Traders in Koforidua who engage in cross-border trade with Togo have lauded the government for the recent stability of the Ghana cedi, which they say has breathed new life into their businesses.
According to them, the sharp depreciation of the cedi under the previous administration — from GHC6 to as high as GHC28 against the CFA franc— caused severe disruptions to their operations, leading to the collapse of many small-scale businesses.
However, they say the situation has significantly improved, with the cedi now trading at around GHC21 to the CFA since President John Dramani Mahama took office earlier this year.
The traders are however urging government to ensure sufficient supply of CFA in official forex bureaus to eliminate dependence on the black market.
Their appeal comes ahead of the presentation of the Mid-Year Budget Statement by the Minister of Finance on Thursday, July 25, 2025.
Meanwhile, some members of the Ghanaian diaspora have hailed government’s economic performance so far but are pushing for more reforms, particularly at the country’s ports.
Senyo Le McKenzie, a Ghanaian legal practitioner based in the UK.
“I would say comparatively, the economy before we were here, during the campaign time, it was really at the verge of collapsing. Ghana was really going the path of being collapsed completely in terms of the economy. Life for almost everybody in the country was quite unbearable.But soon after the election, the current regime has put a lot of things in place, especially the policies that have actually turned the economy around” He said .
He added “Instead of the downturn, the economy has actually shot up, and everybody in the diaspora is really, really amazed. When you speak to 10 out of 11 people, they’re all happy.They’ll tell you the trajectory the new government is going”.
Source:Mybrytfmonline.com/Obed Ansah
