BoG Governor assures investors of stability and growth
By Ernest Afram
The Governor of the Bank of Ghana, Dr. Johnson Asiama, has delivered a compelling case for increased investor confidence in Ghana’s economy, declaring that the country is back on a credible path to recovery and long-term stability.
Speaking at a high-level private investor roundtable organized by Invest Africa in partnership with Standard Chartered, on the sidelines of the African Development Bank (AfDB) Annual Meetings in Abidjan, Dr. Asiama said Ghana’s economic indicators are turning around, anchored by bold reforms and coordinated macroeconomic policies.
“At the start of 2025, Ghana was at an economic crossroads,” the Governor said. “But today, I am pleased to report that the tide is turning.”
Dr. Asiama outlined key gains made in recent months, including a 21.5% year-to-date appreciation of the cedi, a decline in inflation from 23.8% in December 2024 to 21.2% in April 2025, and a strong international reserve position of US$10.67 billion, equivalent to 4.7 months of import cover.
Real GDP growth stood at 5.7% for 2024 and is projected at 4.0% for 2025. The first quarter of the year recorded a current account surplus of US$2.12 billion, driven by strong performance in gold and cocoa exports.
“These gains are not accidental; they reflect deliberate action, tight monetary policy, disciplined fiscal reforms, and close coordination between the Bank of Ghana and the Ministry of Finance,” he said.
The Governor also addressed the cedi’s stability, arguing that the appreciation is driven by strong fundamentals such as the Gold-for-Reserve program, increased exports, and sustained remittance flows—not speculative forces.
He warned that the era of unregulated foreign exchange transactions and market volatility was over, noting, “The market has changed. The narrative has changed. And the policy environment has changed.”
Beyond the numbers, Dr. Asiama highlighted Ghana’s readiness to attract sustainable investment. Sectors including green energy, digital innovation, manufacturing, and agribusiness were listed as areas primed for private capital.
“Investors are not just looking for returns—they are looking for stability, governance, and strategic alignment. Ghana offers all three,” he said.
On the monetary policy front, the Governor revealed that the Monetary Policy Committee had voted to maintain the policy rate at 28%, reinforcing the Bank’s commitment to price stability and inflation control.
He also used the platform to advocate for stronger regional financial integration and harmonized regulatory frameworks to support Africa-wide investment, particularly under the African Continental Free Trade Area (AfCFTA).
“As we deepen structural reforms, we welcome private investors to become partners in Ghana’s long-term economic transformation,” he concluded. The roundtable formed part of the broader AfDB Annual Meetings, held under the theme ‘Making Africa’s Capital Work Better for Africa’s Development.’
