Please pass on some of the cedi appreciation to Ghanaians – Mahama appeals to businesses

President John Dramani Mahama has urged businesses to lower prices. He wants them to share the benefits of the cedi's appreciation with Ghanaians.

At the 9th Ghana CEO Summit and Awards Expo, Mahama praised companies like Orca Deco and GPRTU. He commended them for reducing prices in response to the cedi’s recent gains.

Mahama said, “Thank you to those who have reduced prices.” He encouraged others to do the same. “Please pass on some of the cedi appreciation to Ghanaians,” he added.

The President assured that his government will maintain these recent gains. He stated, “We will uphold fiscal discipline and support a thriving business environment.”

Dr. Johnson Asiamah, Governor of the Bank of Ghana, also spoke at the event. He dismissed claims that the Central Bank is manipulating exchange rates.

He explained that they are not using international reserves to support the cedi. The cedi has appreciated by 24.1%, according to Dr. Asiamah.

He emphasized that this appreciation comes from disciplined monetary policy and improved remittance flows. It reflects structural changes aimed at long-term stability, not short-term fixes.

Dr. Asiamah stated, “Our Cedi has appreciated by 24.1% against the US dollar.” He reiterated that this is market-driven and sustainable.

These efforts include forex auction reforms and stricter market surveillance measures.