Finance Minister, Cassiel Ato Forson, has urged citizens and businesses to act as vanguards of the Ghana cedi, warning that persistent reliance on foreign currencies for pricing and transactions could undermine economic stability.
Speaking at the Cedi @ 60 celebrations at the Accra International Conference Centre, Dr. Forson highlighted the 60-year journey of the cedi, noting its resilience through periods of inflation, devaluation, re-denomination, and structural reforms. He framed the milestone as both a celebration of national sovereignty and a call to maintain public confidence in the local currency.
“We must be vanguards of the Ghana Cedi, not violators of its value,” Dr. Forson said, urging citizens to treat the currency with respect and use it consistently in daily transactions.
The minister also addressed the growing trend of quoting prices in U.S. dollars, emphasizing that such practices erode the cedi’s purchasing power and threaten Ghana’s monetary independence.
“The continuous pricing of goods and services in U.S. dollars will only hurt us. Let’s stop it now. The cedi is the only currency we have,” he warned, appealing to businesses and consumers to transact exclusively in cedis.
Dr. Forson highlighted government measures to reinforce the currency, including fiscal discipline, tight monetary policy, and regulatory oversight, which have stabilized the cedi and gradually restored investor confidence.
“As managers of the economy, we have remained steadfast in our duty to ensure a strong cedi and a very stable currency,” he added, underscoring the shared responsibility between institutions and citizens to protect Ghana’s financial integrity.
The Finance Minister stressed that a stable cedi benefits all sectors of the economy, farmers, businesses, households, and the public sector, by providing predictable costs, salaries, and prices. He called for collective action to uphold the legal tender status of the cedi and to strengthen the public’s trust in Ghana’s monetary system.
Dr. Forson emphasized that the cedi is not only a functional medium of exchange but also a badge of national pride and economic independence, urging Ghanaians to protect it for future generations.
