The chamber called for urgent government intervention to avoid further disruptions
The Canada-Ghana Chamber of Commerce has expressed deep concern over the recent sharp appreciation of the Ghanaian cedi, warning that the rapid rise in the local currency’s value is severely affecting exporters and could have wide-ranging implications for Ghana’s trade and investment environment.
According to a report by myjoyonline.com on May 30, 2025, Chamber President Linda Vasnani revealed that several member exporters are experiencing significant financial losses due to the cedi’s unexpected strengthening.
“Many of our exporters are incurring losses because they are unable to adjust quickly to the cedi’s appreciation. It’s creating a real challenge for businesses, especially those that earn revenue in foreign currency but must meet rising local costs,” she explained.
Vasnani called for urgent government intervention, stressing the need to stabilise the exchange rate to avoid further disruption to export-oriented businesses.
“We’re appealing to the government to take the necessary steps to stabilise the cedi. While a stronger currency can have its benefits, the speed at which the cedi is appreciating has caught many businesses off guard, making export planning and operations difficult,” she said.
The cedi’s recent gains against major currencies such as the U.S. dollar have sparked debate among economists and industry stakeholders.
While the currency’s strength may help ease inflation and benefit importers, it is increasingly becoming a burden for exporters, particularly small and medium-sized enterprises now grappling with reduced profit margins and volatile revenue flows.
Currently, the dollar is buying at GH₵10.27 and selling at GH₵10.29.
ID/EB
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