BoG Governor sure of robust, well capitalised banking sector in December

Business News of Sunday, 2 December 2018

Source: adomonline.com

2018-12-02

Dr Ernest Addison, BoG Governor

Ghana’s banking sector is set to witness a robust and well-capitalised banking sector in December 2018, the governor of the Bank of Ghana, Dr Ernest Addison has assured.

He gave the assurance in his keynote address at the fourth Ghana Mining Awards organised by the Ghana Chamber of Mines Accra.

Dr Addison admitted that stability in the financial sector is the duty of the central bank hence their move to restore sanity in the financial sector.

He, however, assured Ghanaians of a well-focused financial sector with good corporate governance practices that will inure to the benefit of all.

He noted the significant progress in the performance of the export sector of the economy.

According to him, mineral commodities such as gold have been posting some positive gains that have contributed significantly to the economic stability of the country.

He explained that in 2017, minerals export alone recorded 6 billion U.S Dollars and 5.8 billion U.S Dollars at the end of October 2018, expressing hope that the 6 billion U.S Dollars export target would be achieved by the close of the year.

Dr Ernest Addison Commended the players of the industry for ensuring significant improvement in reparation of all export earnings into the country.

He, however, encouraged the chamber to adhere strictly to the retention of dividends, adding that as the country’s domestic financial system improves, companies that operate in the system should continue to repatriate more of the foreign exchange that they are earning to inure to the benefit of the Ghanaian economy.

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