The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has called on businesses to prioritize reinvesting their proceeds within the country to help sustain recent gains in forex stability.
According to him, maintaining a strong and stable cedi is not the sole responsibility of the central bank, but a collective effort involving all economic actors.
“Sustaining forex stability cannot be achieved by the central bank alone. It must be embedded in how businesses operate, how businesses plan, and how businesses engage the financial system,” he stated.
Speaking at the Graphic Business/Stanbic Bank Breakfast Meeting held in Accra, Dr. Asiama emphasized that the strength of Ghana’s local currency is directly tied to how much value is retained and circulated within the economy.
“The more value we keep within Ghana, the stronger the cedi becomes. And the more sustainable our macroeconomic trajectory. And so we want to encourage everyone. Let us embrace the local currency,” he noted.
The event, held under the theme “Sustaining Forex Gains: Business and Economic Impact,” brought together key players from the financial and business sectors to discuss ways of consolidating forex stability and fostering inclusive growth.
Dr. Asiama also urged Ghanaians to actively engage with and support the local currency, stating that such commitment will bolster the cedi and drive long-term national economic resilience.
“If we re-engineer our thoughts, and if we recalibrate how we form our projections about the cedi, I believe the cedi can be as good as any other currency out there,” he added.
He urged the public to report individuals who engage in counterfeiting and illegal dealings involving the cedi.
According to him, “There are things going on, and I can’t understand. For example, the counterfeiting of our cedi notes. I can’t imagine how we tolerate that. So if you observe any such practices, please pass on the information, and quickly we will engage.”
He used the occasion to extend a hand of invitation to the 60th anniversary of the Ghanaian cedi.
“For us at the central bank, we are celebrating the 60th anniversary of the cedi. There’s going to be a launch on the 8th of August, and let me take the opportunity to invite all of you. It will take place at the International Conference Center,” he revealed.
His remarks come at a time when Ghana has seen a relative stabilization in forex markets, following policy reforms and measures by the Bank of Ghana.
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