A leading gold miner and businessman, Alhaji Sulemana Alhassan Atakpo of Suul-Mak Ltd, has lauded the government for introducing the Gold-for-Reserves (Goldbod) programme, describing it as a groundbreaking economic policy that has helped stabilise the Ghana cedi.

According to him, the initiative has reduced Ghana’s dependence on the U.S. dollar for critical imports and proven that the nation’s natural resources can be effectively leveraged to strengthen the economy.

“As a miner and businessman, I can confidently say the Goldbod initiative is one of the smartest economic strategies we have seen in decades,” Alhaji Atakpo noted.

“By using our own gold to back reserves, the government has shielded the cedi from extreme depreciation and shown that Ghana can rely on its resources for stability.”

He further commended the Chief Executive Officer of Goldbod for his “visionary and practical” leadership in ensuring the success of the programme.

Alhaji Atakpo also expressed appreciation to President John Dramani Mahama, crediting his leadership and policy direction for laying the groundwork for bold economic reforms such as Goldbod.

“We thank President Mahama for his vision for the mining sector, which continues to benefit the nation today,” he said.

However, the gold dealer cautioned that gold smuggling remains a major threat to the sustainability of the initiative.

He warned that the current pricing structure, ranging from GHC 100 to GHC 800 per gram, is not competitive compared to international market prices.

“If pricing is not reviewed to reflect fair international value, the temptation to smuggle will grow—and that could destabilise the cedi very badly,” he stressed.

Alhaji Atakpo, therefore, urged the Ministry of Finance, the Bank of Ghana, and the Minerals Commission to collaborate with stakeholders to review the pricing mechanism and create incentives that will keep miners and traders within official channels.

“Goldbod is a visionary policy, and we, as miners, are ready to support it.

But government must ensure a fair pricing structure so that confidence in the system is maintained,” he concluded.