The Bank of Ghana launched a yearlong celebration Tuesday marking six decades of the national currency, with officials describing the cedi as a symbol of economic resilience that has weathered severe challenges to emerge as one of Africa's strongest performers.
The 'Cedi@60' initiative, themed '60 Years of the Cedi: A Symbol of Sovereignty, Stability and Economic Resilience', kicked off at the Accra International Conference Centre with President John Dramani Mahama attending as special guest of honour. The programme will include exhibitions, school engagements, public lectures and community forums across Ghana throughout 2025.
Governor Dr. Johnson Pandit Asiama told the audience that the milestone isn't just about looking backward, it's also a reflection on Ghana's economic journey and the path toward lasting stability. He noted that the cedi represents far more than paper and metal, calling it a trusted store of value and a daily emblem of collective confidence in the nation's economic future.
The central bank governor traced the currency's evolution from replacing the Ghanaian Pound in 1965 through redenominations in 1967 and 2007, describing each phase as reflecting Ghana's continuous effort to modernise its financial system while preserving monetary sovereignty. These transformations, he said, tell a story of resilience and adaptation to shifting global conditions.
Dr. Asiama acknowledged the currency's turbulent history, particularly the severe depreciation in 2022 when the cedi lost more than half its value while inflation peaked at 54 percent. Household budgets came under intense strain as prices surged and purchasing power collapsed. But that dark period, he insisted, wasn't the end of Ghana's economic story.
The turnaround has been dramatic. Inflation dropped to 9.4 percent as of September 2025, while the cedi appreciated by 37 percent this year, earning recognition from the World Bank as the best performing currency in sub Saharan Africa. Ghana's international reserves now exceed 12 billion US dollars, providing a crucial buffer against external shocks.
The governor credited disciplined fiscal management and tight monetary policy for the recovery, though he cautioned against becoming complacent. "We're not yet where we want to be, but we're no longer where we were," he said, describing the celebration as both a reminder of progress and a challenge to protect recent gains.
Vice President Prof. Naana Jane Opoku Agyemang delivered a keynote address highlighting the cedi's transformation from the world's worst performing currency in 2022 to its current status as a regional leader. She called the turnaround evidence of policy credibility and national resilience, noting that inflation dropped sharply while reserves climbed above 12 billion dollars.
However, the Vice President stressed that confidence in the cedi won't sustain itself without continued sound decisions and transparent governance. She urged her own government to lead by example, saying there should be no more reckless borrowing or deficits that burden future generations. Every loan must be tied to returns, and every cedi spent must deliver value, she told the gathering.
Prof. Opoku Agyemang addressed one of Ghana's persistent economic challenges, the widespread practice of pricing goods and services in US dollars despite the cedi's legal tender status. She said too many transactions continue in foreign currency, undermining confidence in the national currency. People who earn in cedis should be able to transact in cedis, she emphasised, calling on financial institutions and the private sector to promote local currency use.
The Vice President also highlighted the importance of protecting the central bank's independence, describing it as essential for maintaining credibility in Ghana's financial system. She commended recent measures that helped reduce inflation and restore investor confidence, but stressed that monetary policy must work hand in hand with fiscal discipline.
On digital innovation, Prof. Opoku Agyemang praised the eCedi, Ghana's central bank digital currency pilot, as a step toward more efficient and transparent payment systems. She noted that as finance becomes increasingly digital, Ghana must ensure inclusion so that everyone from urban entrepreneurs to rural traders benefits from modern financial infrastructure.
The year ahead will feature a Cedi Van Regional Roadshow bringing exhibitions and educational programmes to communities nationwide. Public education campaigns will focus on clean note handling, currency security features, and the history of Ghana's currencies since independence. The central bank will also host a currency conference bringing together stakeholders from central banks worldwide, academia, and the private sector.
Youth competitions in music, art, essays, and quizzes aim to raise awareness among students and inspire the next generation to appreciate the currency's role in national development. The Bank of Ghana views these activities as strategic opportunities to reflect on six decades of monetary sovereignty while strengthening policy literacy across different segments of society.
The cedi's 60 year journey mirrors Ghana's broader economic history, marked by periods of both struggle and achievement. From the structural adjustment programmes of the 1980s through various inflationary cycles to recent challenges, the currency has served as both a monetary instrument and a symbol of national identity.
Dr. Asiama emphasised that a currency's strength ultimately rests not on the material it's printed on, but on the trust of the people who use it. The Cedi@60 celebration seeks to reinforce that trust by educating Ghanaians about their monetary heritage while looking forward to the currency's future role in a rapidly evolving financial landscape.
The national launch marks the beginning of sustained engagement with citizens across all regions. Officials say the celebration will blend history, education and technology to deepen public understanding of how monetary policy affects daily life, from business planning and investment decisions to household budgets and school fees.
As Ghana commemorates this milestone, the message from both the central bank and government leaders is clear: protecting the cedi's newfound stability requires continued discipline, transparency, and collective effort from policymakers, institutions, and ordinary citizens alike. The currency that symbolised economic independence in 1965 now carries the weight of expectations for sustained prosperity in the decades ahead.