The government is working to maintain a stable currency rather than just a strong cedi, President John Dramani Mahama has stated.
"What we seek is a stable currency and not a strong #GhanaCedi," the President posted on his X Spaces handle.
"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, particularly to benefit the good people of Ghana," he added.
The President's post followed the launch of the 60th anniversary of the Cedi last Tuesday, an event to celebrate the diverse stages and phases the national currency had undergone in the country’s economic journey.
"A stable Cedi means a predictable business environment, affordable food prices, increased investor confidence and sustainable economic growth,” President Mahama said.
"As we celebrate 60 years of our national currency, it is encouraging that the Bank of Ghana (BoG) reaffirms its commitment to monetary stability and economic prosperity," President Mahama said in the post, adding that the orientation was what his government's Resetting Ghana Agenda was about.
Launch
Last Tuesday, the BoG launched a series of activities to mark the 60th anniversary of the introduction of the Ghana cedi.
It was on the theme; “60 Years of the cedi: A symbol of sovereignty, stability and economic resilience”.
The launch also celebrated how the cedi has served the country as a symbol of sovereignty, stability, economic resilience and a prosperous future.
In July 1965, the cedi officially replaced the Ghanaian pound, pence and shillings.
This marked the fulfilment of Dr Kwame Nkrumah’s bold vision to liberate Ghana’s economy from colonial monetary structures.
The name cedi was derived from the cowrie shell, which for centuries served as a trusted medium of exchange.
Through this change, Ghana affirmed that its history did not begin with colonisation, and that true independence and sovereignty was in the nation’s ability to define value and conduct trade on its own terms.
The launch ushers in over 12 months of nationwide and inclusive activities to mark the anniversary.
Governor
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, said the cedi “reflects our moments of bold ambition, our trials under pressure, and our resilience in rebuilding.
In recent years, Ghana, like many other nations, has had to navigate some of the most complex economic storms in a generation.
“From the lingering effects of the global pandemic, through economic crises, debt exchange, and tightening global financial conditions, our economic fabric was tested.
But few countries experienced it as acutely as we did,” he said.
Dr Asiama said as of November 2022, the cedi depreciated by over 50 per cent, becoming the world’s worst performing currency, according to Bloomberg.
He explained that headline inflation spiralled to 54.1 per cent and food inflation soared to an alarming 59.7 per cent year-on-year in December 2022, distorting household budgets, shrinking incomes and feeding public anxiety.
The Governor stated that under the leadership of President John Dramani Mahama, and through coordinated, difficult, but necessary policy actions, Ghana had turned the corner decisively, saying “the evidence is compelling”.
The Governor said the cedi had appreciated by 37.4 per cent year-to-date (October 17,2025), making it the best performing currency in Sub-Saharan Africa in the first eight months of the year.
President attends Paris Peace Forum
Meanwhile, President Mahama has arrived in Paris, France, to participate in the 8th Paris Peace Forum.
The high-level international gathering, which brings together world leaders, heads of international organisations and civil society actors, is scheduled for Wednesday, 29th and Thursday, 30th October 2025.
The forum serves as a platform for advancing concrete solutions to global challenges, fostering governance innovation, and promoting multilateral cooperation.
Following his engagement in Paris, President Mahama will undertake a visit to Cairo, Egypt, at the invitation of his Egyptian counterpart.
The President is scheduled to be a Special Guest at the historic opening of the Grand Egyptian Museum on Saturday, 1st November 2025.
The museum, a monumental cultural project, is set to house the world's most extensive collection of Pharaonic antiquities.
A statement issued in Accra on Tuesday and signed by the Spokesperson to the President and Minister for Government Communications, Felix Kwakye Ofosu, which confirmed the President's itinerary, said the President was expected to conclude his official travels and return to Ghana on Sunday.
