Bank of Ghana's chief retires early

Bank of Ghana's embattled governor Kofi Wampah is stepping down at the end of this month, four months before his term was due to end.

The announcement became the story of the day for the media in Ghana, where I work these days at the very Bank of Ghana.

Bloomberg reported on Wampah's departure, amid public pressure due to an ongoing microfinance crisis:

Wampah's "unexpected" retirement is an example of poor communication with the market, said Godfred Bokpin, head of the finance department at University of Ghana’s business school. "Timing of the governor’s exit does not auger well for market predictability."

I had the chance to meet the outgoing governor personally during my previous stay in Accra in November last year and it is clear that enhancing the Bank of Ghana's communications with the public is one of the tasks that remain unfulfilled.