Deputy Finance Minister Thomas Nyarko Ampem has assured the public that the Ghana cedi will maintain its stability. This statement comes as the local currency trades at GHS 11.80 against the US dollar on the Bank of Ghana’s interbank market, according to the latest published rates. Mr. Ampem described the cedi’s stability as a significant relief for Ghanaian households navigating home financing.
The Deputy Minister’s comments were made during the National Conference on Housing and Finance. He emphasized that a stable cedi directly helps families manage their housing costs without the added burden of fluctuating exchange rates. This is especially important for households whose incomes are earned in cedis, as currency volatility can severely impact their ability to meet financial commitments like mortgage payments or rent.
This assurance from the Ministry of Finance comes at a critical time for Ghana’s economy. The cedi has experienced periods of significant depreciation in recent years, impacting import costs and overall inflation. For instance, the cedi depreciated by 9.5% in the first nine months of 2026, as reported by the Bank of Ghana. Such volatility makes long-term financial planning, particularly for large investments like housing, extremely challenging for ordinary citizens and businesses alike. The government's focus on stability aims to mitigate these past pressures.
Mr. Ampem specifically attributed the cedi's current stability to the leadership of President Mahama and Dr. Cassiel Ato Forson. He stated, “Thankfully, under the competent leadership of His Excellency President Mahama and Dr. Cassiel Ato Forson, the cedi has been stable and it will continue to be stable. That is a big relief.” He further stressed that families should not need to predict exchange rates to secure their homes, highlighting the importance of a predictable economic environment.
Beyond currency stability, the Deputy Finance Minister indicated that the government will implement additional measures to reduce the cost and risks associated with housing delivery. He acknowledged that access to finance alone cannot solve Ghana’s housing affordability crisis. Instead, he stressed the need for clear land ownership, realistic construction costs, reliable demand, and workable infrastructure plans. These foundational elements are crucial for a thriving housing sector.
Mr. Ampem also identified predictable local approval processes and serviced land as vital conditions for attracting investment into the housing sector. These factors create an enabling environment for developers and investors, encouraging more housing projects. Without these conditions, the cost of housing remains high, and the supply struggles to meet demand, exacerbating the affordability challenge for many Ghanaians. The government's holistic approach aims to address these systemic issues.
The continued stability of the cedi, if sustained, will likely bolster consumer confidence and potentially attract more foreign direct investment into key sectors. Businesses relying on imports or exports will benefit from reduced exchange rate risks, allowing for more predictable operational costs and pricing strategies. This stability is also crucial for the Bank of Ghana's monetary policy objectives, helping to manage inflation expectations. Investors and international partners will closely monitor the cedi's performance as a key indicator of Ghana's economic health and stability in the coming months.