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Bank of Ghana Building: For the first time, government is able to build at a far lower cost than the private sector – Martin Kpebu – The Ghanaian Standard

August 14, 2023
Bank of Ghana Building: For the first time, government is able to build at a far lower cost than the private sector - Martin Kpebu - The Ghanaian Standard: Ghana News

Private legal practitioner Martin Kpebu has provided an alternative perspective on the cost of the 's (BoG) new headquarters construction, asserting that it is more economical than past private sector projects.

Kpebu said, “For the first time, government [BoG] can build at a far lower cost than the private sector.”

The new BoG headquarters project, projected to cost $250 million, was undertaken due to the structural integrity issues of the current office built in the 1960s.

The Minority in has raised concerns over the construction costs, particularly considering the bank's recent financial loss and the ongoing economic challenges.

However, Kpebu applauded the government's cost-effective approach and highlighted a comparison with industry averages, stating, “This particular building is far cheaper not exceeding 2,200 dollars per square meter.”

He emphasized that despite economic challenges, the construction of essential infrastructure such as buildings and roads can stimulate the economy.

While Kpebu supported the project's cost-effectiveness, he also expressed concern over the government's borrowing practices. He echoed calls for the resignation of BoG's Governor, Dr. , and his deputies due to mismanagement within the central bank.

Private legal practitioner Martin Kpebu has provided an alternative perspective on the cost of the Bank of Ghana's (BoG) new headquarters construction, asserting that it is more economical than past private sector projects.

Kpebu shared his insights on JoyNews' Newsfile, stating, “For the first time, government [BoG] can build at a far lower cost than the private sector.”

The new BoG headquarters project, projected to cost $250 million, was undertaken due to the structural integrity issues of the current office built in the 1960s.

The Minority in Parliament has raised concerns over the construction costs, particularly considering the bank's recent financial loss and the ongoing economic challenges.

However, Kpebu applauded the government's cost-effective approach and highlighted a comparison with industry averages, stating, “This particular building is far cheaper not exceeding 2,200 dollars per square meter.”

He emphasized that despite economic challenges, the construction of essential infrastructure such as buildings and roads can stimulate the economy.

While Kpebu supported the project's cost-effectiveness, he also expressed concern over the government's borrowing practices. He echoed calls for the resignation of BoG's Governor, Dr. Ernest Addison, and his deputies due to mismanagement within the central bank.

Private legal practitioner Martin Kpebu has provided an alternative perspective on the cost of the Bank of Ghana's (BoG) new headquarters construction, asserting that it is more economical than past private sector projects.

Kpebu said, “For the first time, government [BoG] can build at a far lower cost than the private sector.”

The new BoG headquarters project, projected to cost $250 million, was undertaken due to the structural integrity issues of the current office built in the 1960s.

The Minority in Parliament has raised concerns over the construction costs, particularly considering the bank's recent financial loss and the ongoing economic challenges.

However, Kpebu applauded the government's cost-effective approach and highlighted a comparison with industry averages, stating, “This particular building is far cheaper not exceeding 2,200 dollars per square meter.”

He emphasized that despite economic challenges, the construction of essential infrastructure such as buildings and roads can stimulate the economy.

While Kpebu supported the project's cost-effectiveness, he also expressed concern over the government's borrowing practices and echoed calls for the resignation of BoG's Governor, Dr. Ernest Addison, and his deputies due to mismanagement within the central bank. 

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