BoG Spends $1.4B to Protect Cedi While Health Care Goes 24/7

Ghana’s macroeconomic landscape continues to shift, with the cedi maintaining its strength against the dollar at GH¢10.41, according to the Bank of Ghana's interbank rate on July 14, 2025. While Kivo gari mix has held steady at GH¢5.00 since 2024, the price of Happy Delight Fruit Juice (1L) has surged by over 20 percent, now retailing at GH¢22.00.

This signals persistent inflationary pressure on consumer staples.

Here are the latest market updates and economic developments shaping Ghana’s financial outlook today.

Cedi Board: Summary of Economic and Financial News in Ghana

Ghana Health Service Expands CHPS to 24-Hour Operations

The Ghana Health Service (GHS) is stepping up efforts to support the government’s 24-hour economic agenda by rolling out round-the-clock operations at CHPS compounds and polyclinics across the country. Director-General Dr. Samuel Kaba Akoriyea confirmed the expansion during a press briefing in Accra on July 14, 2025.

This move is designed to improve access to healthcare, particularly in rural communities where services often close at night. Security measures are also being put in place to support the upgraded facilities.

In addition, the government has announced plans to construct 600 new CHPS compounds by the end of 2025. Each district is expected to build at least two, to exceed 2,000 facilities in four years. These actions are set to transform primary health care delivery across the country.

Bank of Ghana Warns Against Rejection of Coins

The Bank of Ghana has cautioned the public against rejecting coins during transactions. According to the BoG, this behavior is illegal and contributes to inflationary pressure when prices are rounded up unnecessarily.

Dominic Owusu, Head of Currency Management at the Bank, emphasized that all Ghanaian coins and banknotes are legal tender and must be accepted in commerce. He made the comments at a currency management workshop hosted by the West African Institute for Financial and Economic Management (WAIFEM) in Accra.

Coins are especially important for ensuring pricing accuracy and reducing currency printing costs, given their durability. The Bank continues to stress the value of even the smallest denominations, including the one, five, and ten pesewa coins.

WAIFEM’s event also addressed broader themes such as the role of artificial intelligence in fraud detection, the impact of digital currencies, and how big data is transforming central banking operations.

Bank of Ghana Sold $1.4 Billion in Forex in Q1 2025

The International Monetary Fund has revealed that the Bank of Ghana sold $1.4 billion in foreign exchange during the first quarter of 2025. This is a major increase compared to the total intervention of $1 billion for all of 2023.

Officials say the increase was necessary due to high dollar obligations in the energy sector, especially for fuel imports and payments to power producers. Monthly demand for dollars in this sector alone can exceed $400 million.

Despite the heavy interventions, Ghana’s foreign reserves remain strong at $10.6 billion, providing 4.7 months of import cover. This has supported the cedi’s rally from GH¢14.70 to GH¢10.37 per dollar this year, making it the best-performing currency globally.

However, the IMF has advised the Bank to reduce its direct involvement in the forex market and adopt a formal internal intervention framework. Without this structure, Ghana risks exposing the currency to sharp volatility in the event of a drop in gold or cocoa prices.

Maintaining discipline and setting clear rules for intervention will be key to protecting Ghana’s hard-won currency gains.

Investor’s Insight: Land Banking Is Quietly Building Wealth

Land banking is quietly becoming one of Ghana’s most attractive long-term investments. With urban sprawl increasing land demand, buying undeveloped plots in growing towns offers strong appreciation potential.

Land requires minimal maintenance and can be sold, leased, or developed for future income. As infrastructure expands and population grows, early investors in peripheral lands stand to benefit from significant capital gains.

Stay tuned to the Cedi Board® for real-time updates on Ghana’s financial pulse. From prices and policy to investment tips that help you make sense of the numbers.