The Vice-President, Prof. Jane Naana Opoku-Agyemang, has called for a renewed commitment to fiscal discipline, agricultural value addition and the empowerment of small and medium-sized enterprises (SMEs) as key reforms necessary to sustain the recovery of the Ghanaian cedi and strengthen the economy.
Speaking at the 14th Business and Financial Times (B&FT) Business and Economic Forum held in Accra on Tuesday, the Vice- President said the cedi’s recent recovery reflected the outcome of “deliberate and disciplined choices” rather than coincidence or luck.
“The cedi has strengthened significantly, recovering from turbulence a few years ago when it was deemed one of the weakest currencies globally.
“Inflation has slowed to 9.4 percent, our gold reserves have multiplied, and agreements with creditors have eased debt distress. “These are not miracles, they are the results of prudent management and sound financial reforms,” she said.
Prof. Opoku-Agyemang commended the Bank of Ghana, Gold Board and Cocoa Board for implementing measures that have boosted investor confidence and strengthened Ghana’s reserves. She, however, cautioned against complacency, stressing that the next phase of the recovery required value addition to local production and sustained fiscal discipline.
“The cedi will never be as strong as it should be if we continue to export cocoa beans instead of chocolate, bauxite instead of aluminium and gold dust instead of finished
products,” she said, adding that “every stage of processing that happens in Ghana
strengthens our currency, creates jobs and adds to our dignity as a people.”
She also underscored the need to empower young entrepreneurs and SMEs, describing
them as the “lifeline of the economy.”
She called for targeted financial support, training and reduced lending risks to encourage
innovation and entrepreneurship. “Stability is not a gift; it is a sign of discipline. It is built on habits such as paying taxes regularly and honestly, producing more than we consume, and demanding accountability from ourselves and others.”
The Vice-President further noted that sustainable currency value depended on collective
effort — from policymakers to ordinary citizens and on the courage to make
“difficult but necessary choices for longterm stability.”
Chairman of the Forum, Eddy Annan, urged participants to use the platform not just to discuss economic challenges, but to propose practical solutions, particularly in the agriculture sector. He said value addition in agriculture should be a central pillar of
Ghana’s economic transformation.
On his part, Dr. Godwin Acquaye, Chief Executive Officer of B&FT, highlighted that a stable currency fosters a favourable business climate, attracts long-term investors, and enhances household welfare. “After years of weakness, we are now witnessing a turnaround. This year alone, the cedi has appreciated by more than 37 percent.
“The Ghana Economic Forum has always been a place where dialogue leads to development, and we continue that tradition today,” Dr Acquaye said. This year’s forum, held under the theme “Currency Stability and Research for Sustainable Economic Growth,” featured three key sessions focused on the economy, energy and agriculture, all aimed at shaping Ghana’s policy direction and reinforcing resilience in the face of global economic challenges.
