Business
BoG Governor: Cedi’s appreciation not artificially influenced
The Governor of the Bank of Ghana, Dr Johnson Asiama, has dismissed claims that the Central Bank is manipulating the exchange rate to cause the recent appreciation of the Cedi.
His comments come amid growing speculation following the local currency’s notable performance against major foreign currencies in recent weeks.
Addressing participants at the Ghana CEO Summit in Accra on Monday, 26 May 2025, Dr Asiama firmly denied any artificial intervention by the Bank of Ghana.
He noted that the strength of the Cedi was the result of broader economic improvements rather than external support or short-term tactics.
“Our Cedi has appreciated by 24.1% against the US dollar,” he stated. “Let me emphasise that the Central Bank is not using international reserves to prop up the Cedi, nor are we engineering an unsustainable appreciation.”
He attributed the positive trend to a combination of disciplined monetary policy, foreign exchange reforms, and increased inflows.
“These are not short-term interventions—they are deliberate, structural changes aimed at ensuring long-term stability,” he explained.
Dr Asiamah further pointed to enhanced market surveillance and improved remittance flows as contributing factors to the sustained strength of the currency.
He assured the business community that the central bank remains committed to maintaining transparency and credibility in Ghana’s monetary operations.
Source:Myjoyonline.com
The Accra Metropolitan Assembly (AMA) has announced plans to step up enforcement and monitoring activities as part of the second edition of the National Sanitation Day, which will take place on Saturday, November 1, 2025, across the Accra metropolis.
According to the Assembly, the exercise aims to promote cleanliness, improve sanitation, and ensure full public participation in the national campaign to make Accra cleaner and healthier.
To achieve this, the AMA will deploy 21 Public Health Officers, 200 members of the AMA Sanitation Taskforce, and 81 labourers, including sweepers and janitors, across all sub-metropolitan areas.
The operation will also be supported by heavy-duty equipment such as compactor trucks, backhoe loaders, excavators, tipper trucks, and pay loaders to help desilt drains, clear refuse, and transport waste.
The AMA stated that, in line with the President’s directive and the Accra Metropolitan Assembly (Communal Labour) Bye-Laws, 2017, all shops, markets, and business premises are to remain closed from 6:00 a.m. until the exercise is completed to allow for full public participation.
The clean-up activities will focus on desilting drains, sweeping streets, brushing road kerbs, and removing unauthorized banners.
Key areas expected to see intensified work include the Ashiedu Keteke Sub-Metro, which covers John Evans Atta Mills High Street, Asafoatse Nettey Road, and Agbogbloshie; the Ablekuma South Sub-Metro, which will focus on Chorkor (from Galilee to Lante Maami through Chemuenaa) and the Guggisberg Road to Korle Bu stretch; and the Okaikoi South Sub-Metro, which will include the Kwame Nkrumah Interchange and the Police Depot area (from Alajo Junction to Abeka Junction).
The AMA reminded the public that anyone who fails to comply with the sanitation directive or refuses to participate in the communal labour commits an offence.
Offenders may face a fine of up to 100 penalty units, imprisonment of between 30 and 180 days, or both. Continuing offenders will face additional daily penalties.
The Assembly is therefore, urging all residents, traders, transport operators, and businesses to actively take part in the clean-up exercise, stressing that maintaining a clean city is a shared responsibility.
It added that the goal of the exercise is to make Accra a cleaner, safer, and more sustainable city for everyone.
By: Jacob Aggrey
Minister of Finance, Dr. Cassiel Ato Forson, has described the Ghana cedi as a proud symbol of the country’s identity and sovereignty as the nation marks 60 years since the currency was first introduced.
Speaking at the Cedi@60 celebration held today, October 28, 2025, at the Accra International Conference Centre, Dr. Forson noted that the currency represents more than just a means of exchange.
He mentioned that it is part of Ghana’s national pride and economic journey.
“It is my distinct honor to join you today as we mark 60 years of the Ghana cedi. The Ghana cedi represents the pride of our nation and our heritage,” he stated.
Dr. Forson explained that since its introduction in 1965, the cedi has played a vital role in trade and daily transactions, connecting people and supporting economic activity.
“For 60 years, through inflation, devaluation, re-denomination, and recovery, the cedi has remained resilient. It continues to stand as a symbol of our national sovereignty and remains the only legal tender of our republic,” he stressed.
He highlighted the endurance of the cedi through Ghana’s economic challenges and political transitions, noting that its continued existence reflects the resilience and determination of the Ghanaian people.
The event, themed “Cedi@60 – Our Money, Our Pride,” marks six decades since the introduction of the Ghana cedi, which replaced the British pound during the First Republic under President Dr. Kwame Nkrumah.
By: Jacob Aggrey
