GNCCI Urges Government to Stabilise Exchange Rate to Safeguard Growth
The Ghana National Chamber of Commerce and Industry (GNCCI) has urged government to intensify measures aimed at stabilising the cedi against the US dollar to protect livelihoods, enhance investor confidence, and sustain economic growth.
Addressing participants at the Czech–Ghana Business Cooperation Seminar in Accra on September 2, 2025, the National Treasurer of GNCCI, Michael Kabutey Caesar, emphasised that exchange rate stability remains pivotal for business expansion and revenue mobilisation.
“The President once indicated that the target was to peg the exchange rate between GHC10 and GHC12 to the dollar. I would be concerned if it escalates beyond that. I want to believe the government is monitoring the situation and will act to prevent a return to the high levels we experienced in the past,” he stated.
Mr Caesar underscored the need for a balanced framework that ensures a win-win outcome for importers, exporters, and government tax mobilisation.
“There should be a win-win situation for importers, exporters, and government taxation. At the moment, the government is not generating much tax revenue from the ports, but striking a balance is necessary, and I am confident steps are being taken in that direction,” he added.
The Chamber’s call comes amid renewed volatility on the foreign exchange market, where businesses continue to grapple with rising operational costs due to currency depreciation. Analysts warn that unchecked depreciation could erode recent gains in inflation management and weaken the country’s growth prospects.
