If BoG isn't a profit-making institution, it also can't be a loss-making one - Kofi Bentil
Kofi Bentil, Lawyer and Senior Vice-President of IMANI Africa, emphasised that the Bank of Ghana is neither a profit-making nor a loss-making institution. He said the Bank is a body mandated to stabilise the economy. He spoke on Newsfile on Saturday, 2 May.
Mr. Bentil's comments come amid growing public and political scrutiny of the Bank of Ghana's projected GH¢15.7 billion loss for the 2025 financial year. He raised concerns about confusion surrounding the Bank's financial position, questioning, "Are we making profits or losses? The communication is not clear." He likened the Bank's explanation of its losses to "taking a bullet" for the broader economy. He acknowledged that tough economic decisions, including the Domestic Debt Programme (DDP), have helped ease pressure on the economy despite the hardship they caused.
Mr. Bentil cautioned that continued losses without clear outcomes could amount to deferring problems rather than solving them. He also raised concerns about policies in the gold sector, warning against situations where Ghana may be trading the commodity at a loss in an attempt to curb smuggling. He called for greater transparency and accountability from the central bank.
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Kofi Bentil of IMANI Africa has commented on the Bank of Ghana's financial position. He questions the sustainability of recent financial losses - and whether the BoG should be making a profit at all.
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