Ghana’s Cedi Soars to New Heights: $10.6 Billion Reserves Fuel Economic Growth

Accra, Ghana – May 20, 2025

The Ghanaian Cedi has seen a remarkable rebound, thanks to robust foreign exchange inflows and deliberate policy measures aimed at stabilizing the economy, according to President John Dramani Mahama. Speaking at the Ghana-EU Business Forum in Accra, President Mahama attributed the Cedi’s improved performance to strengthened gross international reserves, which have surged from $8.9 billion in December 2024 to $10.6 billion by April 2025.

This upward trend, the President noted, reflects growing investor confidence and enhanced external financial buffers. The Ghana-EU Business Forum, themed “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy,” brought together key stakeholders from both Ghana and the European Union to discuss economic cooperation and investment opportunities.

Economic Growth Targets Within Reach

President Mahama highlighted the government’s determination to meet its economic growth targets for the year, citing fiscal consolidation efforts that have reduced the fiscal deficit from 7.5% of GDP in 2024 to 6.4% in the first half of 2025. The government is on track to meet its 2025 end-year target of 3.1% through expenditure rationalization, improved domestic revenue mobilization, and strong anti-corruption measures.

These figures, according to President Mahama, are clear signs of discipline and inclusive economic recovery. Trade with the European Union remains robust and neutrally beneficial, with the President assuring both local and international investors of his administration’s commitment to fostering a secure and enabling environment for investment.

Investor Confidence Boosted

President Mahama assured potential investors that Ghana is committed to transparent governance, policy predictability, and a reformed business environment. The government is restoring confidence in public procurement systems, enforcing contract sanctity, and protecting investor rights under both domestic and international legal regimes.

The President’s assurances have boosted investor confidence, with the Cedi’s surge reflecting the country’s growing appeal to investors. Ghana’s economic prospects look bright, with the government’s commitment to economic reform and transparency set to drive growth and development.

Key Economic Initiatives

Some key initiatives driving Ghana’s economic growth include.
24-Hour Economy Strategy: A policy intervention aimed at encouraging businesses to operate 24 hours a day, seven days a week, to create sustainable jobs and boost productivity.
Infrastructure Development: A US$10 billion ‘Big Push’ infrastructure program set to transform the country’s roads, railways, and energy systems.
Renewable Energy: Reforms promoting solar power and electric vehicle infrastructure, with efforts to achieve 100% gas utilization for power generation.
Agricultural Growth: Targeted initiatives like the Feed Ghana Programme and Grains Development Project to boost local agricultural production and reduce imports.

With these initiatives in place, Ghana’s economy is poised for significant growth, driven by a combination of robust policy measures and investor confidence. As the country continues to strengthen its economic fundamentals, investors are taking notice, and the future looks bright for Ghana’s economic development.

Source: Africa Publicity