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President John Dramani Mahama has highlighted the symbolic significance of Ghana’s cedi, describing it as more than just a medium of exchange. He emphasized that the cedi embodies Ghana’s independence, national identity, and the country’s ability to manage its own monetary affairs.
Speaking at the Cedi @ 60 Conference in Accra, a gathering of policymakers, economists, and industry leaders reflecting on six decades of the national currency, President Mahama stated, “Not just as a unit of account or a medium of exchange, but as a declaration of independence, our identity, and the capacity of our state.” He pointed out that the cedi has played a crucial role in anchoring monetary policy, shaping expectations among households and businesses, and absorbing domestic, regional, and global shocks over the past 60 years.
The conference comes at a time of rapid transformation in the global financial landscape, marked by the rise of central bank digital currencies (CBDCs), digital payment systems, and the coexistence of cash, electronic payments, and digital assets.
President Mahama acknowledged these emerging trends, noting that they are challenging traditional monetary policy models and assigning new responsibilities to central banks as both regulators and custodians of trust in the financial system.
“The world is witnessing the emergence of a hybrid monetary ecosystem…Trust in institutions has become as crucial as technical capacity,” he added, highlighting the importance of confidence in Ghana’s financial institutions amid evolving payment systems and cyber risks.
Organised under the theme Cedi @ 60: Reflecting on the Past, Shaping the Future, the conference seeks to provide a platform for experts to discuss trends, challenges, and opportunities in Ghana’s monetary system.
Stakeholders will examine strategies to fortify the cedi, ensure exchange rate stability, and adapt to technological and global shifts in finance.
