The Bank of Ghana has directed the Architectural and Engineering Services Limited to conduct a value for money audit into the new central bank headquarters in Accra at Ridge.
This was revealed in an address to the Parliament of Ghana by Governor of the Bank of Ghana Dr. Johnson Asiama.
In his presentation, Dr. Asiama explained that the quest for a new Bank of Ghana headquarters can be traced to the 1990’s when management at the time found a need to identify a new location for the headquarters due to the expansion of the central business district.
Outlining a chronology of events leading to the construction, Dr. Asiama explained that the search for a new office intensified in 2011 when ‘the existing head office became pronounced with more structural cracks showing on the building and portions of the structural finishes falling off.’
In furtherance of this, the Bank of Ghana in 2019 through a compulsory acquisition secured the land previously belonging to state insurance company.
Dr. Asiama then explained that the Bank awarded the contract to Messers Goldkey Properties limited at a contract price of $121,078,517.94 after undergoing the necessary tendering and procurement approval processes.The project according to the governor currently consists of ‘three main blocks namely the tower, urban and amenities blocks with basements, podiums and ancillary amenities.’
He explained further that the construction cost increased to $222,799,760.599 due to reviews approved to the structure.
So far the contractors have been paid $202,050,518.68 with $20,749,241.90 outstanding.
But in other to clarify issues surrounding the construction of the edifice, Dr. Asiamah explained that the Architecture and Engineering Services Limited have been tasked to conduct a value of money audit into the project.
