The CEO of the Ghana Association of Banks, John Awuah, says the effective implementation of the new Ghana GoldBod has the potential to help stabilise the local currency.
Speaking on Joy News' PM Express Business Edition on last Thursday, he said Ghana is losing billions of dollars in unaccounted gold exports every year.
He believes plugging those leaks through a disciplined and transparent GoldBod regime could be a game-changer for the Cedi. "There are things that are happening now, which, in my view, if we continue to forcefully implement what we say we are going to do, will help us to better manage the currency," he said.
He cited a shocking example from recent years. "We were in this country when Dubai said they had imported $6 billion worth of gold from Ghana.
