Alban Bagbin is the Speaker of Parliament
The Speaker of Parliament, Alban Kingsford Sumana Bagbin, has praised the government for its dedicated efforts in stabilising the national currency, acknowledging the cedi’s recent marginal appreciation against the US dollar and other international currencies.
According to Speaker Bagbin, the recent appreciation of the cedi and its continued stability offer significant relief, especially in light of its poor performance in previous years.
He described the development as encouraging, noting that it creates an opportunity for traders to review and potentially reduce the prices of goods and services.
“It is a big relief as the Ghana cedi is surging in value against almost all other currencies in the world and becoming competitive again. It is refreshing that cross-border traders are already saving on the upward surge in the value. For the first time in a long while, traders have room to review the prices of their goods and services downward and people are more willing to invoice and receive payments in cedis,” he wrote on Facebook on Friday, May 9, 2025.
Bagbin further noted that the potential downward review of prices, driven by the cedi’s improved performance and its growing competitiveness against other currencies, will positively impact the lives of Ghanaians.
Attributing these positive developments to the government’s reset agenda, Bagbin called on Ghanaians to work collaboratively with the government in its efforts, emphasising that such unity and support remain essential for the nation’s progress and collective well-being of citizens.
“This, coupled with competitive tendencies will make the gains in the cedi soon reflect on the general prices of goods and services for the benefit of all Ghanaians. Inspiringly, these are only a few months in the reset agenda. Let’s keep pushing to make Ghana and Africa great,” he said.
The former lawmaker’s remarks follow a recent Bloomberg report, which highlighted the cedi as the world’s best-performing currency, noting a 16% appreciation against the US dollar since April 2025.
MAG/VPO
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