The stars aligned for Ghana’s cedi recovery – Joe Jackson

Ghana’s local currency, the cedi, has recently stabilized and appreciated. Financial expert Joe Jackson believes this success is not just luck.

Jackson is the CEO of Dalex Finance. He says a mix of global economic factors and Ghana’s internal discipline created ideal conditions for this rebound.

On May 9, he spoke on Citi FM’s Eyewitness News. He described this moment as rare, where opportunity met preparation. Many Ghanaians feel cautiously optimistic about the currency after years of volatility.

“The situation is good. We are in a good space,” Jackson said. “The stars aligned for us due to our internal commitments and discipline.”

For Jackson, this alignment refers to favorable global economic developments. He highlighted the performance of gold, one of Ghana’s major exports.

“Our central bank has consistently sought to increase its gold reserves,” he explained. “In the last eight years, gold has outperformed the dollar by over 100%.”

Ghana's gold production and government policies like Gold-for-Oil are starting to show results. These measures aim to reduce dependence on foreign currency and strengthen the cedi.

“The implementation of Goldbod in a transparent manner will retain more value in our gold,” Jackson added. This reflects a shift in how Ghana manages its natural resources.

Instead of just exporting raw gold, Ghana is capturing more local value through policy changes. The timing of these initiatives coincided with rising global gold prices and stable economic conditions.

This helped boost investor confidence and provided tools for the Bank of Ghana to stabilize the currency. Jackson's comments come as international markets show renewed interest in Ghana, giving local businesses hope again.