New BoG office: It’s only a fool who doesn’t change his mind – Prof. Gyampo destroys Finance Minister’s defense

Senior Lecturer at the Political Science Department of the University of Ghana, Legon, Prof. Ransford Gyampo has hit back at Finance Minister Ken Ofori-Atta over his defense of the decision by the Bank of Ghana (BoG) to build a new head office.

In an article by the Finance Minister on Thursday, September 14, he called on Ghanaians to support the Central Bank in the building of its new headquarters.

He argued that the idea to put up the building was conceived before the country’s economic challenges came about and as a result, Governor Dr. Ernest Addison should be spared the attacks.

“With respect to the BoG’s new headquarters, the evidence is clear that decisions to build had already been made long before these ‘losses’ occurred.

“It is important for us to support such a critical institution to modernise its operations and have a befitting office space for a country that hosts the AfCFTA and has the vision to become the financial services hub of the continent,” the Finance Minister argued.

Reacting to this defense, Prof. Ransford Gyampo says he is surprised this is coming from the Minister.

With his own analogy to destroy the argument of Ken Ofori-Atta, he stressed that it is only a fool who does not change his mind.

“Well it may be true that the decision to construct a new BoG Headquarters was taken long before our losses. But must that decision impose a straight-jacket?

“If you saved to host an end-of-year party for your friends, and all your children died before the year ended in a fire outbreak that also burnt down your house and properties, will you still go ahead to throw the party, simply because you decided to do so long before your losses?

“It is only a fool who doesn’t change his mind and I am surprised the call for support for the construction of a new BoG Headquarters is coming from a whole Finance Minister who has been embattled for being incompetent in handling our economy and finances,” the Political Science lecturer said in a post on Facebook.