President John Dramani Mahama has reaffirmed the government’s commitment to safeguarding the independence of the Bank of Ghana, describing it as fundamental to sound economic management.
Speaking at the Cedi@60 Anniversary Conference on Tuesday, November 18, he said “a core principle of effective economic management is an independent, credible, and professionally insulated central bank. The Government of Ghana is firmly committed to safeguarding the independence of the Bank of Ghana.”
The President argued that a strong and autonomous central bank is essential for anchoring inflation expectations, maintaining exchange-rate stability, strengthening investor confidence, and ensuring long-term policy credibility.
“This is an economic necessity,” he stressed, adding that protecting the Bank’s independence is critical to Ghana’s long-term growth and stability.
President Mahama also used the platform to call for intensified nationwide public education on the proper use of the cedi, saying that a modern currency system depends not only on strong institutions but also on an informed and responsible population.
He identified three key areas where public understanding must be improved: promoting the use of the cedi for domestic transactions, ensuring proper handling of currency notes, and strengthening financial literacy.
He said wider use of the cedi helps stabilise the economy by reducing exposure to exchange-rate risks, while improper handling of notes increases printing costs and shortens their lifespan.
“We must promote responsible use of the cedi,” he emphasised. He added that improved financial literacy would help citizens guard against fraud and hold institutions accountable, thereby strengthening trust in the monetary system.
Also speaking at the conference, the Governor of the Bank of Ghana, Dr Johnson Asiama, called for a forward-looking approach to deepening public trust in the national currency as the country navigates rapid changes in the global financial environment.
Dr Asiama said it was important to consider how young Ghanaians who are growing up in a fast-changing digital world will relate to the cedi in the years ahead.
“Young Ghanaians are growing up in a world where value is moved instantly, where digital interaction is second nature, and where expectations of transparency and accountability continue to rise,” he said.
He noted that the trust future generations place in the cedi will depend on the credibility of the institutions that manage it.
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