The Swiss State Secretary for Economic Affairs (SECO) funds Chumo’s appointment.
A Bank of Ghana press release titled “TThe deployment of advisers is a continuation of cooperation in this area between the Bank of Ghana, the IMF and SECO, which began in 2015 and has already seen the deployment of previous advisers up to 2018..”
The Bank of Ghana is of the view that the former consultants have contributed to certain achievements that make the current assignment outstanding.
A Bank of Ghana press release stated that the previous advisers “Cooperative efforts include the Banks and Special Deposit Taking Institutions Act, 2016 (Act 930), the Development and Distribution of Corporate Governance Directive 2018 and the Capital Requirements Directive 2018..”
Mr. Chumo brings first-hand knowledge of supervisory work from major central banks and previous technical assistance experience in the West Africa region.
Mr. Chumo commenced his assignment at the Bank of Ghana on 6 February 2023 and is expected to remain for three years.
Among others, they support the implementation of Pillar 2 and 3 of the Basel II/III capital frameworks, as well as strengthening the risk-based supervisory framework at the Bank of Ghana.
Read BoG’s full statement below: