Ghana Cedi Holds Firm, Kumasi Airport City Takes Off, and Investors Eye T-Bill Fatigue
- asanteyawobed
- Jun 23
- 2 min read
The Ghanaian financial landscape continues to deliver pivotal developments. Today's Cedi Board® shines a spotlight on a sharply strengthening cedi, major infrastructure gains, persistent concerns in the bond market, and market activity on the Ghana Stock Exchange.
Cedi Records Major Gains Against Key Currencies
The cedi has staged a powerful comeback over the past year, appreciating significantly across all major trading currencies:
USD/GHS: GH₵10.31 (↓ 28.65% from GH₵14.45 a year ago)
EUR/GHS: GH₵11.89 (↓ 23.09% from GH₵15.46)
GBP/GHS: GH₵13.88 (↓ 24.03% from GH₵18.27)
This sharp rise signals improved forex inflows, better macroeconomic management, and tight monetary policy execution by the Bank of Ghana (BoG). Exporters and importers alike are expected to benefit from the exchange rate stability, though remittance earners may feel a pinch.
Kumasi Airport City Breaks Ground
A new era begins in the Ashanti Region as the much-anticipated Kumasi Airport City project kicks off. Designed as a mixed-use urban complex, the development will feature:
Luxury apartments
A 5-star hotel
Modern shopping malls
Office spaces and recreational facilities
Spanning 50 acres, this infrastructure milestone aims to transform Kumasi into a regional aviation and business hub, attracting domestic and foreign real estate investors and boosting job creation.
T-Bills Fail to Attract Investors for Fourth Week
For the fourth consecutive week, the Government of Ghana failed to meet its T-bill auction target.
Despite recent rate cuts, investor appetite has shifted away from treasury bills toward Bank of Ghana bills and other structured financial products with better returns or liquidity.
This trend raises questions about investor confidence in short-term government securities and could trigger a review of debt issuance strategies.
AWA Launches Accra–Ouagadougou Route
Africa World Airlines (AWA) has officially inaugurated a direct flight service between Accra and Ouagadougou, Burkina Faso’s capital. This move:
Expands intra-Africa travel
Supports regional trade under AfCFTA
Offers more convenience to travelers and cargo operators alike
As Ghana grows its aviation footprint, expect further economic integration and opportunities within the ECOWAS sub-region.
Investor’s Insight: Ghana Stock Exchange Movers
The Ghana Stock Exchange (GSE) posted a mix of gains and losses on June 23, 2025. Here's a look at the Top Gainers and Losers:
Gainers:
SIC: +7.69%
GCB Bank: +4.83%
ACCESS Bank: +3.66%
Losers:
GLD ETF: -7.61%
CAL Bank: -1.82%
These shifts reflect investor sentiments, sector-specific expectations, and currency dynamics influencing equity positions.
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.
Comments