President John Dramani Mahama has described the Ghanaian cedi as a powerful emblem of the nation’s strength and endurance, stating that the currency has “absorbed shocks… and symbolised the resilience of the Ghanaian economy and the Ghanaian people” throughout its six-decade journey.
He said this when he delivered the keynote address at the Cedi@60 Anniversary Currency Conference yesterday, hosted by the Bank of Ghana, in partnership with Currency Research at the Accra International Conference Centre.
The President noted that the 60th anniversary of the cedi is not merely a ceremonial milestone but a defining moment to reflect on the currency’s evolution and its role in Ghana’s future.
He stressed that the cedi’s introduction 60 years ago was a bold assertion of Ghana’s identity and sovereignty, marking a young nation’s determination to manage its own monetary destiny.
“The Cedi at 60 is, therefore, more than just a celebration. It is a chance to consider what our currency stands for, how it has developed and how it must be fortified for the years ahead,” he said.
According to the President, the cedi has played a central role in shaping expectations of households and businesses, supporting policymaking and reflecting the country’s broader economic journey.
Over the decades, he said, the currency has weathered domestic, regional and global disturbances while remaining a core anchor of Ghana’s financial system.
President Mahama also highlighted Ghana’s recent economic progress, pointing to improvements in macroeconomic stability achieved over the past ten months.
These gains, he explained, were driven by disciplined fiscal consolidation, enhanced domestic revenue mobilisation, expenditure rationalisation and stronger coordination between fiscal and monetary authorities. As a result, inflation has continued to decline and market expectations have stabilised.
He further referenced the cedi’s recent exchange rate stability, attributing it to improved forex liquidity management, stronger reserve buffers and regulatory reforms undertaken by the Bank of Ghana.
These developments, he said, have boosted business confidence and strengthened the nation’s credibility.
The President noted that this confidence had been affirmed internationally after Ghana’s sovereign credit rating was upgraded by S&P Global from CCC+/C to B–/B with a stable outlook.
He reaffirmed the government’s commitment to preserving the independence of the Bank of Ghana, stating that an autonomous central bank remains vital for controlling inflation, maintaining exchange rate stability, enhancing investor trust and ensuring long-term policy credibility.
“This is not a matter of personal preference. It is an economic necessity,” he stressed.
The President urged the central bank to intensify public education on responsible currency use, handling practices and financial literacy, emphasising that using the cedi in domestic transactions helps strengthen economic stability and reduces exposure to exchange rate volatility.
He also encouraged broader engagement across schools, markets, transport unions, digital platforms and rural communities.
In his welcome address, Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, said the Cedi@60 conference deepens national reflection on a currency that continues to shape Ghanaian life across generations.
He noted that the cedi carries history, meaning and a collective identity, tracing its origins to a young republic seeking to chart its own economic course.
“Over the decades, it has mirrored Ghana’s triumphs and struggles – periods of progress, bold reforms, and moments of hardship that tested the resilience of our institutions and our people,” he said.
Dr. Johnson Asiama explained that the cedi remains ever-present in the daily lives of Ghanaians, circulating through markets, farms, shops and transport hubs and supporting families, communities and businesses.
Looking ahead, he said younger generations will interact with the cedi in increasingly digital environments, where expectations of convenience, transparency and accountability continue to grow.
He emphasised the need to ensure the cedi retains its relevance and value in a world where technology, artificial intelligence, and digital payments are reshaping monetary systems.
He reaffirmed the Bank’s commitment to strengthening the cedi as the unquestioned medium of exchange and tackling pressures from currency substitution and dollarisation.
He added that ongoing efforts in payments modernisation, including work on the eCedi, reflect the country’s intention to build secure, interoperable and future-ready currency systems.
The Bank of Ghana Governor described the conference as a vital platform that brings together central bankers, payment specialists, currency designers, security experts, academics and industry leaders to examine the future of money.
The collaboration, he said, is essential because the issues shaping modern currencies extend across borders and disciplines.
He expressed appreciation to Currency Research and all international and domestic partners for supporting Ghana’s financial sector reforms, adding that protecting the cedi must be seen as “a shared endeavour rooted in our belief in Ghana’s future.”
