Beatrice Annangfio’s Official Duties As A Member Of The BoG Board

Beatrice Feehi Annangfio has been appointed by President John Dramani Mahama to the Bank of Ghana’s Governing Board. A larger attempt to reorganize the board with the goal of fortifying the nation’s central banking system includes this nomination.

As a practicing lawyer, Beatrice Annangfio contributes a lot of legal knowledge to the board. Her appointment is anticipated to improve the board’s regulatory and oversight capabilities, supporting the stability and expansion of Ghana’s financial industry.

A wide range of professions, including financial specialists, lawyers, and economists, make up the recently appointed board. Notable members include lawyer Kizzita Mensah and Bolgatanga Central Member of Parliament Isaac Adongo.

The Bank of Ghana’s governor, Dr. Johnson Pandit Asiama, will preside over the board, with deputy governor Dr. Zakari Mumuni acting as vice-chair.

The government’s resolve to support the country’s financial institutions and guarantee efficient management at the Bank of Ghana is in line with this reconstitution. It is expected that the board members’ varied backgrounds will influence strategic choices that will benefit Ghana’s economy.

Beatrice Annan will have a number of important duties as part of her role on the board, such as:

• Policy Formulation & Oversight: Contributing to the formulation of monetary and financial policies.
Ensuring the stability of Ghana’s financial system through sound governance. She will also be advising on strategies to control inflation and manage currency stability.

• Supervision & Compliance: Beatrice will be monitoring the implementation of the Bank of Ghana Act, 2002 (Act 612) and its amendments.
Overseeing compliance with banking regulations and international financial standards. She will also be ensuring the effective supervision of banks and financial institutions.

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• Financial Stability & Economic Growth: Supporting policies that promote economic growth, financial inclusion, and sustainable banking practices. She is tasked to oversee measures to prevent financial crises and enhance risk management.

• Governance & Accountability: Participating in decision-making on key financial and economic matters. Here, Beatrice has the duty to ensure transparency and accountability in the Bank’s operations. Besides, this, she will help to review financial reports and approving the Bank’s budget and expenditures.

• Currency & Reserves Management: she will oversee the issuance and management of Ghana’s currency, by ensuring efficient management of foreign exchange reserves and external debt.

• Coordination with Government & International Bodies: Advising the government on fiscal and monetary policy decisions. Engaging with international financial institutions such as the IMF, World Bank, and regional banking institutions.