Something remarkable is happening in Ghana. For the first time in a long while, the Ghanaian cedi is not in the news for its decline but for its dominance. According to Bloomberg, the cedi is currently the best-performing currency in the world, appreciating by nearly 16% against the US dollar since April 2025.
This development has sparked interesting conversations about the need for prices of goods and services to decrease. All we need now is consistent and steady growth and a stable currency.
Inflation is trending downward, with April figures showing a drop to 21.2% from 22.4% in March. There is a renewed sense of hope that the Ghanaian economy is on the rise. However, something is missing. These gains must be felt in the markets, at fuel pumps, and in the pockets of ordinary Ghanaians.
At a time when the macroeconomic outlook is finally shifting toward stability, the expectations of ordinary Ghanaians must align too. This is about fairness. When the cedi depreciated in the past, businesses, both large and small, were swift to respond by increasing prices. Prices of imported goods rose almost overnight, and transport fares went up. Traders cited the inconsistent exchange rate as the rationale for price hikes, and understandably so. But now, with the cedi on the rise and the dollar down, logic and fairness dictate that those prices should decrease – not remain the same, and certainly not increase further.
That is why the recent announcement by Orca Deco, a popular home and office furniture company, to reduce prices by 15% in response to the cedi’s strength deserves praise and attention. In their own words, they believe this is the right moment to pass on the benefit to their cherished customers. Orca Deco did not wait for pressure from the public or hide behind logistics or stock turnover excuses. Instead, they acted on principle and, in doing so, set an example for the rest of the business community.
If we can increase prices when the cedi weakens, we must be willing to reduce prices when the cedi strengthens. That is what equity demands, and that is what ethical business practice looks like.
But Orca Deco should not stand alone. Where are the rest? Where are the importers who once blamed the dollar for every increase? Where are the fuel distributors who adjusted prices upward with every cedi slide? Where are the traders who passed on every economic slump to consumers?
There must be a sense of shared responsibility in how we respond to economic change. The strength of a nation’s currency should not merely be a talking point for economists or the finance minister; it must translate into tangible impact for citizens.
We are calling on all sectors of the Ghanaian economy – from retailers, service providers, importers, and manufacturers to transport unions – to reassess your pricing models. Your pricing must reflect the reality of our currency.
Importantly, consumers too must raise their voices, ask hard questions, and demand transparency and accountability. Let us not celebrate the cedi’s strength in headlines only to deny its impact on ordinary Ghanaians.
It is time for a reset – not just of our economy but of our mindset. As President John Dramani Mahama has consistently advocated, Ghana needs a leadership approach rooted in trust, fairness, and people-centered governance. The same must apply to our business culture. In this legacy term of service, our vision is clear: economic transformation not only in GDP figures but in market stalls, on supermarket shelves, in daily transportation costs, and services.
That is the Ghana we must strive for, and that is the fairness that must accompany every cedi gained.
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About the Author:
Joyce Bawah Mogtari is a lawyer, former Deputy Minister of Transport, and Presidential Adviser & Special Aide to HE President John Dramani Mahama.
