GoldBod is filling critical gap in Ghana’s Forex market – Ekumfi MP

Kwainoe Ekow Othniel, the MP for Ekumfi, praised the Ghana Gold Board (GoldBod). He called its contributions to the foreign exchange market “long overdue” and “transformational.”

In an interview on Channel One Newsroom, he highlighted GoldBod's impact. The board has sold about $2.7 billion worth of gold in just four months. Othniel described this achievement as unprecedented.

He noted that GoldBod is filling a crucial role for Ghana. This role has been missing for a long time. It will help accumulate foreign exchange reserves.

Othniel stressed the importance of these interventions for economic stability. Access to foreign exchange affects importers, manufacturers, and traders directly.

He said selling $2.7 billion in four months shows significant market intervention. This ensures that traders can easily access foreign exchange when needed.

Prof. Bokpin also mentioned that the NPP deserves credit for cedi stability.