Cedi's strong performance brings relief to traders - Speaker Bagbin

Speaker of Parliament, Alban Kingsford Sumana Bagbin, has highlighted the positive impact of the recent surge in the value of the Ghanaian cedi, describing it as a major relief for businesses and a potential beacon for economic growth.

In a Facebook post on Friday, May 9^th, Speaker Bagbin noted that the strengthening local currency is beginning to restore confidence in Ghana’s economy, with cross-border traders already noticing tangible benefits.

“It is a big relief as the Ghana cedi is surging in value against almost all other currencies in the world and becoming competitive again. With this, Ghana’s economy can be a favourite investment destination,” he wrote.

He emphasized that the rising strength of the cedi is encouraging many traders to reduce prices and even invoice in the local currency, giving consumers and businesses more room to operate.

“For the first time in a long while, traders have room to review the prices of their goods and services downward, and people are more willing to invoice and receive payments in cedis,” he stated.

Speaker Bagbin expressed optimism that if the current trajectory is maintained, the overall cost of goods and services will soon reflect the gains made by the currency.

“These are only a few months in the reset agenda. Let’s keep pushing to make Ghana and Africa great!” he said, referencing ongoing efforts to restore Ghana’s economy.

The Speaker’s comments follow a recent Bloomberg report, which highlighted the cedi as the world’s best-performing currency, noting a 16% appreciation against the US dollar since April 2025.