Drivers saying “no” to GPRTU fare cuts while the Cedi’s flexing hard.

Introduction

In a week that continues to stir the pot of Ghana’s economic landscape, the Cedi Board from Finex Skills Hub provides an insightful snapshot into the nation’s financial pulse—tracking the Ghanaian Cedi’s performance, news-worthy developments, and stock exchange winners and losers.

Summary of Economic and Financial News in Ghana

1. Forex Watch: Cedi Flexes Its Muscles

The Ghanaian Cedi has appreciated strongly against major foreign currencies:

• USD: ₵10.95 (down ~21% from ₵13.92)

• EUR: ₵12.41 (down ~18% from ₵15.08)

• GBP: ₵14.78 (down ~17% from ₵17.71)

This rally is attributed to stronger export revenues from gold and cocoa, increased investor confidence, and tighter central bank policies. While critics question the sustainability of this run, the figures offer some optimism.

2. In the News: From Banks to Buses

• E-Levy Fallout: The reintroduction of bank transfer fees post-E-Levy repeal has sparked debate, prompting a probe by the Bank of Ghana.

• Transport Sector Resistance: In the Ashanti Region, drivers are defying the GPRTU’s directive to reduce fares, citing rising fuel and maintenance costs.

• Forex Usage at Ports: The Institute of Freight Forwarders recommends port charges be pegged in Cedis rather than dollars to reflect local realities and promote fairness.

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3. Ghana Stock Exchange – Gainers & Losers (May 26, 2025)Top 3 Gainers:

• SIC: +9.09%

• EGL: +5.56%

• BOPP: +4.20%

Top 2 Losers:

• MTNGH: -9.60%

• CAL Bank: -6.25%

The market movement reflects continued volatility and investor sentiment amidst economic shifts and fiscal policy updates.

4. Trending Topic: #GPRTU and Transport Fare Battles

The GPRTU’s fare directive has emerged as a flashpoint for public discussion. While the Cedi appreciates, operational costs—largely influenced by fuel prices and imported spare parts—remain a burden for commercial drivers. The disconnect between macroeconomic performance and microeconomic realities is evident.

Conclusion

The latest Cedi Board highlights the paradoxes of Ghana’s economy: a strong currency amidst high domestic costs, resilient stock performers in a volatile market, and friction between policy direction and public sentiment. It’s a reminder that while the numbers matter, the narratives behind them matter more.