File photo of a cedi note
The central bank on Tuesday, October 28, 2025, launched a year-long celebration marking six decades of the national currency, describing the cedi as a symbol of economic resilience and national identity following years of volatility and recovery.
The ‘Cedi@60’ initiative, themed ’60 Years of the Cedi: A Symbol of Sovereignty, Stability and Economic Resilience’, aims to deepen public understanding of the currency’s role in Ghana’s development.
The Bank of Ghana (BoG) said this programme will include exhibitions, school engagements, public lectures and community forums across the country.
Speaking at the national launch in Accra, BoG Governor Dr. Johnson Pandit Asiama said the milestone is not just a commemoration of the past but also a reflection on Ghana’s economic journey and progress toward stability.
“The cedi is far more than a currency,” he said. “It is a trusted store of value, a driver of economic activity and a daily emblem of our collective confidence.”
He noted that the cedi’s six-decade evolution – from the 1965 replacement of the Ghanaian Pound to the redenominations of 1967 and 2007 – reflects Ghana’s continuous effort to modernise its financial system and preserve monetary sovereignty. Each phase, he added, represents a story of resilience, innovation, and adaptation to global changes.
Dr Asiama acknowledged that the cedi’s journey mirrors Ghana’s broader economic history, marked by challenges including inflation spikes, debt distress and currency depreciation.
“The cedi’s story cannot be separated from the story of our economy,” he said, citing the severe depreciation in 2022 when the cedi lost more than half its value, inflation peaked at 54% and household budgets came under strain.
“But that was not the end of our story,” he added, crediting policy coordination under President John Dramani Mahama for helping to restore stability. Inflation has since fallen to 9.4 percent as of September 2025, while the cedi has appreciated by 37 percent this year – making it the best-performing currency in sub-Saharan Africa, according to World Bank data. Ghana’s international reserves now exceed US$12billion, providing a buffer against external shocks.
Dr. Asiama said the gains reflect disciplined fiscal management and a tight monetary stance, though he cautioned against complacency.
“We are not yet where we want to be, but we are no longer where we were,” he said. ‘Cedi@60’ is not just ceremonial, it reminds us of how far we’ve come and challenges us to protect what we have gained.”
Vice President Prof. Naana Jane Opoku-Agyemang, who delivered a keynote address, described the cedi’s turnaround as evidence of policy credibility and national resilience.
“According to Bloomberg, the cedi – the world’s worst-performing currency in 2022 – became the best-performing in 2025,” she said. “Inflation dropped sharply and reserves rose above US$12billion.”
She called for continued fiscal prudence, stressing that confidence in the cedi “will not sustain itself” without sound decisions and transparent governance. “Government must lead by example; no more reckless borrowing or deficits that burden future generations,” she said.
She urged respect for the central bank’s independence and the cedi’s legal tender status.
Prof. Opoku-Agyemang also highlighted the role of digital finance in sustaining confidence, noting BoG’s progress with the eCedi – a central bank digital currency.
“Once fully scaled, the eCedi will modernise payment systems and ensure that even in a cashless future the cedi retains its importance,” she said.
The year-long Cedi@60 programme will blend history, education and technology to strengthen public trust in the national currency.
“A currency stands strong not because of what it’s printed on,” Dr. Asiama said, “but because the people who use it believe in it.”
