The Executive Secretary of the Importers and Exporters Association of Ghana, Samson Asaki Awingobit, has commended the recent stability of the Ghanaian cedi, stating that it is helping to reduce prices and ease the burden on both traders and consumers.
Speaking on The Big Issue on Channel One TV, Awingobit noted that the improved availability of the US dollar through formal banking channels has brought much-needed predictability to the trading environment.
“In the past, traders had to call around every day to check the dollar rate before setting prices. But now, the cedi has improved, and the dollar is more available at the banks,” he said.
The Executive Secretary further pointed out that the benefits are being felt directly by households.
“If the dollar rate goes down, prices go down too,” he added. “My wife recently bought Frytol oil for GH¢600 or GH¢700, which used to cost GH¢1,200 or more. That’s a big drop.”
The recent appreciation of the cedi has become a rallying point for the ruling National Democratic Congress (NDC), with the Mahama-led administration attributing the progress to prudent fiscal policies, tightened expenditure controls, and sustained collaboration with financial partners including the IMF.
Government communicators have positioned the cedi’s rebound as proof that Ghana is gradually turning a corner economically, following years of instability and depreciation.
The Ministry of Finance recently reported a 6-month streak of relative currency stability, with support from stronger inflows from cocoa exports and more disciplined forex management by the Bank of Ghana.
Despite this progress, opposition figures warn that Ghana must not become complacent, urging structural reforms to make the cedi’s strength sustainable beyond temporary interventions.
