The cedi at 60 becomes a mirror of Ghana’s journey through economic highs and lows: Video
Ghana has launched a year-long campaign to commemorate 60 years of its national currency, the Ghana cedi.
The initiative, known as Cedi@60, also highlights the currency’s role in advancing the country’s economic independence since its introduction.
At the official launch in Accra on October 28, Bank of Ghana Governor Johnson Bandit Asiamah noted that the economy is showing renewed signs of stability. He described the anniversary as a milestone for national reflection and confidence in Ghana’s economic direction.
“Ghana has turned a decisive corner,” said Asiamah. He attributed the improvement to falling inflation and stronger foreign reserves, which he said have “provided a robust cushion against external volatility and restored our investor confidence.”
The initiative follows a period of economic difficulty. In August 2024, Bloomberg named the cedi as the worst-performing among Africa’s top currencies.
As of October 2025, the cedi has appreciated by approximately 37%. The World Bank reports it was the best-performing currency in sub-Saharan Africa during the first eight months of the year.
“We have learned painful lessons from fiscal indiscipline, overborrowing, and ignoring right principles, but today, the cedi has not only recovered. It has soared,” said Vice President Jane Naana Opoku-Agyemang.
Finance Minister Cassiel Ato Forson urged a reduction in reliance on foreign currency. “The Ghana Cedi remains the only legal tender. The US dollar is not our currency. The Cedi is our only currency,” he stated.
Bank of Ghana data showed that as of October 28, the cedi was trading at a market average of 10.85 Ghana cedis to 1 US dollar. This is a significant improvement compared to 16.15 Ghanaian cedi to 1 US dollar during the same period in 2024.
“Our commitment to fiscal discipline has contributed to the strengthening of the Ghana Cedi… We shall stay the course to ensure that the Ghana cedi remains stable,” the finance minister said.
This story is written and edited by the Global South World team, you can contact us here.
