The Importers and Exporters Association of Ghana is rallying behind the Ghana Gold Board (Goldbod) to intensify its role in anchoring the cedi’s strength, as the local currency battles volatility amid global and domestic headwinds.
During a courtesy call on Goldbod’s newly appointed Chief Executive Officer, Mr. Sammy Gyamfi, the Association extended congratulations and urged the agency to sustain and strengthen its strategic interventions aimed at enhancing the cedi’s value against major international currencies.
Speaking on behalf of the Association, Executive Secretary Mr. Samson Asaki Awingobit praised Mr. Gyamfi’s elevation, describing it as a recognition of his “expertise, leadership qualities, and track record in the sector.”
Awingobit voiced confidence in the new CEO’s capacity to deepen Goldbod’s impact, especially in using Ghana’s gold resources as a macroeconomic lever to stabilize the local currency and support national fiscal health.
“We are optimistic that under Mr. Gyamfi’s leadership, Goldbod will witness significant progress and play an even more impactful role in stabilizing the country’s currency through gold-related initiatives,” he stated.
The Gold for Oil and Gold for Reserves initiatives two flagship programs aimed at leveraging Ghana’s gold output to reduce pressure on foreign exchange reserves have been instrumental in recent currency stability efforts. Businesses, particularly importers, see Goldbod’s interventions as critical to controlling inflation and preserving trade competitiveness.
In his remarks, Mr. Gyamfi expressed gratitude for the association’s visit and pledged to remain focused on delivering results that matter for the economy.
He affirmed, “Goldbod is committed to implementing robust strategies aimed at supporting the local currency. The continued operations and interventions by Goldbod, particularly, will contribute significantly to sustaining the cedi’s appreciation and strengthening Ghana’s macroeconomic stability.”
As the country navigates complex economic challenges, stakeholders are increasingly looking to gold-backed monetary tools as a hedge against external shocks. Goldbod’s evolving mandate, now under fresh leadership, could prove pivotal in safeguarding the cedi’s value and restoring broader investor confidence.
