New Patriotic Party (NPP) stalwart Gabby Asare Otchere-Darko has publicly commended the ongoing strengthening of the Ghanaian cedi, emphasizing the positive effects of the so-called “Bawumia Formula,” which connects gold revenues to foreign exchange reserves.
In a post on his X (formerly Twitter) profile, Otchere-Darko recalled the early skepticism he faced when regularly reporting the cedi’s recovery trend prior to the December 7 elections, a time when many focused on the currency’s previous decline.
“Long may the trend of a stronger cedi continue. I recall when I started posting daily the strengthening trend of the cedi before Dec 7, I was criticised for reminding Ghanaians rather of the bad state of the cedi and had to delete some!” he wrote, reflecting on the initial resistance to his economic optimism.
He emphasized that the economic approach championed by former Vice President Dr. Mahamudu Bawumia—leveraging gold exports to bolster Ghana’s forex reserves—has become a model for other African gold-producing nations, including Namibia. Otchere-Darko expressed hope that this currency strength is sustainable and beneficial for the broader economy.
“Today, the Bawumia Formula of Gold for Forex has become the gold standard, so to speak. Other gold producing African nations, including recently Namibia, are adopting it. I am delighted to see the cedi regaining strength against the dollar and long may it continue,” he said.
Beyond economic commentary, Otchere-Darko urged Ghanaians to move away from political rivalry rooted in wishing failure on opponents. Instead, he called for a healthier competition where leaders strive to outperform each other for the nation’s benefit.
“Let us get to the stage where we elevate our political competition to not praying for your failure as the only route to my success, but where I can show that I can do better than your best. In the end, Ghana wins. The people win,” he concluded.
