks can lend with greater confidence.”
Dr. Mumuni further highlighted improvements in economic indicators, including a 6.3 percent growth in the first half of the year and a 9.6 percent expansion in the Bank’s Composite Index of Economic Activity. He also mentioned that foreign exchange reserves had risen to $11.4 billion, equivalent to 4.8 months of import cover, reflecting deliberate policy choices that are strengthening the economy.
Turning to the Volta Region, he described it as a vital contributor to Ghana’s growth story, with strong agricultural potential, vibrant cross-border trade, and resilient community banks.
“The Volta Region is not waiting to be invited to Ghana’s economic future, it is already shaping it,” he stated, adding that national stability must be felt as strongly in Ho as in Accra.
Dr. Mumuni also emphasized the need for shared responsibility in maintaining macroeconomic stability, saying, “Stability is not achieved by one institution. Everyone has a role to play, working with discipline, patience, and purpose.”
The Director of Communications at the Bank of Ghana, Mr. Bernard Otabil, described the engagement as part of the Bank’s ongoing effort to bring its work closer to the people.
“It’s a dialogue, a network and most importantly, a listening session,” he said. “We came here to hear the concerns of businesses so that it improves what we do as policymakers.”
Mr. Otabil added that similar interactions were being held nationwide with business associations such as GUTA and the AGI, underscoring the Bank’s commitment to transparency and continuous dialogue with all sectors of the economy.
The Ho engagement brought together business owners, financial institutions, traders, and farmers from across the Volta Region. The event formed part of the Bank’s series of activities marking 60 years of the Ghana cedi, focusing on financial literacy, inclusive growth, and strengthening the bond between the central bank and the people it serves.
