Assure business leaders that cedi appreciation is not temporary – Deloitte Boss to government

Daniel Kwadwo Owusu, the Country Managing Partner of Deloitte Ghana, has a message for the government. He wants assurance for business leaders that the recent appreciation of the cedi is not temporary.

Many businesses are uncertain about the future of the cedi. High utility tariffs and transportation costs add to their concerns. Mr. Owusu shared these insights at the 9th Ghana CEO Summit and Expo.

He spoke on “Transforming Business and Governance for Ghana’s Economic Reset.” He advised against short-term measures that lack lasting stability. Fundamental reforms are necessary for true economic change.

A strong currency is beneficial, but it doesn’t lower prices automatically. Domestic cost pressures like transport and energy must be addressed first.

Mr. Owusu also emphasized the need to diversify Ghana's economy. Currently, it relies heavily on gold and cocoa exports. Diversification would reduce vulnerability to global price swings.

He reflected on 2017 after the IMF bailout program when the cedi recovered briefly. Inflation fell to about