Last mentioned: Mar 3, 2026
BMA Integration Announced
BoG formally announces the embedding of business model analysis into sector supervision.
Retrospective
Publication of leadership lessons one year after leaving office.
Term Completion
Awadzi completes her seven-year tenure at the Bank of Ghana.
Debt Restructuring Impact
Domestic Debt Exchange Program (DDEP) significantly impacted bank balance sheets and profitability.
Debt Crisis
Ghana enters severe macroeconomic crisis leading to IMF-supported restructuring.
COVID-19 Pandemic
Implementation of emergency liquidity and regulatory relief measures.
Banking Sector Cleanup
Aggressive reforms to stabilize the banking and fund management industries.
Appointment
Elsie Addo Awadzi begins her term as Second Deputy Governor.
Banking Sector Cleanup
BoG revoked licenses of several banks, reducing the total from 34 to 23 to stabilize the system.
Former Bank of Ghana Deputy Governor Elsie Addo Awadzi has released a retrospective on her seven-year tenure (2018-2025), a period defined by systemic financial reforms and a sovereign debt crisis. Her analysis emphasizes that central bank leadership during crises is a matter of political economy rather than purely technical management.
The Bank of Ghana is integrating Business Model Analysis (BMA) into its supervisory framework to proactively assess the long-term viability and risk profiles of financial institutions. This strategic shift moves beyond traditional compliance-based oversight toward a forward-looking evaluation of bank profitability and strategic sustainability.
The Bank of Ghana is urging the virtual assets industry to develop cedi-pegged stablecoins to mitigate foreign exchange volatility and protect the national currency. This strategic push precedes a new regulatory framework aimed at aligning digital asset innovation with national monetary stability.