Cedi @ 60, NDPC’s First Report in 30 Years, and MTN’s Blockchain War on MoMo Fraud: Ghana's Economic Pulse

Today’s Cedi Board shows the dollar at ₵10.81, reflecting minor short-term volatility even as the currency has shown strength over the past year. But the real stories are bigger: the Bank of Ghana is marking the Cedi's 60th anniversary, the NDPC has released its first progress report in three decades, and MTN is deploying blockchain to fight MoMo fraud. Let's break down what these key developments mean for Ghana's economic landscape.

Market Movers: The Cedi and Your Subscriptions

The Cedi sits at ₵10.81 to the dollar today (Oct 28), a slight strengthening from yesterday's ₵10.85. While we see this minor daily bouncing, the bigger picture over the last year has been one of appreciation.

This exchange rate directly impacts your digital life. A US-dollar-based Netflix plan now converts to ₵32.46/month. In comparison, the Africa-focused Showmax offers its cheapest plan at just ₵27/month. Showmax's local edge is clear: it bundles local content, live Premier League football (on mobile), and allows payment via MoMo, making it a highly competitive, data-friendly choice. Netflix, while often pricier, offers a massive global library and 4K quality on its top plans.

Major Headlines: Policy, Accountability, and Security

• Cedi at 60: The Bank of Ghana is celebrating 60 years of the Cedi. This signifies a moment to reflect on our economic sovereignty since replacing the Ghanaian pound in 1965. Keep an eye on the year-long events, especially the planned relaunch of a gold coin to promote financial inclusion.

  
  

• NDPC's Landmark Report: The National Development Planning Commission (NDPC) has published an annual progress report. The NDPC chair noted this is the "first time in 30 years" a report has been made so accessible to citizens. While technical reports existed for internal use before, this signals a new era of public accountability. The report shows signs of economic stabilization (better tax collection, lower inflation) but also flags serious issues: high debt, project cost overruns totaling GH₵ 70.3 billion, and 13 government agencies failing to even submit their data.

  
  

• MTN's Blockchain Fight: In response to over 15,000 fraud cases in 2024, MTN is deploying blockchain technology to secure Mobile Money. In simple terms, this creates a super-secure and traceable record for transactions. It’s designed to make fraud much harder, verify user identities better, and, most importantly, rebuild public trust in our vital digital payment system.

Investor's Insight: Digitizing the Informal Sector

Today's investment insight focuses on what is arguably the largest untapped digital market in Ghana: the informal artisan economy. This sector, which employs an estimated 80% of the workforce (plumbers, electricians, tailors, mechanics, etc.), currently operates almost entirely offline, creating massive inefficiencies that a digital platform can solve.

The current system for finding skilled labor is built on high-friction, low-trust word-of-mouth.

:Finding a reliable artisan is a gamble. You must rely on a friend's recommendation with no guarantee of quality, no price transparency, and no accountability if the job is done poorly.

Even a highly skilled artisan is invisible to most potential customers. Their job pipeline is unpredictable, limited to their immediate neighborhood and personal network.

The opportunity is to build a mobile app that connects verified artisans to customers. This platform would offer customers a vetted directory with public reviews and secure payments via Mobile Money (MoMo). For artisans, it provides a digital profile to build a reputation and a steady pipeline of new jobs.

This model is viable now due to two key factors: high smartphone penetration and the universal adoption of MoMo, which provides the secure financial rails for a trust-based system.

Investors see returns by taking a commission on each job.

Trending Now: #NSMQ2025

Finally, you’re seeing #NSMQ2025 everywhere because it’s the final, high-stakes day of the One-Eighth Stage. The National Science and Maths Quiz is a cultural event full of school pride, intense rivalries, and massive social media buzz. Yesterday's shocking, last-minute elimination of favorites Wesley Girls' High School has only fueled the frenzy for today's matches.

For your daily insight into Ghana's economic pulse, stay connected to our blog.