The Asantehene, Otumfuo Osei Tutu II, has expressed deep concern over Ghana’s continued dependence on imported food items that can be cultivated locally.

He urged the Minister for Food and Agriculture, Eric Opoku, to take bold steps to significantly reduce food imports and prioritize the development of local agriculture.

Speaking during a courtesy call by the Minister and his delegation at the Manhyia Palace on Friday, June 13, Otumfuo Osei Tutu II emphasized the need for urgent interventions to rekindle interest in farming, particularly among the youth.

The Asantehene recommended a possible revival of the historic “Operation Feed Yourself” initiative from the Acheampong era, should the government deem it necessary to revitalize the agricultural sector.

“It’s disheartening that we are still importing basic produce like tomatoes and onions. Work hard to halt or at least minimize food imports so we can produce more locally. I’ll be monitoring closely—make sure farmers get irrigation support,” he stressed.

Otumfuo also called on chiefs and traditional leaders across the country to contribute to national development by making land available for agricultural use, suggesting such lands could be offered as equity in farming ventures to encourage investment and productivity.

The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has pledged that the newly formed agency will restore order and transparency to Ghana’s gold trade by curbing smuggling and streamlining operations.

Speaking on Channel One TV’s The Point of View during the Mining in Motion Summit on Monday, June 9, Gyamfi noted that extensive consultations with stakeholders showed overwhelming support for a single, central body to regulate the sector—long plagued by disorganization and regulatory gaps.

“All the patriotic Ghanaians we engaged, along with various civil society organizations, viewed the creation of GoldBod as a necessary and urgent intervention to clean up the mess,” Gyamfi said.

He explained that prior to the establishment of GoldBod, multiple state institutions were independently purchasing gold without proper coordination—creating loopholes that enabled rampant smuggling.

“With GoldBod now in place, we have one central agency regulating the sector, issuing licenses to all players, and enforcing a unified code of conduct covering responsible sourcing and legal exports,” he stated.

Gyamfi emphasized that this centralized and structured approach will not only tackle irregularities but also ensure Ghana maximizes its foreign exchange earnings from gold exports—vital for national development.

“This new system guarantees that the country receives the much-needed forex and revenue tied to gold exports, which is crucial for our economic progress,” he noted.

GoldBod was officially established under the GoldBod Act, 2025 (Act 1140), as a key part of the government’s broader strategy to curb illegal gold trading and strengthen Ghana’s foreign reserves.

The Governor of the Bank of Ghana, Dr. Johnson Asiamah, has refuted claims that the Central Bank is deliberately manipulating the exchange rate to drive the recent appreciation of the Cedi.

The local currency has recorded significant gains in recent weeks, sparking speculation that the Central Bank may be employing artificial measures to influence its value.

Speaking at the Ghana CEO Summit held in Accra on Monday, May 26, 2025, Dr. Asiamah attributed the Cedi’s performance to sound macroeconomic fundamentals.

“Our Cedi has appreciated by 24.1% against the US dollar. Let me emphasise that the Central Bank is not using international reserves to prop up the Cedi, nor are we engineering an unsustainable appreciation,” he said.

According to Dr. Asiamah, the Cedi’s strength is underpinned by disciplined monetary policy, targeted foreign exchange reforms, improved remittance flows, and enhanced market surveillance.

“These are not short-term interventions—they are deliberate, structural changes aimed at ensuring long-term stability,” he added.

Source: Citi Newsroom