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The Bank of Ghana spent GH¢206 million on official travel in 2024, twice the GH¢103 million recorded in 2023.

This is according to its 2024 Annual Report, released on Monday, July 7, 2025, and sighted by GhanaWeb Business.

The figure marks the highest amount the central bank has spent on travel in at least a decade.

The disclosure comes amid ongoing public scrutiny over government spending, particularly as the Bank posted a GH¢9.4 billion loss for 2024.

While this represents an improvement from the GH¢13.2 billion loss recorded in 2023, the sharp rise in travel expenses has raised concerns about fiscal discipline.

According to the report, travel spending by the Bank has fluctuated over the years, rising from GH¢30 million in 2015 to GH¢48 million in 2019.

It dropped to GH¢20 million in 2020 and GH¢28 million in 2021 due to COVID-19 restrictions, before increasing to GH¢76 million in 2022, and peaking at GH¢206 million in 2024.

While the Bank has not provided detailed reasons behind the 2024 figure, analysts suggest that Ghana’s participation in the IMF programme may be a contributing factor.

Frequent international engagements, including trips to Washington, D.C. and other global financial centres, are believed to have added significantly to the cost.

SP/MA

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