GNCCI calls for stronger measures to stabilise cedi
The Ghana National Chamber of Commerce and Industry (GNCCI) has urged government to intensify measures aimed at stabilising the exchange rate, arguing that sustained stability is essential for improving living standards, boosting investor confidence and securing long-term economic growth.
Speaking at the Czech–Ghana Business Cooperation Seminar in Accra on Tuesday, 2 September 2025, the National Treasurer of GNCCI, Michael Kabutey Caesar, cautioned that any sharp depreciation of the cedi could erode business competitiveness and undermine government revenue generation.
“The President once indicated that the target was to peg the exchange rate between GHS10 and GHS12 to the dollar. I would be concerned if it escalates beyond that. I want to believe the government is monitoring the situation and will act to prevent a return to the high levels we experienced in the past,” he noted.
Mr Caesar stressed that the impact of exchange rate volatility is felt across multiple fronts, affecting the cost of imports, the profitability of exporters and the state’s ability to mobilise revenue at the ports.
“There should be a win-win situation for importers, exporters and government taxation. At the moment, the government is not generating much tax revenue from the ports, but striking a balance is necessary and I am confident steps are being taken in that direction,” he added.
The GNCCI has long maintained that macroeconomic stability, particularly exchange rate predictability, is critical for Ghana’s private sector.
The Chamber argues that when businesses can plan with certainty, they are better positioned to expand, create jobs and take advantage of regional opportunities under the African Continental Free Trade Area (AfCFTA).
The Czech–Ghana Business Cooperation Seminar, organised to strengthen bilateral trade and investment links, brought together Ghanaian businesses and Czech investors exploring partnerships in manufacturing, agriculture and energy.
The Chamber used the occasion to restate its commitment to supporting government policies that encourage stability while pressing for practical solutions to protect the private sector from exchange rate shocks.
