Importers and Exporters Association Applauds GoldBod and Bank of Ghana for Enhancing Forex Stability
The Importers and Exporters Association of Ghana (IEAG) has lauded the Ghana Gold Board (GoldBod) and the Bank of Ghana (BoG) for their significant roles in stabilising the country’s foreign exchange market and promoting economic resilience. At a press conference, IEAG Executive Director Samson Asaki Awingobit highlighted the benefits that a steady foreign exchange environment brings to Ghana’s business community. He explained that the recent stability in the forex market had made it easier for importers and exporters to plan ahead, manage risks, and engage in international trade with greater certainty. Awingobit credited GoldBod’s trading policies for bolstering Ghana’s foreign exchange reserves and improving legitimate businesses’ access to hard currency. He also praised the Bank of Ghana for its commitment to macroeconomic and financial stability, singling out the recent reduction in interest rates as a welcome relief for businesses that rely on credit to fund their operations. Quoting the Bank of Ghana’s Financial Stability Review, Awingobit noted that the average lending rate fell from 30.3 percent in December 2024 to 20.5 percent by the end of 2025, a development he described as a “major boost” for importers and exporters in need of working capital. He urged both GoldBod and the BoG to maintain and expand their efforts to sustain foreign exchange stability and lower borrowing costs, particularly as the festive season approaches, a time when demand for foreign currency, credit, and imported goods typically rises. The IEAG emphasised that ongoing monetary and regulatory support would be critical in helping businesses navigate seasonal trade pressures and foster long-term economic growth. Source: Apexnewsgh.com
Mahama Urges Swift Action on AU Peace Fund for Sustainable Conflict Response
Former President John Dramani Mahama has called for urgent action to speed up the African Union Peace Fund’s resource mobilisation strategy, emphasizing the need for the effective implementation of the 0.2% import levy. According to President Mahama, this is crucial to securing sustainable and predictable financing for Africa’s peace and security initiatives. He made the call while addressing the 21st Extraordinary Session of the AU Assembly of Heads of State and Government on Sunday, August 30. President Mahama highlighted the persistent and evolving nature of conflicts across the continent, noting that these challenges demand stronger enforcement of existing peace and security mechanisms. “The effectiveness of our peace architecture will depend not only on better coordination but also on reliable and predictable resources to support timely interventions,” President Mahama stated. He underscored that early warning systems must be matched by early action, which in turn requires that resources be available when needed. President Mahama welcomed the progress made in operationalising the AU Peace Fund and reaffirmed his support for its continued capitalisation towards the $1 billion target. He also advocated for greater resource mobilisation from within Africa, including financial institutions, the private sector, and other indigenous sources, to reduce dependence on external funding and enhance the continent’s capacity to manage conflicts. With his remarks, President Mahama urged African leaders to prioritise the Peace Fund’s full implementation to strengthen Africa’s ability to respond to security challenges on its own terms. Source: Apexnewsgh.com