Bank of Ghana had 2,368 workers by end of 2024; total number recruited in 2024 alone was 201 – Report

The 2024 Annual Report and Financial Statement of the Bank of Ghana has said that in order to strengthen human resource capacity within the central bank, the Bank updated its Handbook on Human Resources (HR) Policies to ensure its relevance and effectiveness and also continued with the implementation of the Human Capital Support Project to enhance staff competence.

In addition, the report said, the Bank improved its HR functions, which included the automation of staff Job Descriptions and competency profiles in its enhanced Performance Management System (ePMS).

To sustain organisational culture, it added, an Employee Appreciation Day was organised to recognise and show appreciation for the hard work of deserving members of staff.

Regarding Staff Strength, the report said that the Staff population of the Bank rose by 6 per cent to 2,368 by end-December 2024 from 2,233 as of end-December 2023.

“The total number of staff recruited in 2024 was 201. A total of 64 members of staff exited the service of the Bank during the year. This resulted in a net intake of 137,” it said.

In the area of the banking sector of Ghana’s economy, Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, said in the foreword of the report that the sector’s performance continued to improve, supported by strong asset growth.

Also, he said, the financial soundness indicators showed gains in solvency, liquidity, and operational efficiency within the banking industry.

The industry’s Capital Adequacy Ratio was 14 per cent, above the prudential minimum of 10 per cent.

To mitigate credit risk, he said the Bank continued to enforce rigorous credit risk management and underwriting standards for regulated financial institutions.

“In addition, the Bank issued several directives to further strengthen the resilience of the banking sector. Looking ahead, these will require sustained reforms to strengthen the sector’s resilience,” he said.

Dr Asiama further stated that the Bank undertook several activities to promote financial inclusion, fair treatment of customers, and adherence to consumer protection principles.

Specifically, he said, the Bank expanded access to digital wallets and mobile money services, and improved the security and efficiency of payment channels to bridge the gap between traditional financial services and the underserved segments of the population.

Furthermore, he said, the Bank issued the Persons with Disabilities Directive to ensure that this segment of the population benefits fully from banking and other financial services, devoid of discrimination and other impediments that may hinder access.