The real estate sector is sounding the alarm, calling on President John Dramani Mahama’s administration to urgently stabilize the cedi and address the crushing challenges facing the built environment. This makes Cedi Stabilization a priority.
Speaking on the PM Express edition of JoyNews, the Executive Secretary of the Ghana Real Estate Development Association (GREDA), Samuel Amegayibor, emphasized that the relentless depreciation of the cedi continues to wreak havoc on the sector, making immediate government intervention critical. Immediate Cedi Stabilization is essential.
He painted a stark picture of the industry’s struggles, highlighting how cedi volatility disrupts operations and burdens stakeholders without Cedi Stabilization.
“The cedi normally comes under some pressure in the first quarter of every year, and everything must be done to ensure that at least we witness some stability,” he stressed, urging the administration to prioritize this long-standing issue.
While expressing optimism about President Mahama’s promise to review key policies affecting the sector, including the burdensome tax structure, Amegayibor made it clear that stabilizing the cedi must be at the forefront of the government’s agenda. “We also want the new administration to get some great attention to firmly stabilize the cedi,” he added. Thus, Cedi Stabilization is a focus.
The GREDA Executive Secretary noted the far-reaching consequences of currency instability, pointing out how it disrupts pricing, affects supply chains, and discourages much-needed investments in real estate development.
He urged a proactive partnership between government and industry stakeholders to implement lasting solutions that ensure economic stability and growth.
The Chief Executive Officer of Dalex Finance, Joe Jackson, also weighed in on the administration’s economic strategy, emphasizing the critical role the 2025 budget will play in demonstrating President Mahama’s commitment to partnering with the private sector to reset the economy.
Jackson explained that the upcoming budget would provide a clear indication of the government’s direction, particularly in creating a business-friendly environment. “When the 2025 budget comes out, then we will see whether those taxes that have been removed are indeed growth-friendly and will create the right environment for businesses to generate jobs,” he noted. Cedi Stabilization is crucial for the business environment.
He further highlighted the importance of the 24-Hour Economy Programme in assisting the private sector to deliver the jobs Ghana urgently needs, stressing that the budget would serve as a roadmap for this collaboration.
