Otumfuo Gold Coin life-long project - E ON 3 Group

BY: Kwame Asare Boadu
Otumfuo Gold Coin life-long project - E ON 3 Group
Otumfuo Osei Tutu II speaking at the launch

The Otumfuo Commemorative Gold Coin will be a life-long project that will not only stand as a legacy for the Asantehene, Otumfuo Osei Tutu II, but also serve as a vehicle to project the country’s cultural heritage, the organisers have said.

The Gold Coast Refinery Limited minted the commemorative gold coin on the authorisation of the Bank of Ghana (BoG).


Giving reasons for the authorisation of the minting of the coin to celebrate the Asantehene, the Governor of the Central Bank, Dr Ernest Addison, explained: “The bank approved the issuance of a commemorative coin and offered to assist to procure the coin through appropriate channels. The gold coin will be of no monetary value. By that we mean it will not be a medium of exchange and not exactly a legal tender.”

He further remarked, “In recognition of the invaluable role and your remarkable achievements in the preservation of peace in the safeguarding of life, the development of Ghana and ensuring peaceful coexistence of the citizenry of Ghana, the Bank of Ghana proudly associates itself with the launch of this commemorative gold coin to climax your Majesty’s 20th year as the Asantehene.”

More than 600 dignitaries, including the Vice-President Dr Mahamudu Bawumia and his wife, Mrs Samira Bawumia, attended the event.


On Wednesday, the organisers gave further details of the significance of the coin, explaining that the Cultural Resource Centre, which would be established in Kumasi with proceeds from the sale of the coin, would stand out as a national heritage for the benefit of generations yet unborn.

“The centre will employ the latest technologies and information technology (IT) platforms to promote activities related to traditional and customary conflict resolution in Ghana, as well as other peace initiatives,” E ON 3 Group, an Accra-based business solutions provider, which organised the launch of the gold coin, in collaboration with the Precious Minerals Marketing Company (PMMC), Access Bank and the Manhyia Palace, said in a statement.


The gold coin are of 99.99 per cent assay at 24 carat fine gold, with a diameter of 37mm and weight of 31.104 grammes each.

“The face of the gold coin bears the image of the Asantehene, with the Adinkra symbols ‘Bi Nka Bi’ and ‘Mpatapo’, which symbolise peace, harmony and reconciliation.

“The reverse bears an image of the Golden Stool (Sika Dwa),” a statement from the organisers said.

Access Bank is the official banking partner of the gold coins, while Coronation Insurance Company Limited is the official insurance company, with other companies, including the KGL Group, as co-sponsors.

Special presentations

Meanwhile, E ON 3 Group has said special presentation of the coin would be made next week.

The personalities billed to receive the coins are President Nana Addo Dankwa Akufo-Addo; the Vice-President, Dr Bawumia; Otumfuo Osei Tutu II; the Speaker of Parliament, Mr Alban S.K. Bagbin; the Chief Justice, Justice Kwasi Anin Yeboah; the Chief of Staff at the Presidency, Mrs Akosua Frema Osei-Opare: the Minister of Finance, Mr Ken Ofori-Atta; the Governor of the BoG, Dr Ernest Addison; the Chairman of the National Peace Council, Rev. Dr Adu-Gyamfi; the Director- General, Security and Exchange Commission, Rev. Daniel Ogbarmey Tetteh, and the Executive Chairman Jonah Capital, Mr Sam Jonah.