Bank of Ghana Governor Dr. Johnson Asiama has identified three persistent threats to Ghana’s economic stability despite the cedi’s 42% appreciation this year.
Speaking at a financial forum, Asiama warned that commodity volatility, dollarization, and policy trade-offs could undermine recent gains without coordinated action.
The governor noted Ghana’s heavy reliance on gold, cocoa, and oil exports leaves it vulnerable to global price swings, while seasonal import surges strain foreign reserves. He particularly condemned businesses pricing services in dollars despite legal tender laws, citing real estate and education sectors as key offenders.
Simultaneously, the government advanced major reforms:
-
Scrapping political appointees’ fuel allowances amid opposition claims of “populist gimmickry”
-
Abolishing teacher licensure exams by August 30
-
Signing international partnerships for new universities in Jasikan and Kintampo
-
Mandating mining equipment registration to combat illegal operations
Education Minister Haruna Iddrisu confirmed memoranda with Egyptian and Moroccan firms for the university projects, targeting regional skills gaps. The Births and Deaths Registry also resumed operations after resolving a two-month security paper shortage that halted certificate issuance nationwide.
Ghana National Chamber of Commerce President Stephan Miezah emphasized that successful implementation of Mahama’s flagship 24-hour economy policy requires “non-negotiable” utility reliability and agricultural modernization. These developments unfold against ongoing opposition scrutiny of fiscal reforms under the National Democratic Congress administration.
