Dr Joshua Zaato is a Political Science lecturer at the University of Ghana
Political Science lecturer at the University of Ghana, Dr Joshua Zaato, has attributed the recent stabilisation of Ghana’s local currency, the cedi, to the achievements of the governing National Democratic Congress (NDC).
According to Dr Zaato, regardless of the underlying factors contributing to the strengthening of the cedi, the development is happening under the leadership of the NDC, and the party is justified in taking credit.
Speaking on TV3’s The Key Points programme on Saturday, August 2, 2025, he stated, “Whether it is luck or not, the appreciation is happening under the NDC; they can take credit for that.”
The cedi has sustained a period of relative stability against major foreign currencies, particularly the US dollar.
It opened August trading at GH¢10.50 to US$1 on the interbank market. At various forex bureaus, the cedi is currently selling at GH¢12.10 to one US dollar and GH¢16.30 to one British pound.
In a related development, the Bank of Ghana has reduced its benchmark policy rate by 300 basis points, from 28% to 25%.
The Central Bank Governor, Dr Johnson Asiama, cited improved macroeconomic conditions, easing inflationary pressures, and a stronger cedi as the basis for the rate cut.
The move is expected to reduce borrowing costs and stimulate private sector growth.
SA/MA
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