Cedi Appreciation: Stability Key for Ghana's Economy, Says AGI President

Ghanaian Cedi Appreciation: Stability Trumps Fluctuation, Says AGI President The Ghanaian cedi has recently experienced an appreciation against the US dollar, a development that has sparked debate among economists and business leaders. In a recent interview with JoyNews, Tsonam Akpeloo, President of the Greater Accra Association of Ghana Industries (AGI), offered his perspective on the matter. The interview, filmed in Accra, Ghana, took place on May 29, 2025, and focused on the long-term implications of cedi appreciation. Akpeloo emphasized the importance of stability over short-term fluctuations. "It is not just about appreciation; what matters most is long-term stability," he stated. This sentiment highlights a key concern for businesses: the need for predictability in currency exchange rates to facilitate effective planning and investment decisions. The AGI president explained that consistent stability allows industries to accurately forecast costs and manage their operations more efficiently. The cedi's appreciation has brought benefits, particularly for importers who can now purchase raw materials more cheaply. However, Akpeloo also acknowledged the potential negative consequences for exporters, whose revenues might be affected by the stronger cedi. He stressed the need for a balanced approach to managing the currency, ensuring that both importers and exporters can thrive in a stable economic environment. The AGI's focus remains on long-term stability to support sustainable economic growth in Ghana. The interview provides valuable insights into the complexities of managing a national currency and the importance of striking a balance to foster economic prosperity. It underscores the AGI's commitment to a stable and predictable economic climate for Ghanaian businesses.