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Otumfuo urges Central Bank to stabilise foreign currency market

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Dr Boris Baidoo (3rd right) receiving the Gold Award the Sewuahene at the ceremony

The Asantehene, Otumfuo Osei Tutu II, has urged the Central Bank to take all the requisite steps within its competence to return the foreign currency market to stability.

According to the Asantehene, though he has no doubt that the Bank of Ghana is doing its best to remedy the situation, it must also take steps in order to bring predictability to Ghana’s export and import trade, as well as other international financial transactions.

Otumfuo, who was represented by Nana Kwaku Amankwah Sarkodie, Sewuahene, at the 19th Ashanti Business and Financial Services Excellent Awards and 18th Ashanti Business Leaders Excellent Awards, organised by TOPBRASS over the weekend, said the unsettling turbulence evidenced in the astronomical depreciation of the Cedi against the major currencies,particularly the US dollar, which has characterised Ghana’s currency market since the beginning of the year is disturbing.

The Asantehene commended the generality of the business community, as well as finance houses in Kumasi and Ghana as a whole, for their immense contribution to the social and economic development of Ashanti region.

He drew the attention of government to the predicament of Ghana’s once vibrant poultry industry, which regrettably has been in a state of distress in recent years, citing industry giants such as Darko Farms, AbateFarms, Topman Farms and Boris B Farms.

He noted that, it is certainly reassuring that government itself recognises the potential of Ghana achieving self-sufficiency in poultry production by injecting there quisite capital to the tune of Gh¢10 million into the poultry industry to ensure its revival and sustainability.

Meanwhile, Boris ‘B’ Farms has been adjudged the Overall Best Business Leaders Award in the Gold category at the ceremony.

Dr. Boris Baidoo is the Managing Director and founder of Boris B Farms, which has conscientiously studied and worked in the feed sub-sector of the poultry value chain.

Dr. Baidoo, who is currently the elected chairman for the Ashanti Regional Poultry Farmers Association, since June 25, 2019 expressed his profound gratitude to the Asantehene for the recognition and said, the Award would serve as a motivation for him to do more.

He also commended the sector Minister, Dr. Owusu Afriyie Akoto for the support and urged Ghanaians to eat what we grow and grow what we eat for the sustenance of our local economy.

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