Ernestina Mensah, Head, Market Risk, Bank of Africa Ghana Ltd
The Bank of Ghana's Ghana Gold Coin initiative aims to provide a secure, gold-backed investment for Ghanaians, reducing reliance on foreign currencies like the U.S. dollar and curbing inflation.
Available in various denominations, it reflects global gold prices and offers stability compared to volatile currencies.
Inspired by global successes in Turkey, India, China, and Russia, the initiative could stabilize the economy and promote financial inclusion.
However, challenges such as public trust, liquidity, and accessibility must be addressed to ensure success.
Recommendations include public education, ensuring liquidity, price guarantees, and making the coins accessible to all income levels.
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