The Bank of Ghana has concluded its staff review exercise for personnel recruited in December 2024, resulting in the non-confirmation of appointments for a fraction of the new recruits.
This decision follows a rigorous evaluation process conducted by the Bank’s Human Resource and Capacity Development Department.
According to sources close to the Bank, the assessment was based on performance outcomes, alignment with the Bank’s core values, and the potential contribution to its strategic objectives. Approximately 97 individuals did not have their appointments confirmed after the six-month probation period, while more than half of the recruits successfully passed the assessment and had their appointments confirmed.
The Bank of Ghana emphasized that this exercise is a routine part of its commitment to maintaining a high-performance work environment and is not targeted at any individual. The terms of recruitment, which included a six-month probation subject to satisfactory performance, were clearly stated in the employment contracts of all new staff.
Affected employees have been notified through official letters dated 19 June 2025, informing them of the decision and advising them to return all institutional property by the effective termination date of 23 June 2025. Those whose contracts were not confirmed will receive one month’s salary in lieu of notice.
This staff review aligns with the Bank’s broader human capital strategy aimed at enhancing financial and operational stability. The Bank also reiterated its commitment to fairness, transparency, and due process in all employment matters.
The Bank of Ghana’s 2024 accounts revealed an increase in personnel costs from GH¢2.3 billion in 2023 to GH¢2.9 billion in 2024, reflecting ongoing investments in staff and institutional capacity.
This exercise is part of the Central Bank’s ongoing reforms to strengthen institutional standards and ensure the effective delivery of its mandate to promote financial stability in Ghana.
