Compared to this time last year, the Ghana Cedi has appreciated massively.

Ghana’s cedi is turning heads this week, posting a remarkable year-on-year rally against major international currencies. The dollar, euro, and pound all took a hit, shedding over 24% of their value compared to the cedi. But beyond forex trends, the latest updates from agribusiness and government policy suggest bigger shifts in the economic landscape are underway.

Cedi's Big Comeback: A Year of Strength

According to the Bank of Ghana's interbank mid-rate on July 14, 2025:

• USD/GHS dropped from ₵14.72 to ₵10.41, marking a 29.3% appreciation in the cedi

• EUR/GHS declined by 24.2%, now trading at ₵12.17

• GBP/GHS fell by 26.5% to ₵14.06

  
  

This performance signals renewed investor confidence and reflects recent inflows from the IMF as well as tighter fiscal and monetary coordination.

Agribusiness Push: IFC Joins Ghana to Transform Enclave Farming

The Millennium Development Authority (MiDA) is teaming up with the International Finance Corporation (IFC) to drive large-scale commercial farming across 50,000 acres in Kasunya, Oti, and Afram Plains.

MiDA CEO Alexander Kofi-Mensah Mould revealed that critical infrastructure such as irrigation, roads, electricity, and farmer housing is being built to attract anchor tenants and agribusiness developers.

“We need feasibility studies and policy support to lower our import bill and move towards self-sufficiency,” Mould said during a visit from IFC’s Ghana Country Head, Kyle Kelhofer.

The IFC pledged support through feasibility assessments and foreign direct investment mobilisation. This strategic partnership could redefine Ghana’s agro-economy and improve food security over the next decade.

Mid-Year Budget Preview Set for July 24

Finance Minister Dr. Cassiel Ato Forson is expected to present the 2025 Mid-Year Budget Review on Thursday, July 24, 2025. The review will update Parliament on:

• Fiscal performance for the first half of the year

• Debt service outlook and spending trends

• Revenue mobilisation efforts

• Upcoming macroeconomic reforms

In the lead-up, the Bank of Ghana confirmed receipt of US$367 million from the IMF. This marks the 5th disbursement under Ghana’s US$3 billion Extended Credit Facility and raises total receipts from the IMF programme to US$2.3 billion. The fresh inflows boost Ghana’s international reserves and budgetary position.

Palm Oil Crisis: Ghana Faces 50,000 Metric Ton Shortfall

Despite annual palm oil production of 350,000 metric tons, demand has ballooned to 400,000 metric tons, creating a persistent 50,000-ton deficit.

Dr. Isaac Danso of the Oil Palm Research Institute says the shortfall is largely due to poor seed quality and lack of regulation.

“Certified hybrid seedlings are key. Without them, yields will remain low despite best practices,” he told B&FT.

The government is tasking the Tree Crop Development Authority with regulating the sector from seed certification to nursery oversight. With over 1,200 farming technologies developed since 1964, the CSIR is now pushing for collaboration to close this supply gap and reduce import dependence.

Investor’s Insight – Ghana Stock Exchange Movers (July 14, 2025)

The stock market brought in mixed reactions this week with this top 5 movers:

• Top Gainers:

  • TotalEnergies Ghana (+9.92%)

  • RBGH (+9.72%)

  • Access Bank (+9.63%)

  • GOIL (+2.50%)

    
    

• Top Loser:

  • GCB Bank (-4.34%)

    
    

With consumer and energy stocks leading the rally and GOIL making a modest gain, this reflects growing market optimism despite ongoing power supply concerns (#ECG #Dumsor still trending).

Ghana’s economic pulse is showing strong recovery signals from currency gains to investor confidence in agribusiness. But the lingering palm oil deficit and the upcoming mid-year review suggest caution ahead.

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.