Slow down Cedi’s rise – Kuami Eugene pleads with Mahama

Musician Kuami Eugene [L] and President Mahama

Award-winning Ghanaian musician Kuami Eugene has taken to social media to humorously appeal to former President John Dramani Mahama to intervene in the rapid appreciation of the Ghanaian cedi against the U.S. dollar.

In a lighthearted but telling post shared on X (formerly Twitter), the 2020 Telecel Ghana Music Awards (TGMA) Artist of the Year voiced concern over the recent strength of the cedi, which has seen a significant gain in value since the beginning of April.

“We beg Pres. @JDMahama to slow down small — my dollar reserves are all going to waste. I’m happy and sad at the same time,” Kuami Eugene wrote, striking a balance between humor and economic frustration.

Since April 1, the Ghana cedi has appreciated sharply — climbing from GH₵15 to $1 to its current exchange rate of approximately GH₵10 to $1.

While the currency’s resurgence is being hailed as a sign of economic stabilization, it has drawn mixed reactions, particularly from Ghanaians abroad and local investors who keep reserves in foreign currency.

Many in the diaspora have expressed dissatisfaction, explaining that the strengthening cedi makes remittances and dollar-based transactions more expensive. Kuami Eugene’s post echoes the sentiment of those whose foreign-denominated savings or business transactions are losing value as the cedi rises.