President John Dramani Mahama has outlined a strategy to strengthen the Ghanaian cedi through increased domestic production, export diversification and disciplined economic management, insisting that the stability of the national currency must translate into tangible improvements in the lives of ordinary Ghanaians.
He says reducing Ghana’s dependence on imports while expanding its export capacity will help conserve foreign exchange, strengthen the country’s external position and make the cedi more resilient to global economic shocks.
Speaking at the official launch of the Ghana Cedi Heritage Series Banknotes at the Bank of Ghana’s headquarters in Accra, President Mahama emphasised that a stronger currency required a productive economy supported by sound fiscal and monetary policies.
“Expanding and diversifying our exports can bring in more foreign exchange. Producing more at home can reduce our dependence on imports,” he stated.
He explained that increasing agricultural production, expanding local manufacturing and processing Ghana’s resources into finished products would create employment while reducing pressure on the country’s foreign exchange reserves.
According to the President, these measures, combined with disciplined public finances and credible monetary policies, would establish the foundations for sustained currency stability.
He maintained that the benefits of a stronger cedi must be evident in the daily economic activities of traders, manufacturers and households.
For traders, he said, greater currency stability would improve certainty when ordering supplies, while manufacturers would be better positioned to plan investments and expand production.
Families would also benefit from greater confidence in the purchasing power of their incomes and savings.
“The strength of our currency must be felt in the everyday lives of our people,” President Mahama declared.
He linked the government’s economic ambitions to the New Economy Programme, which he said would expand Ghana’s productive capacity and strengthen the foundations of the national currency.
“I’m confident in the cedi’s future because I’m confident in the productive capacity of the Ghanaian people,” he stated.
President Mahama maintained that building a stronger and more resilient cedi would require sustained investment in Ghana’s productive sectors and responsible economic management.
