The Bank of Ghana (BoG) has announced plans to commemorate the 60th anniversary of the Ghana Cedi on July 19, 2025. This milestone marks six decades since the cedi replaced the Ghanaian Pound in 1965, becoming the country’s sole legal tender. In a statement issued on May 13, the central bank emphasized the significance of…
Isaac Adongo, a board member of the Bank of Ghana (BoG), has announced upcoming measures to significantly tighten restrictions on over-the-counter US dollar withdrawals from banks and other financial institutions. The move is aimed at stabilizing the local currency and curbing speculative activity. Currently, individuals can withdraw limited amounts of dollars if they provide valid…
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has assured Ghanaians that prices of goods and services are expected to see a significant decline within the next 60 days, following the recent appreciation of the Ghana cedi against the US dollar. Speaking at a meeting in Accra with the leadership of the Ghana Union…
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, is currently holding a high-level closed-door meeting with leaders of the Ghana Union of Traders Association (GUTA), the Association of Ghana Industries (AGI), and the Food and Beverage Association of Ghana (FABAG). The discussions are centered on addressing the persistent rise in the cost of goods…
The World Bank has praised Ghana for its outstanding achievements under the Gulf of Guinea Northern Regions Social Cohesion (SOCO) Project, citing the country’s efforts as surpassing initial expectations and delivering transformative results. During a recent visit to SOCO project sites, Mr. Robin Mearns, the World Bank’s Global Director for Social Development, led a high-level…
Traders at the bustling Makola and Okaishie markets in Accra are resisting growing pressure to slash prices, even as the Ghanaian cedi strengthens against major foreign currencies, particularly the US dollar. In recent weeks, the cedi has posted a notable recovery after prolonged depreciation, stirring public expectations for lower prices—especially on imported goods. However, many…
The Bank of Ghana (BoG) has issued a strong warning to the general public to be wary of individuals posing as foreign investors offering high investment returns, describing them as scammers operating illegally. In a statement released on May 9, 2025, the BoG revealed that these fraudsters are using various platforms to lure unsuspecting individuals…
The Ghana Union of Traders’ Associations (GUTA) has issued a strong call to traders across the country to immediately reduce the prices of goods and services in light of the cedi’s recent appreciation. In a concise yet firm statement, GUTA urged the trading community to reflect the improved exchange rate in their pricing. “We wish…
Ghana’s Finance Minister, Cassiel Ato Forson, has credited the recent strengthening of the cedi to deliberate and sustained economic planning, dismissing suggestions that the improvement is a short-term market response. Speaking during a meeting with the Food and Beverage Association of Ghana, Forson emphasized that the cedi’s recent appreciation reflects long-term fiscal strategies rather than…
The Ghanaian cedi has been recognized by Bloomberg as the best-performing currency in the world this month, gaining nearly 16% against the US dollar since the beginning of April 2025. This strong appreciation has contributed significantly to easing inflation in the country, bringing Ghana’s consumer inflation rate to its lowest level in eight months. As…
