Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has urged businesses and consumers to abandon the practice of quoting prices in U.S. dollars, describing it as a direct threat to the strength and sovereignty of the cedi.
Speaking at the launch of the Cedi @ 60 celebrations at the Accra International Conference Centre, Dr. Forson said the milestone offered a chance to renew national pride in the local currency while deepening commitment to fiscal discipline and monetary stability.
“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 said.
The minister called the cedi “a symbol of national sovereignty” that has endured cycles of inflation, devaluation, and reform since its introduction in 1965. He said government policies in recent years have focused on rebuilding macroeconomic stability and restoring confidence in the domestic currency after a turbulent period marked by sharp depreciation and debt restructuring.
“As managers of the economy, we have remained steadfast in our duty to ensure a strong cedi and a very stable currency,” Dr. Forson said, reaffirming his ministry’s commitment to maintaining fiscal discipline and curbing deficit spending.
He cautioned that preserving stability requires collective responsibility, not only from government institutions but from citizens and the private sector alike.
“We must maintain the sanctity of the cedi by preserving it with dignity and protecting it jealously,” he said.
The minister’s remarks come amid a period of renewed optimism about Ghana’s economy. The cedi has appreciated over 37% against major currencies this year, making it the best-performing currency in Sub-Saharan Africa, according to World Bank data. Inflation has slowed to single digits, while international reserves have climbed to around US$12 billion.
Dr. Forson linked these improvements to a combination of tight monetary policy, fiscal restraint, and restored investor confidence, but warned against complacency. He argued that the continued use of foreign currencies in domestic pricing undermines these gains and weakens the country’s monetary independence.
“The Ghana cedi is our legal tender. The U.S. dollar is not our currency,” he emphasized. “Let us protect it, trade with it, and defend it with all that is within us.”
He further called on Ghanaians to see the cedi not as a burden but as “a badge of economic independence” urging that its preservation be treated as a national duty shared by government, business, and citizens alike.
