Finance and economic policy analyst Senyo Hosi has attributed Ghana’s currency appreciation in 2025 primarily to the Domestic Gold Purchase Programme operated through GOLDBOD.

“Gross international reserves are always at the core of a currency’s stability,” Hosi said in an article. “So the lower the reserves, the lower the value of the currency in a floating FX regime.”

According to him, Ghana’s gross reserves increased from US$8.98 billion in 2024 to US$11.12 billion by October 2025 and are projected to reach US$13 billion by year-end.

He noted that the IMF itself linked the cedi’s appreciation to reserve accumulation and foreign exchange inflows driven largely by gold exports.

“Our receipts have surged from two fronts,” Hosi explained. “We recovered our one-third loss to smuggling by moving official volumes from 63 metric tonnes in 2024 to 101 metric tonnes in 2025, and global gold prices increased by 44 percent.”

He stressed that the resulting exchange rate performance defied IMF projections.

“The IMF-supervised 2025 budget projected a depreciation of about 9 percent,” Hosi said. “Instead, Ghana recorded a 13 percent average appreciation.”

“This was a well-orchestrated homegrown strategy,” he added, “anchored on the productivity of GOLDBOD under the DGPP programme.”

The National Communications Authority (NCA) has confirmed that DSTV’s recently introduced enhanced value packages will remain in effect following a review by a stakeholder committee set up by the Ministry of Communications, Digital Technology and Innovation.

In a press release on December 31, 2025, the NCA said the committee, chaired by the sector minister, evaluated DSTV pricing after the enhanced packages were implemented on October 1, 2025.

“The Committee noted that the enhanced value packages were duly implemented as announced and remain in force,” the statement said, adding that subscribers responded positively to the changes. According to the NCA, the value adjustments led to a “significant increase in subscriptions” among DSTV users in Ghana.

The committee also highlighted concerns over illegal internet streaming. The NCA said it is collaborating with other agencies, including the Cybersecurity Authority, to tackle piracy, which poses risks to tax revenue, the creative industry, and consumers’ security.

The Authority assured the public that ongoing engagement with stakeholders will continue to ensure the objectives of the review process are fully achieved.

The statement was issued by the NCA on behalf of the Minister for Communications, Digital Technology and Innovation, who chairs the DSTV Pricing Stakeholder Committee.

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Eric Edem Agbana has urged the National Democratic Congress (NDC) to stand firmly behind Sammy Gyamfi, describing him as “one of the greatest assets we have as a party.

“We must protect him. The NPP understands the impact of his work, and that is why they attack him daily with fabricated lies. Our responsibility is to stand by him. He is a precious jewel,” he shared in a Facebook post sighted by MyNewsGh.

The call comes at a time when the Minority caucus has raised concerns over potential losses amounting to hundreds of millions of dollars at Goldbod, headed by Sammy Gyamfi.

Speaking at a press conference on Monday, December 29, Minority representative Kojo Oppong Nkrumah cautioned that arrangements at the center of the controversy could be enabling the purchase of illegally mined gold.

“There are environmental issues that have to be dealt with,” Oppong Nkrumah said, highlighting the urgency of addressing the link between state funds and unlawful mining activities.

According to him, “As of now, we have every reason to believe that state money is being used to buy galamsey gold.”

The Minority caucus is calling for immediate regulatory measures to safeguard forest reserves and enhance monitoring systems. “One of the things we’ll be asking for is a suspension of permits in forest reserves and the introduction of serious measures on traceability,” Oppong Nkrumah explained.

He further noted that lapses in transparency within the gold framework have opened the door for abuse and environmental harm, emphasizing that urgent intervention is required to protect public resources and prevent further ecological damage.

Senyo Hosi has outlined what he describes as substantial fiscal savings resulting from Ghana’s improved exchange rate performance in 2025.

The Finance and economic policy analyst pointed to external debt servicing as a key beneficiary.

“Our ability to reverse the trajectory of the cedi from a projected GHS15.95 to a realised average of GHS12.53 saved the economy over GHS6.2 billion,” Hosi stated, adding that the figure translates to about US$560 million at year-end rates.

He also highlighted savings on payments to Independent Power Producers (IPPs).

“From IPP payments alone, we realised a saving in excess of GHS6.45 billion,” he said. “At year closing rates, this is about US$582 million.”

Beyond debt and energy costs, Hosi said import-related savings were even more significant.

“Our import bill is projected to end 2025 at about US$17.7 billion,” he noted. “The comparative saving exceeds GHS60 billion for the Ghanaian importer and consumer and for the economy as a whole.”

He stressed that these outcomes demonstrate why the US$214m spent on the DGPP cannot be viewed in isolation.

“The direct fiscal savings are more than five times the policy cost,” Hosi said.

Ghanaian economic policy analyst Senyo Hosi has described Ghana’s rapid currency recovery as an unexpected outcome within the framework of IMF-supported programmes.

“Our currency appreciation is a surprise and an outlier because it happened too soon,” he said, noting that IMF research typically associates IMF programmes with deeper currency depreciation during adjustment periods.

He referenced IMF-linked academic findings which suggest that depreciation is often part of balance-of-payments correction.

“What they missed is the Ghanaian’s behavioural nature and propensity to smuggle,” Hosi argued, adding that the DGPP altered incentives by formalising gold exports.

On inflation, Hosi pointed to IMF commentary linking currency stability to price moderation.

