Which African central bank was established in 1957 as Ghana’s monetary authority?

The Bank of Ghana was established in 1957 as Ghana’s monetary authority.

The bank was created in the year Ghana became independent from British colonial rule. Its formation gave the new country a national institution responsible for currency, monetary policy, and the management of banking activities.

The Bank of Ghana issues Ghana’s currency, the cedi, regulates banks and other financial institutions, manages foreign reserves, and works to maintain price and financial stability. Its headquarters are in Accra.

The bank is not the same as Ghana Commercial Bank, which is a commercial institution serving customers and businesses. The Bank of Ghana’s role is regulatory and monetary, similar to that of other national central banks.