The Vice President, His Excellency Alhaji Dr. Mahamudu Bawumia, has inaugurated a new board for the Bank of Ghana.

Notable among the new board members is Keli Gadzekpo who is the Group CEO of Enterprise Group and has reached experience in investment banking and Comfort Ocran, a motivational speaker and CEO of Legacy & Legacy and Executive Director of Springboard Roadshow Foundation. She is also the co-founder of Combert Impressions.

The board which will be chaired by the Governor, Dr. Ernest Addison, will have the following also as members, First Deputy Governor Dr. Maxwell Opoku-Afari, Second Deputy Governor Dr Johnson P. Asiama, Mr. Charles Adu-Boahen, Dr. Sr. Eugenia Amporfu, Dr. Kwame Owusu-Nyantekyi, Dr. Samuel Nii Noi Ashong, Mr. Jude Kofi Bucknor, Mr. Joseph B. Alhassan, Mr. Andrew Boye-Doe, and Dr. Maria Hagan.

The Vice President, His Excellency Alhaji Dr. Mahamudu Bawumia, charged the new board members of the Bank of Ghana, to work hard to bring down interest rates.

According to Dr. Bawumia, this is one sure way which will end the cycle of government crowding out the private sector, while making sure the sector can access credit at a cheaper cost.

Speaking to the board, the Vice President, His Excellency Alhaji Dr. Mahamudu Bawumia, called on them to also look at policy impact on economic growth, even as they focus on the Bank’s core mandate of price stability.

He also stressed that, the basic function of the Board is to assist the Bank to perform its core mandate of price stability and to do this in the context of its independence as an institution.

“I wish to charge you to work assiduously so that the financial sector can play its responsible role, crowding in the private sector to get access to credit affordably, which means that we have to really think seriously about bringing interest rates down”.

The Vice President recognised the Bank’s efforts at bringing the policy rate down and said: “While we achieve macroeconomic stability, we expect the decline in the policy rate to also be transmitted to lending rates in the country among the banks”.