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The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has announced that the Ghanaian cedi has made a remarkable recovery, emerging as the best-performing currency in Sub-Saharan Africa for the first eight months of 2025, according to the World Bank.
Speaking at the official launch of the “Cedi @ 60” anniversary celebration in Accra, Dr Asiama said the local currency’s resurgence represents a powerful symbol of Ghana’s economic resilience and renewed confidence in the nation’s monetary management.
He noted that the cedi had appreciated by 37 per cent as of October 17, 2025, reversing years of decline and restoring stability to the local economy. “The cedi has become a trusted store of value, a driver of economic activity, and a daily emblem of our collective confidence as a nation,” Dr Asiama said.
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According to him, this performance was not accidental but the result of difficult yet coordinated policy decisions implemented under the leadership of President John Dramani Mahama and Vice President Dr Mahamudu Bawumia. He explained that these reforms, coupled with prudent monetary policy, fiscal discipline, and strong collaboration with financial institutions, have steered Ghana toward a decisive economic turnaround.
The Governor revealed that headline inflation had dropped sharply from over 54 per cent in 2023 to 9.4 per cent as of September 2025, with projections showing a further decline by year-end. In addition, Ghana’s gross international reserves currently stand at about $12 billion, providing a solid buffer against external shocks and improving investor confidence.
“These gains are not by chance,” Dr Asiama emphasised. “They are the product of strategic decisions, policy consistency, and the resilience of the Ghanaian people who believed in their currency and their central bank.”
Dr Asiama said the Cedi @ 60 initiative goes beyond commemoration—it is a national reflection on Ghana’s economic journey, from the introduction of the cedi in 1965 to its transformation into a modern, secure, and respected currency.
“This anniversary is more than a celebration of longevity. It is a year-long national education campaign that reconnects citizens, both young and old, with the role of the cedi in shaping our economic identity,” he stated.
The celebration will feature public lectures, exhibitions, school tours, and community forums to trace the history of the cedi and its role in promoting financial inclusion and sovereignty. It will also include diaspora engagements to highlight the contribution of remittances and international confidence in sustaining the currency’s strength.
Reflecting on Ghana’s monetary history, Dr Asiama acknowledged the country’s past economic challenges—from currency depreciation and high inflation to fiscal instability—and applauded the efforts of past and present central bank leaders who steered the institution through reform and crisis.
“The story of the cedi is the story of Ghana — a story of resilience, innovation, and pride,” he said. “It reminds us that our economic independence is not merely about numbers but about the confidence and trust we build in our own systems.”
He paid tribute to Ghana’s first president, Dr Kwame Nkrumah, the early governors of the Bank of Ghana, and the institution’s dedicated staff, past and present, for laying the foundation for monetary sovereignty.
“As we celebrate 60 years of the cedi, let us remember that its strength lies in the faith of Ghanaians. Because at the end of the day, it is your trust that gives the cedi its value,” Dr Asiama concluded.
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