February 1, 2025: President Mahama Nominates Dr. Johnson Asiamah as New Bank of Ghana Governor
President John Dramani Mahama has nominated Dr. Johnson Asiama, a seasoned economist and former Second Deputy Governor of the Bank of Ghana (BoG), to take over as the new Governor of the central bank. The nomination, which is pending approval by the Council of State, comes as current Governor Dr. Ernest Addison prepares to proceed on terminal leave ahead of his retirement on March 31, 2025.
Who is Dr. Johnson Asiama?
Dr. Asiama brings a wealth of experience to the role, having previously served as the Second Deputy Governor of the Bank of Ghana from 2016 to 2017. With over 23 years of service at the central bank, he has played a key role in shaping Ghana’s monetary policies and financial stability frameworks.
A highly qualified economist, Dr. Asiama holds a PhD in Economics from the University of Southampton, UK. Throughout his career, he has demonstrated a strong commitment to implementing sound monetary and exchange rate policies, fostering financial stability, and promoting accelerated economic growth in Ghana.
Why the Change in Leadership?
The nomination follows a formal request by Dr. Ernest Addison, the outgoing Governor, to proceed on terminal leave starting Monday, February 3, 2025. Dr. Addison, who has served two full terms as Governor since his initial appointment in April 2017, will officially retire on March 28, 2025.
Under the Bank of Ghana Act, 2002 (Act 612), the Governor’s tenure is limited to two four-year terms. Dr. Addison’s leadership has been widely praised for steering the central bank through significant economic challenges, including the COVID-19 pandemic and global financial uncertainties.
What’s Next for the Bank of Ghana?
Dr. Asiama’s nomination signals a new chapter for the Bank of Ghana. If approved by the Council of State, he will take over the reins at a critical time, with the central bank facing ongoing challenges such as inflation control, currency stability, and fostering economic growth.
In a statement, the Bank of Ghana expressed gratitude to Dr. Addison for his “meritorious and distinguished service” and wished him a restful retirement.
Key Highlights
- Dr. Johnson Asiama’s Nomination: Pending approval by the Council of State.
- Dr. Ernest Addison’s Retirement: Proceeds on terminal leave from February 3, 2025, and retires on March 28, 2025.
- Experience and Expertise: Dr. Asiama brings over two decades of experience in monetary policy, financial regulation, and economic research.
What This Means for Ghana’s Economy
The transition in leadership at the Bank of Ghana comes at a pivotal moment for the country’s economy. Dr. Asiama’s extensive experience and proven track record position him as a strong candidate to build on Dr. Addison’s legacy and address the economic challenges ahead.
As the Council of State reviews the nomination, Ghanaians will be watching closely to see how this change in leadership shapes the future of the central bank and the broader economy.
Stay tuned for updates on this developing story and its implications for Ghana’s financial landscape.