What was the purpose of the Bank of Ghana's stakeholder engagement in Techiman?

The forum aimed to deepen public understanding of the Bank of Ghana's mandate, strengthen stakeholder collaboration, maintain financial stability, and gather feedback for policy development.

Bank of Ghana Engages Techiman Stakeholders on Financial Stability

The central bank held a forum in Techiman to deepen public understanding of its mandate, promote financial literacy, and gather feedback for policy development.

2026-10-14 · Updated 2026-10-14

The Bank of Ghana (BoG) conducted a stakeholder engagement forum in Techiman, Bono East Region, aimed at strengthening collaboration and enhancing public understanding of the central bank's role and policy development. The event, themed “Strengthening stakeholder relations through dialogue and engagement,” also sought to maintain financial stability and create value for money.

Attendees included traditional authorities, religious leaders, traders, transport unions, Small and Medium Enterprises, community banks, and microfinance institutions. Participants received information on the BoG's mandate, microfinance sector reforms, responsible borrowing, consumer protection, currency education, and proper banknote handling.

Bernard Otabil, Director of Communications at the BoG, stated that the engagement is part of a nationwide effort to deepen public understanding and strengthen the financial sector. He highlighted that the forum provides a platform for the BoG to receive public feedback crucial for policy development and to address issues related to unlicensed financial schemes and currency abuses.

Otabil emphasized the central bank's commitment to the public, aiming to strengthen trust in the Ghana cedi. He stressed the importance of public understanding and trust in the currency for effective monetary policy formulation. The BoG reiterated its dedication to open dialogue and promoting financial literacy and inclusion, urging the public to report suspected activities of unlicensed financial institutions.

Regional Director Abdulai Lawal Abubakar noted the BoG's commitment to gathering information from stakeholders to enhance its operations and policies. Some stakeholders praised the forum as insightful but raised concerns about high lending rates and the activities of unregulated lenders, calling for further action from the BoG.

FAQ

What was the purpose of the Bank of Ghana's stakeholder engagement in Techiman?: The forum aimed to deepen public understanding of the Bank of Ghana's mandate, strengthen stakeholder collaboration, maintain financial stability, and gather feedback for policy development.
What concerns did stakeholders raise during the engagement?: Stakeholders expressed concerns about high lending rates and the activities of unregulated lenders, urging the Bank of Ghana to address these challenges.