Cedi among top three best-performing currencies in Africa - Bloomberg report

Ghana’s local currency, the cedi, has been ranked among the three best-performing currencies in Africa, according to a recent report by Bloomberg.

The report indicates that the cedi has appreciated more against the U.S. dollar this year than Zambia’s kwacha, registering a 42.7% gain, compared to the kwacha’s 18.5%.

Although the kwacha had depreciated by 8% in 2022, 30% in 2023, and 8% in 2024, it has rebounded with a 19% appreciation against the dollar in 2025.

“While the trade-weighted dollar has depreciated 8% since Donald Trump became the 47th President in January, the kwacha rally extended across most currencies, including South Africa’s rand, British sterling, and the euro,” Bloomberg stated.

Following years of volatility and depreciation, Ghana's Central Bank attributes the cedi's resurgence to a combination of fiscal tightening, improved gold reserves, and prudent economic policies.

While consumers and import-reliant businesses, especially in the fuel, food, and automobile sectors welcome the appreciation, economists urge cautious optimism.

They called for the need for sustained fiscal discipline and inflation control to minimise future volatility and drive private sector recovery.





SA/MA

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