Ernest Addison: The futuristic economy - technology-driven future of business & governance for economic transformation

Keynote address by Dr Ernest Addison, Governor of the Bank of Ghana, at the Ghana CEO Summit 2019, Accra, 20 May 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Salutations

Let me thank organisers of this Ghana CEO Summit for creating such a unique platform where over 400 CEOs gather at one place to discuss issues of relevance to the businesses and the economy in general.

Mr. Chairman, we at the BoG start a 3-day MPC meeting this week which we will review developments on the economy and take a decision on where to place the policy rate. I will therefore not discuss Monetary Policy today. However, as you all know, in the last two years, we addressed serious lapses in governance and weaknesses in the operational efficiency of some banks. The systemic nature of the infractions put several depositors' funds at risk and weakened public trust in the industry. We therefore took the challenge, daunting as it was, to clean the financial sector and safeguard the solvency and stability of the banking system in particular, and the financial system as whole, given the interconnectedness of the banks and other Specialized Deposit Institutions.