Ghana’s national currency, the Cedi, is currently enjoying a rare moment in the global spotlight.
According to a recent Bloomberg report, the local unit has been named the world’s best-performing currency, having appreciated nearly 16% against the US dollar since April 2025. As of the latest check, it was trading at GH₵13.70 to the dollar—a significant improvement that has brought a sense of relief and cautious optimism across the country.
Speaking on Marketplace on JoyNews, Joe Jackson, Chief Executive Officer of Dalex Finance, described the development as a welcome break from the financial pressure Ghanaians have endured.
“Appreciation of the cedi and the stability alone has me excited,” he said. “We are clawing back the devastating effect on our purchasing. That can’t be a bad thing. Let’s pray it continues.”
Favorable Global and Local Winds
While global factors such as a weakening US dollar, a drop in petroleum prices, and increased investor interest in gold have contributed to the cedi’s rise, Mr. Jackson was quick to note that the gains are not purely external.
“We are uniquely situated to take advantage of these developments,” he noted, pointing to Ghana’s increasing gold reserves and the general trend of investors moving toward safer assets like gold.
At the same time, Ghana’s internal economic policy has played a vital role. “It is not external factors alone,” Jackson emphasised.
“The internal commitment by the government to be fiscally disciplined is also a factor.”
He credited both the government and the Bank of Ghana for making strategic choices—such as reducing expenditure, keeping treasury bill rates low, and maintaining a relatively high monetary policy rate—to stabilize the currency and restore confidence.
Contrasts and Cautions
In comparing Ghana’s situation with that of other African nations, Mr. Jackson was candid: “The situation is not the same in Nigeria. It is not the same in other African countries. We have to credit government too. Let’s give credit to the Government and the Central Bank who have taken advantage of these global developments.”
However, he also issued a word of caution. While the sharp appreciation of the cedi brings clear benefits, there are risks.
“Definitely there are risks to the cedi’s sharp appreciation, but at this moment the stars have aligned and put us in a good place,” he warned.
“Too early to demand prices go down. It will take some time. We are coming out of a national crisis”, he added.
Looking Ahead
One of the more immediate benefits of the currency stabilisation is the expected improvement in banking sector liquidity. With investors more confident in the cedi, more capital is likely to remain within the local economy. “There will be more liquidity to lend to the private sector,” Mr. Jackson predicted.
Still, he called for measured optimism: “Let’s be grateful for small mercies and enjoy it while it lasts. Ghanaians suffered when the cedi depreciated. It affected our purchasing. At this moment we are in a good space.”
As Ghana navigates these encouraging economic waters, the message is clear: celebrate the progress, remain vigilant, and support policies that sustain stability.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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