The IADI – Africa Regional Committee (ARC) Workshop took place from July 16th to 19th, 2024 at the Labadi Beach Hotel, in Accra Ghana. This significant event, hosted by the Ghana Deposit Protection Corporation (GDPC) focused on the theme: "The Increasing Role of Deposit Insurers in Bank Resolution."

The workshop brought together financial regulators and deposit insurance experts from across Africa, enabling in-depth discussions and knowledge-sharing. Expert panels and interactive workshops delved into the complexities of effective bank resolutions, while networking opportunities encouraged collaboration among industry leaders, policymakers, and professionals.

In her opening remarks, Mrs. Pearl Esua-Mensah, Chief Executive Officer (CEO) of GDPC, underscored the critical importance of deposit insurance systems in today's global financial environment.

“In the light of recent global financial challenges and bank failures, deposit insurance systems are indispensable for maintaining financial stability. This workshop serves as a vital platform for exchanging insights, experiences, and best practices crucial to effective bank resolutions,” she stated.

Mrs. Esua-Mensah emphasized the workshop's educational aspect, aimed at deepening participants' understanding of safeguarding depositor funds and ensuring the integrity of financial institutions.

“Together, we aim to leverage collective knowledge to tackle the challenges and opportunities ahead,” she indicated.

Dr. Maxwell Opoku-Afari, First Deputy Governor of the Bank of Ghana, also addressed the gathering and highlighted proactive measures taken by the Bank of Ghana in enhancing regulatory frameworks to ensure robust financial oversight.

He emphasized that the inclusion of deposit protection in curricula for tertiary educational institutions not only educates future finance professionals but also strengthens public awareness and confidence in the banking sector’s resilience.

Dr. Opoku-Afari made reference to ongoing collaboration with international bodies to align Ghana's deposit insurance practices with global standards, further bolstering the country's financial resilience.

Eva Hüpkes, Secretary-General of the International Association of Deposit Insurers, delivered the keynote address. She emphasized the crucial role of deposit insurers in maintaining global financial stability, especially in light of recent banking challenges.

She stressed the importance of deposit insurers adhering to rigorous principles in safeguarding deposits, highlighting their pivotal role in enhancing the resilience of financial systems and fostering public confidence.

Dr. Alex Ampaabeng, Deputy Minister for Finance, delivered the closing remarks, emphasizing the Government of Ghana's comprehensive approach to ensuring financial stability.

“The government has made significant strides in strengthening the regulation and supervision of banks and special deposit-taking institutions. We have also enhanced the soundness of the insurance, pension, and capital market sectors. A key component of this strategy is the creation of the Ghana Deposit Protection Corporation (GDPC), which plays a pivotal role in safeguarding depositors’ funds and maintaining stability in the event of bank failures,” he stated.

Throughout the workshop, participants gained valuable insights into practical bank resolution strategies. GDPC aimed to equip attendees with the necessary tools and knowledge to effectively protect depositor funds and strengthen the resilience of financial institutions.

The workshop's outcomes are expected to contribute significantly to refining bank resolution strategies and fortify financial stability not only in Ghana but across Africa.

Participants left with enhanced capabilities to safeguard depositor funds, promote financial system integrity, and bolster public confidence in banking systems.

The Ghana Deposit Protection Corporation is a statutory body established under the Ghana Deposit Protection Act, 2016 (Act 931) as amended, to protect depositors’ funds in the event of a bank failure.

The Corporation contributes to promoting financial stability and public confidence in the Ghanaian banking system.