A leading member of the New Patriotic Party (NPP), Gabby Asare Otchere-DarkoA leading member of the New Patriotic Party (NPP), Gabby Asare Otchere-Darko, has attributed the recent gains of the Ghana cedi to the Gold-for-Forex policy championed by former Vice President Dr Mahamudu Bawumia.
The founder of the Danquah Institute described it as a model being adopted by other African countries Namibia.
In a social media post on Saturday, May 17, Mr Otchere-Darko praised the policy’s impact on Ghana’s currency stability and called for national unity in supporting measures that strengthen the economy.
“Today, the Bawumia Formula of Gold for Forex has become the gold standard, so to speak. Other gold-producing African nations, including recently Namibia, are adopting it,” he wrote.
His comments come at a time when the cedi has shown signs of recovery after a long period of depreciation, trading at a buying rate of GHS12.21 to the dollar and a selling rate of GHS13.00 as of Saturday, May 17, 2025, according to Cedirates.com.
Mr Otchere-Darko recounted how he was previously criticised for highlighting gains in the Cedi in the lead up to the 2024 general elections.
“I am delighted to see the cedi regaining strength against the dollar and long may it continue. We pray that it is not just temporary,” he noted.
He also urged political actors to rise above partisanship and focus on solutions that benefit the country, rather than seeking failure as a strategy for political gain.
