Ghana’s Cedi Strengthens as FDA Halts Tasty Tom Production and DStv Faces Licence Suspension

bernard boateng
Aug 4
3 min read

Forex Snapshot (August 4, 2025)

Ghana’s cedi has recorded impressive year-on-year gains against major foreign currencies:

USD/GHS – ₵10.51 (Down by ~29.84% from ₵14.98 a year ago)
EUR/GHS – ₵12.12 (Down by ~25.78% from ₵16.33 a year ago)
GBP/GHS – ₵13.91 (Down by ~27.36% from ₵19.15 a year ago)

The local currency’s strength reflects improving macroeconomic stability, rising investor confidence, and tighter monetary policies.

FDA Orders Immediate Suspension of Tasty Tom Enriched Tomato Mix Production

The Food and Drugs Authority (FDA) has suspended Nutrifoods Ghana Limited’s production of Tasty Tom Enriched Tomato Mix, citing serious health and safety violations.

Following numerous consumer complaints, FDA’s inspection revealed poor equipment maintenance and lapses in safety monitoring. The authority has mandated a full product recall for all canned products, including specific 380g and 1.05kg pouch batches.

Production will remain suspended until Nutrifoods addresses all operational lapses to FDA’s satisfaction. The regulatory body emphasized its commitment to public health, stating that monitoring efforts will intensify until full compliance is achieved.

DStv Faces Licence Suspension Over Pricing Standoff

Ghana’s Minister for Communication, Samuel Nartey George, has issued a stern ultimatum to DStv, threatening to suspend the broadcaster’s licence by August 7, 2025, if subscription prices are not reduced.

According to the Minister, DStv’s justification citing cedi depreciation over the past eight years is inadequate, especially given the recent strengthening of the currency.

“My fidelity lies with the Ghanaian people. They have been cheated for years, and it is time we put an end to that,” Mr. George asserted at the Government Accountability Series. He has directed the National Communications Authority (NCA) to initiate suspension procedures if DStv fails to comply.

This standoff has become a trending topic nationwide, as consumers rally behind calls for fairer pricing.

U.S. Imposes 15% Tariff on Ghanaian Exports in Trade Policy Shake-up

In a move that could disrupt Ghana-U.S. trade relations, President Donald J. Trump has signed an executive order imposing a 15% ad valorem tariff on Ghanaian exports to the United States, effective August 7, 2025.

The tariff forms part of broader U.S. efforts to rectify trade imbalances and protect domestic industries. Ghana now joins a list of countries deemed to be undermining U.S. trade interests.

Sectors expected to be hardest hit include agriculture, textiles, and processed foods.

While Ghana’s Trade Ministry and Export Promotion Authority are yet to officially respond, trade experts caution that the tariff could remain in place until new bilateral negotiations are held.

Investor Insights: RBGH, CLYD Lead Market Gains as IIL Tops the Losers

Ghana’s equity market witnessed notable movements:

RBGH (+12.90%) – Strong quarterly earnings and strategic partnerships fueled investor optimism.
CLYD (+11.11%) – Gains attributed to an anticipated merger announcement.
MTNGH (+9.23%) – MTN’s robust subscriber growth continues to drive stock performance.
FML (+3.53%) – Modest gains amidst sector stability.
IIL (-20.00%) – Shares plummeted following disappointing earnings and operational challenges.

Investors are increasingly focusing on telecom and FMCG stocks, given the cedi’s stability and anticipated policy reforms.

Ghana’s economic landscape is currently shaped by significant regulatory interventions, strengthening currency fundamentals, and evolving trade dynamics. With the FDA cracking down on food safety lapses, the government confronting foreign service providers over pricing disparities, and the U.S. tightening trade policies, businesses must brace for a new era of accountability and competitiveness.

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.