As Ghana commemorates 60 years of the national currency, President John Dramani Mahama has used the occasion to highlight his administration’s renewed focus on macroeconomic stability, stressing that a stable cedi—not necessarily a strong one—remains the cornerstone of lasting national growth.
In a statement marking the anniversary, President Mahama said his government’s economic vision under the #ResettingGhana Agenda prioritises long-term stability over short-term gains, explaining that a predictable currency fosters business confidence, affordable living, and sustainable development.
“What we seek is a stable currency and not a strong Ghana Cedi,” he noted. “My administration is working to guarantee a stable Ghana Cedi to create a conducive environment for business and investment, and to ensure stable food prices for the good people of Ghana.”
President Mahama’s comments come at a time when exchange rate management remains a major concern for households and businesses, with fluctuating currency values often translating into higher import costs, inflation, and uncertainty in the private sector.
He commended the Bank of Ghana for maintaining its focus on monetary discipline and financial resilience, describing the central bank’s efforts as essential to sustaining Ghana’s post-pandemic recovery and rebuilding confidence in the local economy.
“A stable cedi forms the foundation for a predictable business environment, affordable food prices, and increased investor confidence,” he said.
The President linked currency stability directly to his government’s broader objective of resetting Ghana’s economy through policies that enhance productivity, attract investment, and ease the cost of doing business.
Reflecting on the cedi’s 60-year journey since its introduction in 1965, Mahama described it as a symbol of Ghana’s economic resilience, one that has weathered periods of both strength and strain but continues to represent national identity and independence.
He ended with a call for unity and collective responsibility in sustaining Ghana’s economic gains:
“A stable cedi means a stronger Ghana. Let’s build Ghana together.”
The anniversary of the cedi’s introduction has rekindled national discussions about fiscal prudence, local production, and economic sovereignty, as policymakers and citizens reflect on how to preserve the stability of a currency that has served as both a measure of progress and a mirror of Ghana’s economic challenges.
