Ghana’s Cedi Surges in 2025: Strongest Currency in West Africa Defies Odds
May 14, 2025 – Accra, Ghana
Ghana’s national currency, the cedi, has made a remarkable comeback in 2025, emerging as West Africa’s best-performing currency amid regional economic uncertainty. The cedi’s appreciation is driven by a mix of fiscal discipline, rising foreign reserves, and renewed investor confidence.
After a turbulent 2022 and 2023 when the cedi was among the worst-performing currencies globally, Ghana has turned the tide. In the first five months of 2025, the cedi has gained over 10% against the U.S. dollar, outpacing regional peers such as Nigeria’s naira and the CFA franc used in eight West African nations.
Economists attribute the turnaround to the government’s strict implementation of International Monetary Fund (IMF) reforms, a rebound in oil and gold exports, and enhanced tax compliance that has boosted revenue. Additionally, the Bank of Ghana’s proactive monetary policies have helped stabilize inflation, encouraging both local and foreign investors.
“Ghana’s cedi is the comeback story of 2025,” said Kofi Asare, a senior economist at West Africa Research Institute. “It shows what’s possible when fiscal discipline meets smart economic strategy.”
The cedi’s rally has also brought relief to households and businesses, easing import costs and helping curb inflation, which had previously reached double digits.
With the currency’s strong performance, Ghana is now being watched closely as a potential model for economic resilience in sub-Saharan Africa
