Amid public debates about financial responsibility and Ghana’s mineral wealth—sparked by the recent controversy surrounding Sammy Gyamfi’s viral dollar-spending video—banking consultant Richmond Atuahene has offered a broader economic perspective.
Speaking on Asaase Radio, he explained that the recent stability of the Ghanaian Cedi is not a coincidence, but rather the result of global shifts and local economic advantages.
“At the beginning of the year, you know, the President of the United States, Donald Trump, made some decisions. Decisions like breaching the World Trade Organisation by imposing new tariffs. And because dollar had been the base currency, everybody, most countries were saving a base currency, which is the dollar,” Atuahene said.
He explained that the U.S. policy shift pushed many global economies to redirect their trust and investment toward gold.
“But immediately with his pronouncement, people began to switch to gold. So the dollar began to depreciate and then the gold has appreciated so much over the last four months,” he added.
Atuahene noted that this pivot has had significant consequences for Ghana. “Gold prices have appreciated from US$2,340 to US$3,240 per ounce, and cocoa has jumped from US$4,800 to nearly US$9,000 per ton. These are major gains for Ghana.”
His remarks arrive at a time when the management of Ghana’s gold revenue is under scrutiny following a viral video of Ghana Gold Board’s Acting CEO, Sammy Gyamfi, handing out fresh dollar bills to Evangelist Patricia Oduro Koranteng, also known as Agradaa.
Critics, including Lawyer Maurice Ampaw, have questioned how Gyamfi funds his flashy lifestyle and whether it reflects responsible stewardship of Ghana’s gold resources.
