By Jibril Abdul Mumuni
Accra, May 3, GNA – Mr Joe Jackson, Chief Executive Officer of Dalex Finance, has called for improved efficiency in Ghana’s gold trading operations to minimise losses and strengthen investor confidence in the programme.
He said although gold trading remained a key tool in supporting currency and financial stability, efforts must be intensified to reduce operational inefficiencies and associated losses.
Mr Jackson made the call on a political talk show monitored by the Ghana News Agency (GNA).
He noted that while some reduction in losses had been recorded over time, their persistence continued to raise concerns about the efficiency of the operations.
Mr Jackson explained that the involvement of the central bank in gold trading was not purely commercial, as its mandate extended beyond profit-making to safeguarding macroeconomic stability.
“Once you accept that the Bank of Ghana is not a commercial entity, then naturally certain costs may arise, but efficiency must remain a key consideration,” he said.
Mr Jackson said given the scale of the programme, it was important to ensure that losses remained within reasonable limits relative to the volume of gold traded.
He observed that although public officials had attributed some of the losses to exchange rate movements, there was still the need to improve operational efficiency.
Mr Jackson underscored the need for continuous assessment of the programme to ensure that its broader economic benefits, including currency stability, reduced gold smuggling and value retention, were not undermined by avoidable inefficiencies.
He commended authorities for engaging the public on the issue, noting that transparency was essential in deepening understanding of complex economic policies.
Mr Jackson called for balanced and evidence-based discussions on the gold trading programme, taking into account both its costs and wider economic benefits, while sustaining efforts to improve performance.
He urged policymakers to implement measures to further reduce losses and enhance confidence in the management of the gold trading initiative.
GNA
Edited by Kenneth Sackey