Civic education and deliberate policy crucial to restoring respect for the Cedi – Ralph Ayitey

In commemoration of Ghana’s Republic Day on July 1, 2025, Ralph Ayitey, Chief Executive Officer of Coconut Grove Regency Hotel and National Treasurer of the Association of Ghana Industries (AGI), is urging the state to prioritise civic education and deliberate economic policy reforms as strategic tools for restoring national respect and value for the Ghanaian Cedi.

Speaking to Myjoyonline, Mr Ayitey argued that the national currency must not only be seen as a medium of exchange but as a civic emblem of sovereignty and shared economic destiny, one that should be treated with pride and protected from both neglect and misuse.

“The Cedi is not just currency, it’s an identity marker,” Mr Ayitey noted. “Just like our flag or anthem, the Cedi is something that defines our independence and ‘Ghanaianness’. But if we’re not teaching children to value it, how do we expect the adult population to treat it with dignity later?”

“Even after independence, we were still using the British pound. So, as part of the process of achieving total independence and republican status, the Cedi was introduced. It is what identifies us as a nation. Every facet of life, be it medicals, transport, school fees, is governed by economics and determined by how much Cedi you have or are supposed to have,” he said.

He believes that the starting point is education, both formal and civic, where financial discipline, economic patriotism, and a deeper understanding of national symbols are nurtured from a young age.

“When we were in primary school, we were taught to take good care of the Cedi. We were made to understand its value, even the coins. That discipline must be reintroduced,” he noted. “Let’s protect this, whether it’s five, ten, twenty or two hundred Cedis. Let’s defend it to the hilt.”

Call for Deliberate Policy

Beyond the classroom, Mr Ayitey called on policymakers to design targeted policies that reinforce confidence in the currency.
According to him, economic respect must be built deliberately, through consistent pricing in Cedis, government leadership by example, and business-friendly policies that reduce reliance on foreign currencies.

“Let’s be deliberate about the businessman being comfortable holding on to his Cedi. Let’s engage businesses in shaping the exchange rate, inflation, and investment environments. Solutions often lie with the business community, not just government.”

He pointed to the role businesses can play when equipped and included in national decision-making, particularly in shaping inflation expectations, exchange rates, and investment outcomes.

Rejecting a Siloed Approach

Mr Ayitey also cautioned against a fragmented approach to economic planning, calling instead for unified action across government, private sector and civil society.
While acknowledging the realities of global trade, he warned that Ghana must develop internal systems and policies that serve the national interest, even within an international context.

“We cannot operate in silos. We cannot encapsulate ourselves from global trade, but we can consolidate ourselves to determine what we use, at what cost, and with what benefit. Let’s stop operating in silos and work together, government, private sector, and civil society, to shape a Ghana we can all be proud of.”

He drew parallels with the success of locally run enterprises like Coconut Grove in Elmina, highlighting how deliberate localisation and capacity-building efforts are yielding long-term results in the hospitality industry.

“If we’re not teaching our children to value what is Ghanaian, like the Cedi, then it becomes difficult for them to appreciate things like inflation or exchange rates later. Civil education must play a key role in shaping our national consciousness.”

“Every Republic Day, we must ask ourselves what symbols of our nationhood we are defending. The Cedi is one of them. Let’s protect it like we protect our flag or rally behind our football team. Let’s be deliberate, be communal, and be proud.”

In a season of reflection on Ghana’s sovereignty, Ralph Ayitey’s call places civic education and policy discipline at the heart of economic patriotism, reminding Ghanaians that respecting the Cedi is not just about economics; it is about national pride, identity, and self-determination.
 

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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.