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According to Togbe Afede XIV, the BoG expended an amount of GH₵1.62 billion (£147.27 million at the 2022 average cedi-pound exchange rate) on its 2,203 employees. Drawing a comparison with the Bank of England (BoE), he highlighted that while BoG pays £66,851 per employee, BoE pays significantly more at £95,829 per employee.
The disparity in salaries is further accentuated by the fact that BoG employees, unlike their BoE counterparts, owe the bank an average of GH₵566,046 (£51,459) per employee as of the end of 2022.
Togbe Afede XIV underscored the substantial personnel costs incurred by the BoG in 2022, amounting to GH₵1.62 billion with an average remuneration of GH₵735,361 per employee or GH₵61,280 monthly per employee, including various allowances, the salaries at BoG are notably high.
Additionally, employees also carry staff loans totaling GH₵1.247 billion, averaging GH₵566,046 per employee.
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