Traders must be willing to reduce prices when the cedi strengthens – Joyce Bawa argues

Joyce Bawa Mogtari, an aide to the President of Ghana, has a message for traders. She urges them to lower their prices.

Mogtari believes that if prices rise when the dollar increases, they should fall when the cedi strengthens. She shared her thoughts on social media, stating, “If we can increase prices when the cedi weakens, we must reduce prices when it strengthens.”

She praised Orca Decor for leading by example with a 15% price reduction. She encourages other businesses to follow this initiative.

The Ghanaian cedi is currently performing well. It has appreciated nearly 16% against the US dollar since April 2025. This positive trend raises discussions about lowering prices for goods and services.

Inflation is also decreasing. In April, it dropped to 21.2%, down from 22.4% in March. There is hope that Ghana's economy is improving.

However, these economic gains need to be felt by everyday Ghanaians at markets and fuel stations. When the cedi was weak, businesses quickly raised their prices. Now that it’s strong, they should lower them accordingly.

Orca Deco’s decision to cut prices shows what can be done without public pressure or excuses. They acted on principle and set a standard for others.

Mogtari questions where other businesses are now. Where are the importers who blamed the dollar? Where are fuel distributors who raised prices during cedi declines?

There needs to be shared responsibility in responding to economic changes. The strength of our currency should benefit all citizens.

All sectors of Ghana's economy—retailers, service providers, importers, manufacturers—should reassess their pricing models based on current currency realities.

Consumers also have a role to play. They must demand transparency and accountability from businesses regarding pricing practices.

It’s time for a reset in both our economy and mindset. As President Mahama advocates, leadership should focus on trust and fairness.

This approach must extend into our business culture as well. We aim for economic transformation that impacts daily life—not just GDP figures but also market stalls and transportation costs.

That is the vision for Ghana—a fair economy reflecting every gain made by the cedi.