Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has credited the government’s GoldBod initiative for playing a crucial role in stabilising the cedi in recent months.
Speaking at the swearing of the Board Members of the Ghana Gold Board in Accra on Monday, the minister said the GoldBod have been effective in reducing the pressure on Ghana’s foreign exchange reserves and curbing volatility in the currency market.
The GoldBod established under the Ghana Gold Board Act, (ACT 1140) 2025. The Ghana Gold Board (GoldBod) is the sole authority with exclusive right to buy, sell, weigh, grade, assay, value and export gold and other precious minerals in Ghana. The Ghana Gold Board functions under the oversight and supervision of the Ministry of Finance of the Republic of Ghana.
According to the minister, the intervention has not only enhanced confidence in the Ghanaian economy but has also provided a buffer against external shocks, including rising global commodity prices.
Analysts say the programme’s success could serve as a model for other resource-rich African economies seeking to insulate their currencies from global market disruptions.
