The Minister of Finance, Dr Cassiel Ato Baah Forson, has inaugurated a 13-member Board of Directors for the Ghana Gold Board (GoldBoD), describing it as a public body tasked with supporting currency stability and strengthening Ghana’s economic foundations.
At the swearing in ceremony, Dr Forson commended the new members on behalf of President John Dramani Mahama.
He expressed confidence in their ability to carry out the functions of the Board as set out in its establishing legislation.
He pointed to recent trends in the local currency’s performance.
“As of May 13, 2025, the Ghana cedi had strengthened by 16.7 per cent against the US dollar since the beginning of the year. This is in contrast to the 13.4 per cent depreciation recorded over the same period in 2024. The cedi was also ranked as the best-performing currency in April 2025,” he said.
He attributed the turnaround to improved coordination of fiscal and monetary policy, higher inflows from gold, cocoa and remittances, and stricter controls on public spending.
He also mentioned that Ghana’s foreign exchange reserves had surpassed targets agreed under the IMF programme, which in his view supported the sustainability of the cedi’s gains.
In his remarks, the Chairperson of the Board, Mr Kojo Fynn, said the board would carry out its duties with a sense of responsibility and fairness.
He said the members were fully aware of the role they had been entrusted with and pledged that the Board would uphold sound governance standards and engage all relevant parties in the discharge of its mandate.
The full list of members is as follows:
- Mr Kojo Fynn – Chairperson
- Mr Samuel Gyamfi – Acting CEO of the Gold Board and member
- Emmanuel Armah Kofi Buah – Minister for Lands and Natural Resources and member
- Thomas Nyarko Ampem – Deputy Minister for Finance and member
- Dr Johnson Asiama – Governor, Bank of Ghana and member
- Mr Nelson Ahedor – Representative of the Minerals Commission
- Mr Christopher Opoku Nyarko – Representative of the Ghana Chamber of Mines
- Mr Godwin Nichelson Armah – Representative of the Ghana Small Scale Miners Association
- Mr Kwaku Effah Asuahene – Representative of the Chamber of Bullion Traders
- Shaibu Mahama – Member of Parliament for Daboya/Mankarigu and the President’s nominee
- Abdul Baasit Aziz-Bamba – Senior Lecturer at the University of Ghana School of Law and the President’s nominee
- Marrietta Brew Appiah-Oppong – Legal Counsel to the President and nominee
- Nana Ama Amissah III – Paramount Queen Mother of the Mankessim Traditional Area and nominee
