Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has urged Ghanaians to view the Cedi@60 anniversary not merely as a celebration of longevity, but as a renewed national journey of rediscovery, economic discipline, and collective pride in the symbol of Ghana’s sovereignty.
Speaking at the official launch of Cedi@60 at the Accra International Conference Centre, Dr. Asiama said the milestone “is more than a ceremonial commemoration, it is a moment for Ghana to pause, reflect, and reaffirm the values that define our nation’s economic journey.”
“When we celebrate the cedi,” he said, “we celebrate our journey towards economic independence and national confidence.”
Tracing the history of the national currency, the Governor recounted how the introduction of the cedi in July 1965 replaced the Ghana pound, representing the assertion of full economic sovereignty after independence.
He highlighted the currency’s transformation through the redenomination in 1967 and the modernization in 2007, both aimed at simplifying transactions, enhancing security, and aligning Ghana’s currency with international standards.
Dr. Asiama noted that behind every note and coin lies “a history of bold decisions, economic shocks, and the aspirations of a sovereign people.” He described the cedi as “a trusted store of value, a driver of economic activity, and a daily emblem of national confidence.”
Reflecting on Ghana’s recent economic challenges, the Governor acknowledged the country’s struggles through inflation, currency depreciation, and the debt exchange crisis of 2022, describing it as “one of the most complex economic storms in a generation.”
He credited President John Dramani Mahama’s leadership and decisive fiscal actions for steering the economy toward recovery: “Under this administration, we have turned a decisive corner,” Dr. Asiama declared, adding that: “Inflation has declined to 9.4 percent, the cedi has appreciated by thirty seven percent, and our international reserves have risen to around $12 billion, providing a robust buffer against external shocks.”
He emphasized that these gains were “not by accident, but the result of hard, and sometimes unpopular, policy choices anchored in fiscal discipline and sound monetary management.”
Cedi@60: Education, Reflection, and Inclusion
Dr. Asiama outlined a year-long calendar of activities under the Cedi@60 initiative, including public lectures, exhibitions, school outreach, diaspora engagements, and community forums aimed at deepening public understanding of the cedi’s history and importance.
He stressed that the campaign would extend beyond Accra, reaching classrooms, marketplaces, and boardrooms across all regions to reconnect citizens, young and old, with the story of Ghana’s economic identity.
“The story of the cedi is the story of Ghana itself; a story of resilience, innovation, and pride,” he affirmed.
In closing, the Governor paid tribute to Dr. Kwame Nkrumah, Ghana’s first President, and to the early visionaries and Bank of Ghana pioneers whose foresight shaped the country’s financial foundation. He also expressed gratitude to the Ministry of Finance, sector agencies, and Ghanaians whose confidence continues to sustain the currency.
“At the end of the day,” Dr. Asiama concluded, “it is your trust that gives the cedi its strength. May this celebration renew our collective commitment to a safe, strong, and stable cedi that works for all Ghanaians. Long live the cedi and long live the Republic of Ghana.”
