Ghana’s real household spending will grow by an improved 2.5% year-on-year to GH¢129.7 billion in 2025, Fitch Solutions has disclosed. This follows a weaker growth of 1.1% a year ago. According to the UK-based firm, this will be 25.4% above the GH¢103.4 billion recorded in 2019 (pre-pandemic). The major driversContinue Reading
The prices of petroleum products are expected to witness one of the biggest drops at the pumps this year. This is due to the appreciation of the cedi against the dollar. According to the latest Chamber of Oil Marketing Companies (COMAC) pricing outlook for the first pricing window of JuneContinue Reading
The Canada-Ghana Chamber of Commerce has expressed serious concerns about the recent sharp appreciation of the Ghanaian cedi, warning that the sudden surge in value is negatively impacting exporters and could have far-reaching consequences for the country’s trade and investment landscape. Speaking in an exclusive interview with Joy Business duringContinue Reading
From ending 2024 at $1 to GH₵14.70, the cedi has appreciated nearly 30% in the first five months of this year, currently trading at $1 to GH₵10.30. That’s the strongest level the cedi has reached in over two years, and the sharpest appreciation over this period since 2010. This veryContinue Reading
The Ghana cedi gained 24.1% against the US dollar in the first five months of 2025. This is compared with a loss of 5.3% in the first quarter of 2025. According to the Bank of Ghana, the local currency traded at a rate of GH¢11.85 in May 2025 to theContinue Reading
Some traders within the Makola and Okaishie business hubs are pushing back against mounting calls to immediately reduce the prices of goods, despite the recent rebound of the Ghanaian cedi against the US dollar and other major foreign currencies. In recent weeks, the cedi has shown resilience, reversing months ofContinue Reading
The Bank of Ghana (BOG) has announced that it will celebrate the 60th anniversary of the Ghana Cedi on July 19, 2025. A statement released by the central bank on May 13 said the cedi will mark 60 years as Ghana’s sole legal tender. Since its issuance on July 19,Continue Reading
The Ghana cedi gained 6.25% week-on-week against the dollar in the retail market, cementing its position as the best currency among a basket of 15 Sub-Saharan African currencies. This took its year-to-date gains against the American greenback to 16.29%. It traded at a mid-rate of GH¢13.60 to one dollar atContinue Reading
Traders in the Ashanti Region have welcomed the directive by the Ghana Union of Traders’ Association (GUTA) to reduce the prices of goods in response to the appreciation of the Ghana cedi against the US dollar. According to the traders, they are willing to adjust prices to reflect the strengtheningContinue Reading
Economist and Professor at the University of Ghana, Professor William Baah-Boateng, has expressed concern over the sharp and rapid appreciation of the Ghanaian Cedi, warning that the development, while seemingly positive, could have unintended consequences for key sectors of the economy. His caution comes in the wake of recent reportsContinue Reading