Ghana yesterday celebrated six decades of its national currency, the Cedi, in a ceremony that drew some of the country’s most prominent leaders in finance and governance. The milestone event, was graced by the Vice President, Professor Jane Naana Opoku-Agyemang, the Minister for Finance Dr. Ato Forson, and the Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Kwesi Asiamah.
In a social media post that quickly gained traction, Nana Yaw Sarpong, Deputy General Secretary of the United Party (UP+), commended the Bank of Ghana Governor and other key economic managers for what he described as a “renewed confidence in the Cedi” and a “steady appreciation against the dollar in recent months.”
“Initially, I asked myself, why celebrate the Cedi at 60? But after some reflection, it actually makes sense,” Sarpong wrote. “We are getting a few things right as a nation — the steady appreciation of the Cedi, the welcomed ‘rain down’ of inflation, the return of investor trust, and signs of stability and growth. Ayekoo to Ghana, and especially to the Bank of Ghana.”
The Cedi, which has endured one of its most turbulent decades in recent history, appears to be regaining some strength after years of steep depreciation and economic uncertainty. Between 2015 and 2023, the local currency lost significant value against major trading currencies, particularly the US dollar, driven by global shocks, fiscal slippages, and a pandemic-battered economy.
However, since the beginning of 2025, Ghana has witnessed a cautious turnaround. The Cedi has gained marginally against the dollar for the first time in nearly eight years, buoyed by improved fiscal discipline, inflows from cocoa and gold exports, and renewed investor confidence following the country’s successful completion of key stages under the IMF support programme.
The BoG’s tightened monetary policy, along with enhanced forex management and banking sector reforms, has also helped rein in inflation, a development many analysts see as a signal of gradual macroeconomic recovery.
At the anniversary ceremony, speakers paid tribute to the resilience of Ghana’s financial institutions and called for continued vigilance to consolidate the gains.
Governor Johnson Asiamah reiterated the central bank’s commitment to maintaining stability, noting that the strength of a currency reflects the strength of the nation’s discipline, productivity, and unity of purpose.
While challenges remain, yesterday’s celebration served as both a reflection of Ghana’s economic journey and a reminder of the need for sustained reforms.
As Nana Yaw Sarpong aptly concluded in his post: “There is still more work ahead, but for now, let’s celebrate the progress!”
By Ebenezer Madugu
