President John Dramani Mahama has appealed to business operators to pass on some of the cedi appreciation to Ghanaians by reducing their prices.
At the 9th Ghana CEO Summit and Awards Expo, Mahama heaped praises on Orca Deco, GPRTU and other companies and businesses for adjusting prices in response to the cedi’s recent gains.
Speaking at the 9th Ghana CEO Summit and Awards Expo, John Mahama stated, “Let me take the opportunity to commend those of you who have responded to the cedi’s appreciation by reducing prices of your products and services and thereby passing some of the relief from the hardship to Ghanaians.”
“GPRTU, thank you very much,” he said.
“And so, those of you who haven’t responded yet, please pass on some of the cedi appreciation to Ghanaians,” he added.
President Mahama further assured his government will maintain the recent cedi gains, “On the government’s part, I want to assure you that we will maintain the current fiscal discipline and work to maintain a conducive environment for your businesses to thrive”.
Meanwhile, Dr Johnson Asiamah, the Governor of the Bank of Ghana has at the event also brushed off claims that the Central Bank is deliberately manipulating the exchange rate to drive the recent appreciation of the Cedi.
He revealed that the Central Bank is not using international reserves to support the cedi.
According to Dr Johnson Asiamah, the Ghana cedis have appreciated by 24.1%.
He further emphasised that the recent cedi appreciation is not backed by the Central Banks international reserves but through disciplined monetary policy, improved remittance flows, and enhanced market surveillance.
On Monday, May 26, 2025, speaking at the Ghana CEO Summit held in Accra Dr. Asiamah detailed, “Our Cedi has appreciated by 24.1% against the US dollar. Let me emphasise that the Central Bank is not using international reserves to support the Cedi, nor are we engineering an appreciation, of the Cedi that will not be sustainable,
It is all market-driven, and the strengthening of the currency reflects a blend of disciplined monetary policy tailored to forex auction reforms, enhanced remittance channels and stricter market surveilling.
These are not short-term interventions—they are deliberate, structural changes aimed at ensuring long-term stability,” he added.
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