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President John Dramani Mahama has issued a strong call to Ghanaians to finally let go of the pre-2007 currency mindset, stressing that the continued habit of converting prices into the old cedi is undermining public understanding of money and weakening confidence in the national currency.
Addressing participants at the Cedi@60 International Currency Conference on Tuesday, November 18, 2025, President Mahama said the persistence of old-currency thinking—nearly two decades after Ghana’s redenomination—remains a major psychological barrier to how citizens perceive value.
He illustrated the problem with a recent encounter at a funeral, where a donor’s contribution of GH¢100,000 received no reaction until an MC converted the amount into the old currency as “one billion cedis”.
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“That incident alone tells us that many still judge value using a currency we retired almost 20 years ago,” Mahama said. “We must move past this habit if we want to build real confidence in the cedi.”
The President also raised concerns over how many Ghanaians handle physical notes, pointing out that careless folding, squeezing and tearing of currency increases printing costs and reduces note quality in circulation. He urged the Bank of Ghana to intensify nationwide education on the proper handling and storage of banknotes.
President Mahama said recent improvements in economic stability are beginning to reflect in ordinary commercial activity.
He noted that car dealers and landlords—who previously insisted on dollar-denominated payments—were now issuing invoices and accepting payments in cedis.
According to him, this shift signals growing trust in the national currency, crediting the Bank of Ghana and the Ministry of Finance for the progress.
He referenced S&P Global’s November 7, 2025 upgrade of Ghana’s sovereign rating from CCC+/Cto B-/Bas an international endorsement of Ghana’s improving economic conditions.
President Mahama emphasised that sustaining these gains depends heavily on the independence and credibility of the central bank. A strong and autonomous Bank of Ghana, he said, remains essential in safeguarding the value of the cedi.
He urged the bank to scale up public sensitisation on the importance of using the cedi for domestic transactions, proper currency handling and improved financial literacy.
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