BoG to Deepen Collaboration with Businesses and Innovators to Boost Cedi Transactions – Naana Opoku-Agyemang Declares

The Vice President of the Republic, Prof. Jane Naana Opoku-Agyemang, has called on the Bank of Ghana to strengthen partnerships with businesses, banks, and innovators to make transactions in cedis easier and more efficient, both locally and across borders.

Delivering a powerful keynote address at the 60th Anniversary Celebration of the Ghana Cedi in Accra, Prof. Opoku-Agyemang underscored the importance of innovation, discipline, and public education in sustaining confidence in the national currency.

“I encourage the Bank of Ghana to work more closely with businesses, banks, and innovators to make it easier to transact in cedis — at home, online, and across borders,” she said. “Our confidence in the cedi must be backed by sound decisions, transparent actions, and accountable policies.”

The Vice President described the cedi as a reflection of Ghana’s sovereignty and identity, noting that its history dates back to 1965 when it replaced the Ghanaian pound under Dr. Kwame Nkrumah’s bold vision to liberate the economy from colonial monetary systems.

“The cedi, derived from the cowry shell, is not just a means of exchange. It is a symbol of our ability to define value in our own terms — proof that Ghana’s history did not begin with colonisation,” she remarked.

She celebrated the cedi’s remarkable recovery in recent years, noting that it has evolved from being one of the weakest currencies globally in 2022 to the best-performing currency in the world in 2025, according to Bloomberg. Inflation, she noted, has dropped sharply from 54.1% to 13.7%, while gross international reserves now exceed $12 billion — clear signs of renewed economic stability.

However, Prof. Opoku-Agyemang cautioned that this progress must be guarded carefully through fiscal discipline and collective responsibility.

“We must now protect what we have rebuilt. The government must lead by example — no more reckless borrowing or surging deficits that pass today’s problems to tomorrow’s generations,” she asserted.

She also urged Ghanaians to stop the growing habit of pricing goods and services in foreign currencies, describing it as an act that undermines the cedi’s integrity.

“If you earn in cedis, you must be able to transact in cedis,” she said firmly. “The cedi’s strength depends on how we use it, protect it, and believe in it.”

Highlighting the Bank of Ghana’s ongoing efforts in financial innovation, Prof. Opoku-Agyemang commended the rollout of the e-Cedi, a digital version of Ghana’s currency designed to modernize payment systems and ensure the cedi remains relevant in an increasingly cashless economy. She urged policymakers to pair digital finance with digital inclusion, ensuring that no Ghanaian is left behind.

“As finance evolves, so must we. The e-Cedi will help modernize our financial systems, but we must make sure its benefits reach everyone — especially those often excluded,” she added.

The Vice President further called for nationwide civic education and media campaigns to reinforce public confidence in the cedi, describing it as a “social contract” that mirrors the people’s trust in national institutions.

“Restoring confidence in the cedi is a national responsibility. We must teach our citizens that the strength of a currency is not only what it buys but what it represents,” she emphasized.

Prof. Opoku-Agyemang concluded her address by paying tribute to Dr. Kwame Nkrumah and the pioneers of Ghana’s financial system for their foresight, urging citizens to treat the cedi as a badge of independence and unity.

“As we celebrate 60 years of the cedi, let us honour the vision of those who built our economic foundation. The cedi has been our symbol of resilience, identity, and aspiration — may it continue to endure,” she declared, officially launching the Ghana Cedi@60 Celebration.

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