GAB CEO Urges Ghanaians to Support Efforts in Safeguarding Cedi Stability
Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah, has urged Ghanaians to demonstrate greater commitment to protecting the value of the Cedi by transacting and saving more in the local currency.
Speaking on Joy FM’s Super Morning Show ahead of the official launch of the Cedi@60 commemoration in Accra on Tuesday, Mr Awuah stated that while commercial banks continue to work closely with the Bank of Ghana (BoG) and the Ministry of Finance to maintain currency stability, citizens also have a critical role to play.
“As a community of banks, we are very much with the Central Bank and the country in celebrating this milestone,” he said. “It’s in the interest of all of us as users to respect the currency, to value the currency, and to transact in the currency.”
According to him, the goal is not simply to focus on whether the Cedi appreciates or depreciates, but to ensure it remains stable within manageable limits — a condition necessary for building economic confidence.
He further recalled periods of improved market conditions when the gap between interbank and parallel market exchange rates narrowed considerably, stressing that such gains must be preserved through disciplined policy actions and responsible public behaviour.
Mr Awuah’s comments come as Ghana commemorates 60 years since the introduction of the national currency in 1965.
The celebration, themed “60 Years of the Cedi: A Symbol of Sovereignty, Stability, and Economic Resilience,” underscores the Central Bank’s ongoing efforts to sustain monetary and financial stability amid persistent global and domestic economic pressures.
Mr Awuah reaffirmed the commitment of commercial banks to continue collaborating with regulators to strengthen the Cedi and support overall economic growth.
