Ghana’s cedi could appreciate to GH¢10 against the US dollar if government policies such as the 24-hour economy initiative and agricultural modernization achieve their goals, financial economist Professor Lord Mensah has projected.
The currency currently trades at GH¢15 in Accra forex bureaus and GH¢14.15 officially, according to the Bank of Ghana, marking a modest recovery from its GH¢16 low earlier this year.
Mensah linked the cedi’s stabilization to fiscal discipline under the current administration. In a May 3, 2025, social media post, he wrote, “The cedi is appreciating due to fiscal consolidation and financial discipline. Once the 24-hour economy and agriculture policies take effect, the cedi will sell at 10 cedis to the dollar.” His remarks, originally posted in full capitalization on X (formerly Twitter), highlight cautious optimism among analysts about Ghana’s economic trajectory.
While some observers initially tied the cedi’s rebound to global dollar trends, Mensah emphasized domestic factors, including reduced government spending and investor confidence in flagship programs. The 24-hour economy policy, designed to extend commercial activity across sectors, aims to curb unemployment and attract foreign investment. Parallel agricultural reforms targeting export growth and food security could further stabilize the currency by reducing import reliance.
Economists warn, however, that sustained gains depend on consistent policy execution and external variables such as commodity prices and global financial conditions. Achieving GH¢10 to the dollar a psychological milestone would require prolonged macroeconomic stability, a challenge for emerging economies navigating post-recovery phases.
Ghana’s strategy mirrors approaches seen in nations like Rwanda, which stabilized its currency through targeted reforms after periods of economic turmoil. Such efforts often hinge on balancing domestic priorities with external pressures, including fluctuating demand for key exports like cocoa and gold. As debates continue over the feasibility of Mensah’s forecast, analysts stress that rigorous implementation and adaptability to geopolitical uncertainties will determine whether these policies translate into lasting resilience. The coming months are likely to test Ghana’s ability to sustain momentum while addressing structural vulnerabilities in an increasingly volatile global market.
The cedi is just appreciating on the heels of fiscal consolidation and financial discipline by the current administration. By the time 24-hour economy and agriculture policies kick in, the Cedi will be selling at 10 Cedis to the dollar. Let me go change my dollars, quick.