President John Dramani Mahama stated that the recent appreciation of the Ghanaian cedi has begun to influence pricing practices in key sectors, including the automobile market.

Speaking at the Cedi@60 International Conference in Accra, President Mahama said that some car dealers are now quoting vehicle prices in cedis rather than in U.S. dollars—a shift he described as a positive signal of growing confidence in the local currency.

He noted that this trend, though still emerging, reflects the impact of measures aimed at strengthening the cedi and reducing the economy’s dependence on foreign currency.

The conference, organised as part of the 60th-anniversary celebrations of the cedi, brought together policymakers, economists, and financial-sector leaders to examine the state of Ghana’s currency and propose strategies for future stability.

Meanwhile, Mahama emphasized that sustainable appreciation would require continued investment in production, export competitiveness, and discipline in fiscal management.

However, President Mahama also underscored that while the cedi’s recent performance is encouraging, long-term stability will depend on consistent policy implementation and confidence from both citizens and businesses.

Sompaonline.com/Derrick Djan