The Importers and Exporters Association of Ghana has called on the Ghana Gold Board (Goldbod) to remain resolute in its mandate to support the appreciation of the Ghanaian cedi through strategic interventions in the gold trade.
The call was made during a courtesy visit to the Chief Executive Officer of GoldBod, Mr. Sammy Gyamfi, as the association officially congratulated him on his appointment.
The delegation, led by Executive Secretary Mr. Samson Asaki Awingobit, emphasized the critical role GoldBod must continue to play in protecting Ghana’s currency and boosting macroeconomic confidence.
“We see your appointment as a bold step towards a more structured and productive gold value chain in Ghana.
“We are also confident that your leadership at Goldbod will further strengthen the fight to stabilize the Ghanaian currency.”
Mr. Samson Asaki Awingobit, Executive Secretary of Importers and Exporters Association of Ghana
According to Mr. Awingobit, the recent rebound of the cedi is an encouraging sign of Ghana’s economic potential, and he believes that Goldbod’s activities will be pivotal in sustaining that momentum.
Mr. Awingobit noted that importers and exporters are among the first to feel the impact of currency fluctuations.
The appreciation of the cedi in recent weeks, he explained, has offered considerable relief to businesses burdened by high exchange rates.
“We know the pressure that the cedi faces, especially from import demands and external shocks.
“But when institutions like GoldBod are empowered and led well, the effects are seen in real-time at the ports and across our operations,”
Mr. Samson Asaki Awingobit, Executive Secretary of Importers and Exporters Association of Ghana
Mr. Awingobit added. “We urge GoldBod to remain committed to this national mission.”
Commitment to Strengthening the Cedi
In response, Mr. Sammy Gyamfi expressed gratitude for the association’s support and reaffirmed GoldBod’s commitment to implementing robust strategies aimed at ensuring long-term currency stability.
“We appreciate the recognition and look forward to scaling up our interventions to sustain the cedi’s appreciation.
“GoldBod’s approach will continue to align with government economic policies to reinforce Ghana’s macroeconomic stability.”
Mr. Sammy Gyamfi, Chief Executive Officer of GoldBod
Goldbod has adopted policies focused on gold-backed initiatives, reducing external shocks and speculative pressures on the currency market.
The agency aims to further expand gold reserves accumulation, ensuring stronger backing for the cedi.
The Importers and Exporters Association of Ghana emphasized that structural reforms in the gold trading framework can further stabilize the currency while ensuring that Ghana maximizes the full potential of its natural resources.
Experts highlight gold-backed investment models as a proven mechanism for strengthening currency stability. By anchoring monetary value to a tangible commodity like gold, speculative currency fluctuations can be reduced, improving overall investor confidence.
GoldBod, under Mr. Gyamfi’s leadership, is expected to scale up its operations by introducing innovative financing models that enhance Ghana’s ability to capitalize on its gold wealth while ensuring the long-term appreciation of the cedi.
As Ghana continues to refine its gold-backed economic strategy, stakeholders have expressed optimism that Goldbod’s initiatives will provide stronger monetary stability and ensure a resilient financial system in the coming years.
Mr. Gyamfi reaffirmed that GoldBod will remain transparent and committed to ensuring sound economic policies that foster financial sustainability for Ghana.
With global trends indicating strong demand for gold-backed currencies, Ghana is well-positioned to leverage its rich mineral resources for economic transformation and enhanced fiscal discipline.
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