President Mahama targets cedi stability within 5% depreciation annually

President John Dramani Mahama outlined Ghana's economic policy on currency stability at the Kwahu Business Forum 2026. He stated that the government aims for a cedi that depreciates by less than 5% annually. This is to create a predictable environment for businesses and investors.

A stable cedi helps businesses plan better. It also reduces the cost of duties and levies on imports, which are often priced in dollars. The President noted that in 2024, importers paid GHS15 or GHS16 per dollar. Today, the cedi cost is lower. This means import duties are also lower, reducing incentives for under-declaring goods.

The government is also using digital methods and Artificial Intelligence in customs processes. Ghana's customs system is used in 21 other countries. It aims to make customs work faster and reduce mistakes or fraud. An appeal system is in place for importers who believe they have been overcharged.

President Mahama highlighted a concern for exporters. A stronger cedi can mean exporters get fewer cedis for their dollar earnings. He stressed that the government's goal is not a strong cedi, but a stable and predictable one. This stability is important for investor confidence and overall economic growth.