Cedi’s strong performance must reflect in prices – Joyce Bawah tells businesses

Ghana’s cedi has gained global attention. It is now the best-performing currency. Since April 2025, it has appreciated nearly 16% against the US dollar, according to Bloomberg.

Joyce Bawah Mogtari is the Special Aide to former President John Dramani Mahama. She urges businesses to respond fairly by lowering prices. “If we raise prices when the cedi weakens, we must lower them when it strengthens,” she stated.

Her comments come after inflation dropped to 21.2% in April. This is down from 22.4% the previous month. She believes this trend should lead to lower market prices.

Mogtari praised Orca Deco, a major furniture retailer. The company announced a 15% price reduction due to the cedi’s appreciation. “They did not wait for public pressure or excuses,” she said.

She described Orca Deco's action as principled and commendable. In contrast, she noted that other sectors have been silent and inactive. Many of these sectors previously blamed the falling cedi for price hikes.

“Where are the importers who blamed the dollar?” she asked. “Where are fuel distributors? Where are traders?” She called for a collective sense of economic responsibility.

As the cedi strengthens and inflation decreases, Mogtari insists on ethical pricing practices. These should reflect Ghana's improving macroeconomic indicators.