The Ghana cedi, which turns 60 this year, represents far more than a medium of exchange according to Clare Lombardelli, Deputy Governor for Monetary Policy at the Bank of England. Speaking at the Pan-African Central Bank Governors’ Conference in Accra on November 10, 2025, she described the milestone as a powerful symbol of sovereignty, resilience, and economic aspiration.
Lombardelli highlighted Ghana’s 60-year journey with its national currency, describing it as a symbol of economic sovereignty and resilience. She noted that the cedi’s six-decade journey reflects the enduring spirit of Ghanaians and the pivotal role central banks play in shaping economic destiny. The currency, which pays trotro fares and drives daily commerce, has survived economic storms that could have overwhelmed lesser economies.
The inaugural conference brought together governors and deputy governors from more than 20 African central banks to discuss leadership, governance and collaboration in monetary policy. The event was co-hosted by the Bank of Ghana (BoG), Bank of England (BoE) and Foreign, Commonwealth and Development Office (FCDO).
Since independence, the cedi has weathered numerous economic upheavals. From inflation spikes in the 1980s to currency redenominations and the complex balancing act between stability and growth, Ghana’s currency has demonstrated remarkable endurance. Lombardelli recognised the cedi’s journey as testament to the Ghanaian people’s enduring spirit and the pivotal role central banks play in economic stewardship.
She applauded the Bank of Ghana for managing the cedi throughout its history and encouraged attendees to join her in congratulating the central bank and the people of Ghana on reaching this milestone. The Deputy Governor used the occasion to reflect on the Bank of Ghana’s role as guardian of national stability and symbol of institutional endurance.
Lombardelli emphasised that central banks are not just regulators of money supply but architects of trust, responsible for anchoring confidence in the economy. The journey of the cedi underscores how central banks help shape nations’ economic destiny, she maintained. At a time when inflation, exchange rate pressures, and global shocks test monetary systems, she encouraged African central banks to continue strengthening their independence, accountability, and credibility.
She stressed the importance of effective communication with parliaments, the press, and the public. Beyond policy and exchange rates, Lombardelli emphasised that the cedi is a symbol of national pride. Sixty years of a national currency means six decades of a people believing in their ability to define value for themselves, she observed.
She noted that the cedi’s story mirrors Ghana’s resilience, seen daily in how ordinary citizens adapt, innovate, and rebuild through every economic challenge. The celebration of Cedi@60 marks six decades since the introduction of Ghana’s national currency, a symbol of sovereignty, resilience, and economic aspiration, she observed.
Lombardelli also called for strengthened gender equality in central bank leadership, citing Afua Kyei, Chief Financial Officer at the Bank of England, who was recently recognised as the most influential Black person in the UK on the 2026 Powerlist. She indicated that Afua Kyei’s achievement is not just a personal victory, but a reflection of Ghana’s global influence and its growing footprint in international finance.
Afua Kyei was named the UK’s most influential Black person by the Powerlist 2026 on October 24, 2025. The annual list recognising the most powerful people of African, African Caribbean, and African American heritage celebrates its 20th anniversary this year. Kyei is one of the UK’s most senior finance leaders, serving as Chief Financial Officer and Executive Director at the Bank of England, leading financial governance of the £1 trillion balance sheet, funding reforms, and Payments critical national infrastructure upgrades while championing diversity and climate disclosure.
Kyei was born in London to Ghanaian parents and earned her bachelor’s and master’s degrees in chemistry from Somerville College, Oxford. She trained as a chartered accountant at Ernst & Young in London and served as Chief Financial Officer Mortgages at Barclays Bank between 2012 and 2019 before joining the Bank of England.
Afua Kyei said the honour was incredibly humbling, stating that the award is not about personal achievement but about representation, visibility, and possibility. She emphasised that when young people see themselves reflected in spaces where they may not have imagined belonging, it changes what they believe is achievable.
Bank of Ghana Governor Dr. Johnson Asiama also spoke at the conference, drawing attention to Ghana’s recent recovery. Inflation has dropped from a peak of 54.1 percent at the end of 2022 to 8 percent for October 2025, while international reserves have risen to over 11 billion US dollars. The cedi has appreciated by more than 34 percent against the US dollar since the beginning of the year, reflecting what he described as discipline, transparency and credibility that underpin effective central banking.
The conference arose from the long-standing Bank of Ghana and Bank of England Technical Cooperation Programme, supported by the UK Foreign, Commonwealth and Development Office. Since its inception in 2018, this partnership has covered macroeconomic modelling, financial stability frameworks, climate risk supervision, and institutional communication strategies. The programme has also run several regional workshops on macroprudential supervision topics, bringing benefits to around 20 other African central banks.
British High Commissioner to Ghana Dr Christian Rogg praised the collaboration between the two central banks, noting that it reflects a shift in the UK’s engagement with Africa from aid-driven support to partnerships based on shared expertise and institutional strengthening. The collaboration has evolved through some of the most turbulent economic years and stands as a model for regional cooperation, he said.
The Bank of Ghana launched the Cedi@60 initiative in late October 2025, a year-long national engagement commemorating six decades of the national currency. The programme seeks to reconnect citizens with the historical, economic, and cultural significance of the currency while fostering public education and dialogue on monetary sovereignty. Activities include monetary exhibitions tracing evolution from pounds to pesewas and coins to QR codes, public lectures and school talks, diaspora engagements focusing on remittances and international trust, and legacy publications and educational projects.
Source: newsghana.com.gh