“There is no denying that the GOLDBOD-inspired appreciation contributed significantly to reducing inflation from 24 percent in 2024 to 6.3 percent by November 2025,” he said.

Despite the positive outcomes, Hosi cautioned against complacency.

“We cannot continue to be commodity-dependent,” he warned. “Policy must move to reduce or zero out this cost and build resilience.”

He also called for convergence between Bank of Ghana rates and open market rates, warning that disparities “are counterproductive and lead to foreign exchange losses.”

“We have brains too,” Hosi concluded. “We are writing the rulebook in Ghana and not in Washington, and this is real progress.”

Former Vice President Dr Mahamudu Bawumia has cautioned against the weakening of Ghana’s democratic institutions, warning that politicisation erodes public trust and threatens national cohesion.

Speaking in a New Year address monitored by MyNewsGh, the 2024 New Patriotic Party (NPP) presidential candidate said Ghana’s global democratic reputation must not be taken for granted, particularly at a time when citizens are raising concerns about fairness and institutional independence.

“When institutions are weakened, democracy is weakened. When institutions are politicised, trust is lost,” Dr Bawumia said. “Ghana’s democracy must never be sacrificed on the altar of short-term political advantage.”

He referenced Ghana’s recent drop in the 2025 Global Peace Index, noting that the country had fallen six places globally and slipped within Sub-Saharan Africa, developments he said pointed to growing security anxieties and pockets of unrest.

Dr Bawumia also cited the removal of Ghana’s third female Chief Justice, describing the episode as deeply troubling for those who value judicial independence.

“The manner in which she was hounded out of office hurt many of us who believe in the separation of powers,” he said.

He urged President John Mahama to protect national stability and safeguard democratic institutions, stressing that public confidence is directly linked to consistent and independent governance.

“When confidence is shaken, progress becomes harder,” he added.

2024 presidential candidate on the ticket of the New Patriotic Party (NPP), Dr Mahamudu Bawumia, has acknowledged the economic strain many Ghanaians faced over the past year, saying households across the country continue to feel pressure despite signs of macroeconomic stabilisation.

In his New Year message, the former Vice President said parents, traders, professionals, farmers and unemployed youth all experienced the effects of economic hardship in different ways.

“For many families, the past year has not been easy,” he said. “Parents have worried about providing for their households, while young people have wondered when promised jobs will materialise.”

Dr Bawumia noted that economic recovery figures alone do not fully capture lived realities, stressing that national policy must translate into tangible improvements for ordinary citizens.

“It’s not enough to speak about stability if people do not feel relief in their daily lives,” he stated.

He reiterated his belief that Ghana’s youth remain a critical national asset, describing them as capable, hardworking and ready to contribute if given opportunities rather than sympathy.

“Our young people are not waiting for pity. They are waiting for opportunities,” he said.

Dr Bawumia said job creation, support for small businesses and efficient public service delivery remain essential to building an economy that works for everyone.

Dr Mahamudu Bawumia has congratulated President John Mahama on his first year in office while urging him to prioritise national unity, peace and institutional strength.

Addressing the nation at the start of the year, the former Vice President said leadership comes with a “sacred trust” that must be exercised with restraint and responsibility.

“The Ghanaian people have bestowed a sacred trust on the President, and he cannot afford to fail them,” Dr Bawumia said.

He called on President Mahama to guard Ghana’s reputation as a stable democracy in a region often marked by political upheaval.

“Ghana has stood out as a beacon of peace in a region that has seen too much instability,” he noted. “That legacy must be protected.”

Dr Bawumia said the foundation inherited by the current administration was solid in many respects and urged continuity where it serves the national interest.

“It is imperative that we build on what exists and not allow it to slip,” he added.

He emphasised that citizens’ concerns about cohesion and governance should not be dismissed, warning that public unease weakens confidence in leadership and slows national progress.

Dr Mahamudu Bawumia has called on members of the New Patriotic Party to close ranks and focus on rebuilding ahead of the 2028 general elections.

Describing the moment as defining for the party, he said internal discipline, unity and values-based leadership must guide the NPP’s next phase.

“Ours is a party founded on freedom, justice and opportunity,” he said in a New Year message. “These principles demand more than slogans. They demand courage and selfless service.”

Dr Bawumia announced that the party’s January 31 flagbearer election would mark the beginning of its comeback, following constitutional reforms that expanded the electoral college to promote inclusivity.

“This contest should be about ideas and vision, not personal attacks,” he cautioned.

He warned that internal disputes only strengthen political opponents and weaken the party’s credibility with voters.

“We only provide ammunition to our opponents when we turn against ourselves,” he said.

Reaffirming his commitment to the party, Dr Bawumia said he remains ready to help restore public trust and lead the NPP into the next election cycle.

“I am in this with you,” he told party supporters. “Together, we can rebuild and win back the confidence of Ghanaians.”

President John Dramani Mahama has ushered Ghanaians into the new year with a message of hope, unity, and national progress, as captured in a New Year greeting released to mark the start of 2026.

In the message, the President expressed optimism about the year ahead, calling for collective commitment to peace and development.

“May the new year, 2026, bring us all prosperity, peace, and progress,” the statement read, reflecting an emphasis on shared responsibility and national renewal.

Deductively, Mahama’s message places expectations on leadership and citizens alike to work together toward a more prosperous future.