Forex gains must power jobs, exports and economic transformation — Dr. Asiama

The Governor of the Bank of Ghana, Dr. Johnson Asiama, says Ghana must urgently convert recent foreign exchange stability into real economic transformation that empowers businesses and creates jobs.

Speaking at the Graphic Business/Stanbic Bank Breakfast Meeting in Accra on Tuesday, Dr. Asiama outlined four key priorities for leveraging forex gains: boosting local retention of forex earnings, diversifying exports, improving FX market efficiency, and reinforcing the dominance of the cedi.

“It is not enough to stabilise the cedi. The real measure of success is whether we can translate forex stability into broad-based economic transformation,” he said.

He urged exporters to be incentivised—rather than forced—to reinvest their earnings in Ghana through tax relief, credit access and procurement preferences.

Dr. Asiama also called for increased investment in non-traditional exports and value-added sectors such as IT, education, and the creative industries.

He emphasised that sustainable growth required stronger partnerships between the Bank of Ghana and the private sector.

“Let us use this moment to forge a collective strategy for Ghana’s foreign exchange future—one built on credibility, capacity, and courage,” he concluded.