The Bank of Ghana (BoG) has justified the construction of a new headquarters, insisting that its current head office, built in the 1960s, is no longer fit for purpose.
The National Democratic Congress, NDC, had earlier accused the Bank of building a new Head Office at 250 million dollars.
In a statement in Accra, the BOG said a structural integrity assessment conducted on the current office revealed that the building does not satisfy the full complement of excess strength required for a building to be considered safe for usage.
The BOG added that ‘in the case of a worst-case gravity and wind loading scenario’, such as unusually strong wind, or earth tremor, the building may be significantly affected.
The statement added that the old building in the central business district does not also have the required strength to withstand what the bank described as “the expected imposed significant earthquake loads” that would be expected to occur in the Accra area.
According to the Board and Management of the Bank, a new Head Office building is considered, an important project to support the operational efficiency of the Bank and also put it in a very good position to be the host of the regional Central Bank as Ghana currently hosts the West African Monetary Institute, WAMI, of the Sub-region.”