President John Mahama has declared that the Ghanaian cedi is the best-performing currency in the world this year, as he urged Japanese businesses to seize new investment opportunities in Ghana.
Speaking at the Ghana Presidential Investment Forum on the sidelines of the 9th Tokyo International Conference on African Development (TICAD IX) on Wednesday, he said Ghana has restored macroeconomic stability and improved investor confidence.
“For those of you who know the history of the Ghanaian cedi, it’s been one of the most volatile currencies in Africa, and a few years back, we were said to be the worst-performing currency.
“I’m happy to announce that this year, the Ghana cedi has been the best-performing currency in the world,” he stated.
He pointed to falling inflation, recent sovereign credit upgrades, and wide-ranging reforms aimed at lowering the cost of doing business as clear signs of Ghana’s turnaround.
“Inflation rose to a high of almost 23% in 2024, and it’s currently down to 13.7% and we expect that by the end of the year, it will hit single digits.
“And as Simon said, we’ve been upgraded from junk status to B minus with a stable outlook, and I’m certain that in the next review, we’re going to be upgraded again,” he said.
Mahama positioned Ghana as a stable, democratic, and business-friendly hub in West Africa, stressing its role as host of the African Continental Free Trade Area (AfCFTA).
“So far, almost 50 African countries have signed agreements that allow us to export duty-free, tariff-free into each other’s markets. And once you register your product and it meets all the standards, you can export duty-free and tariff-free into each other’s markets,” he explained.
He added that Japanese investors could access a potential continental market of 1.4 billion people.
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