The Bank of Ghana (BoG) has announced plans to establish a dedicated subsidiary to manage idle assets, underutilised real estate and other state properties under its control, as part of broader efforts to improve efficiency and unlock value from dormant resources.

The decision follows a comprehensive review of the central bank’s asset base, which revealed numerous underused properties across the country. These include vacant staff bungalows, parcels of land, abandoned projects and facilities, as well as properties acquired during the financial sector clean-up that have remained unused for several years.

Speaking at the Bank of Ghana’s Annual Nine Lessons, Carols and Thanksgiving Service at Bank Square in Accra on December 19, Governor Dr Johnson Pandit Asiama said the situation represented significant wasted economic value at a time when the institution was focused on strengthening its balance sheet and operational effectiveness.

“We have lots of real estate spread across the country, including staff bungalows that are empty. These are wasted resources,” he stated.

Assets from financial sector clean-up

Dr Asiama explained that the proposed subsidiary would also be responsible for managing lands and properties secured through the financial sector clean-up exercise. He noted that several collapsed microfinance institutions had accepted land as collateral from borrowers, and these assets reverted to the state following liquidation.

According to him, many of the properties are dispersed across the country and lack proper documentation, making them difficult to manage, secure or develop.

“As those institutions went down, we became responsible for those lands, which are scattered across the country without proper documentation, and we must now make effective use of them,” he said.

He added that the creation of a dedicated entity would allow the Bank of Ghana to properly document, secure and enhance the value of these assets.

New subsidiary to drive efficiency

Dr Asiama said the subsidiary would work closely with the Bank’s estate and projects department to trace, consolidate and develop the assets into viable investments.

He explained that the objective goes beyond asset ownership to value creation through structured management, redevelopment and strategic use of properties under the Bank’s control.

“This is not just about holding assets, but ensuring they contribute meaningfully to the Bank’s sustainability rather than remaining dormant,” he said.

The Governor stressed that the initiative forms part of wider reforms aimed at strengthening the institution following the economic challenges of recent years.

“We will pursue all these assets and enhance their value, which is why the new subsidiary is being established. This will support the Bank’s long-term financial resilience,” he added.

Broader institutional reforms

Dr Asiama said the move aligns with ongoing reforms designed to restore confidence, strengthen governance and improve operational effectiveness after the 2022 economic crisis.

He noted that the Bank has spent the past year stabilising the macroeconomic environment, reinforcing policy credibility and preventing further instability.

According to him, disciplined decision-making and sound judgement under pressure have helped the institution steadily restore stability.

The Governor said the asset management subsidiary represents another step towards ensuring the Bank remains focused on its core mandate while making better use of available resources.

“This is only the beginning. Progress has been made, but we must continue to take responsible decisions that strengthen the institution,” he said.

Transparency and accountability

Dr Asiama said the initiative would also enhance transparency and accountability in the management of public assets under the Bank’s control, ensuring clear records, professional oversight and strict governance structures.

He stressed that the subsidiary would operate under robust governance frameworks to prevent misuse and protect public value.

“Our aim is to ensure that every asset entrusted to the Bank of Ghana works for the institution and, ultimately, for the Ghanaian economy,” he said.