As Ghana marks the launch of the Cedi@60 anniversary celebration, Dr. Cassiel Ato Forson, the Minister of Finance, called on all citizens to end the dollarization of the Ghanaian economy, emphasizing that a new dawn has come.
During his speech at the launch of the Cedi@60 anniversary celebrations at the Accra International Conference Centre, the Minister entreats Ghanaians to hold the Cedi in high esteem because it is a sacred heritage of the country.
He admonished Ghanaians that their handling of the currency in the exchange of goods and services must reflect the Cedi’s value. He also reminded Ghanaians of the role they play in preserving the currency and the value of the Ghana Cedi.
“We must maintain the sanctity of the Cedi as a legal tender, by preserving it with dignity and protecting it jealously. We must all be vanguards of its value, by eschewing acts that seek to undermine its value, particularly the pricing of goods and services in foreign currencies.”
Dr. Cassiel Ato Forson, Minister of Finance
He prompted Ghanaians that “the US dollar is not our currency,” adding that “the continuous pricing of goods and services in US dollar will only hurt us [Ghana]. Let’s stop it!” He exclaimed forcefully again that the Ghanaian’s posture towards the Cedi should be to ‘protect it,’ ‘trade with it,’ and ‘defend it.’
He urged that Ghanaians must have a sense of pride when transacting with the Ghana Cedi by remembering that it is a symbol of Ghana’s independence.
Cycles of the Ghana Cedi
The Ghana Cedi, like all currencies, has passed through different economic phases over the past 60 years. Dr. Ato Forson proudly emphasized that, yet “the Cedi has remained the symbol of our national sovereignty.”
The Ghanaian Cedi recorded its highest year-on-year headline inflation of 125.99% in January 1984, and its lowest year-on-year headline inflation of 1.14% in May 1985. Between these two levels is a series of inflationary fluctuations. In recent times, the highest year-on-year inflation recorded was 53.60% in 2023. Ghana has survived cycles of inflation to record 9.4% in September 2025.
The Ghanaian currency has also been devalued due to many occurrences of high inflation in the country’s history. However, the Ghana Cedi has always gotten back up.
The Ghanaian currency has also experienced redenomination. On July 1, 2007, the Ghanaian currency was redenominated, where four zeros were cancelled. That is, ten thousand cedis became equivalent to one Ghana cedi.
Through all of these conditions, the Ghana cedi has recovered, even from the worst crises it has faced. The currency has “endured, evolved, and remains the only tender of our Republic,” the Finance Minister declared.
Citizen’s Declaration
As the theme for the celebration echoes, “60 years of the Cedi: A symbol of our Sovereignty, Stability and Economic Resilience,” Ghanaians must be ready for the new phase in the country’s journey, Dr. Ato Forson declared.
As such, Dr. Forson stressed the need for all citizens of Ghana “to have faith in our [Ghana’s] dear currency, the Cedi.” Faith that the Cedi can serve the country well because it has withstood all storms to this point and today stands strong.
The managers of the economy, he reminded, should be continuously steadfast as they are the custodians of the country’s heritage, especially the Cedi. They must be resolute in executing their duties in ensuring a strong and stable Cedi.
The Finance Minister declared that the government’s “fiscal discipline has contributed to the strengthening of the currency,” adding that the government “remains committed, and we [the government] shall stay the course to ensure that the Cedi’s gains are maintained.”
The toughness of the Ghana Cedi reminds all citizens that it can be trusted. The Minister reiterates that the Cedi is more than a store of value: it makes transactions possible, boosts trade, serves as a commonality between different groups under Ghana’s jurisdiction, and it is accepted by Ghanaians in exchanges.
“Since 1965, the Cedi has not just been a store of value, but an integral part of our heritage. From the days of our first Republic, throughout our history, to 33 years of uninterrupted democracy, the Cedi has remained resilient. It has been our medium of exchange, facilitating trade, transactions and connecting people.”
Dr. Cassiel Ato Forson, the Minister of Finance
According to the Minister, this celebration is a call to rededication, a new beginning, and a new dawn, to rebuild the Ghana we want.
READ ALSO: President Mahama Announces State Funeral for Former First Lady, Nana Konadu Agyeman-Rawlings
