Executive Secretary of the Importers and Exporters Association of Ghana, Samson Asaki Awingobit, has hailed the recent stability of the Ghanaian cedi, saying it is easing pricing uncertainties and driving down the cost of goods in local markets.
Speaking on The Big Issue on Channel One TV on Saturday, May 17, 2025, Awingobit explained that the currency’s current performance is significantly changing how traders operate—especially in key commercial hubs like Abossey Okai and Okaishie.
“Gone are the days, or few weeks or few months ago, or a year ago, if one gets to shop at Abossey Okai, or at Okaishie, you will want to call Alhaji to find out how much is the rate today before you can price your goods. Because at the end of the day, if you sell two unit, three unit items, you will go and buy the dollar and put down. You will not wait for the dollar to start going up against the Cedi,” he said.
With the dollar now available at commercial banks and the exchange rate moving from GH¢14 to about GH¢12.30, he said the frantic search for black-market forex is gradually fading.
“If I were pricing my goods at GH¢20 or at GH¢15 because dollar was GH¢14 and now dollar has come to GH¢12.3… nobody will go to Alhaji to look for forex to be able to do his transaction. It is a good thing, and it will reflect in the prices of goods and services,” he added.
He revealed that some prices are already falling, citing a personal example to underscore the impact: “Just two, three days ago, my wife told me that the Frytol that they used to buy at GH¢1,200 or GH¢1,300 or so, it has come to GH¢600 or GH¢700. That is drastic drop of goods in the market.”
Awingobit’s comments add to growing calls for the government to consolidate gains made in currency stability and ensure that its positive impact is felt across households and businesses.
