Ghana’s Economy Cools as Inflation Drops, T-Bills Slide, and Media Freedoms Clash

asanteyawobed
Jun 13
3 min read

T-bill rates drop sharply, inflation slows, and the cedi holds firm — while political decisions, labour strikes, and a major bank dividend round off a week of mixed signals in Ghana’s economy.

T-Bill Falls to 14.79%

Ghana's 91-day Treasury bill rate has dropped to 14.79%, down significantly from 25.04% a year ago, a 30.15% decline. This points to reduced government borrowing costs, and a possible reflection of improving investor confidence or declining inflation expectations.

Inflation Rate at 18.4%

Annual inflation has eased to 18.4%, marking a 19.30% year-on-year decrease from 22.8% in June 2024. While prices remain high, the downtrend signals moderating cost pressures, which may offer some relief to consumers and monetary policymakers.

Cedi Holds at GH₵10.26/USD

The cedi remains steady at GH₵10.26 to the dollar according to Bank of Ghana’s interbank rate, suggesting a period of relative currency stability after months of volatility.

President Mahama Orders Restoration of 64 Radio Stations

President John Mahama has ordered the National Communications Authority (NCA) to reinstate 64 radio stations suspended for regulatory breaches.This directive came just hours after the NCA enforced closures due to violations of broadcasting laws, including expired authorisations and failure to pay provisional fees.

In a statement, Mahama emphasized the importance of media freedom in democratic societies and cautioned against enforcement actions that could stifle expression.

He instructed the Minister for Communications to set a reasonable timeframe for affected stations ,including Happy FM, Asaase Radio, and Wontumi FM , to regularize their licenses.

This move aims to balance regulatory compliance with Ghana's constitutional guarantees on free speech.

GRNMA Strike Outcome Pending Council Decision

The ongoing strike by the Ghana Registered Nurses and Midwives Association (GRNMA) could end soon, pending an internal council meeting.The strike, which is over delayed postings, unpaid allowances, and demands for a 13th-month salary has severely disrupted healthcare services across the country.

Following a productive closed-door meeting with Parliament’s Health Committee, GRNMA leadership will consult its National Council to determine the way forward.

Parliament’s Health Chair, Dr. Mark Kurt Nawaane, confirmed that both parties showed willingness to resolve the dispute.

Ecobank Approves GH₵0.34 Dividend After Strong 2024 Performance

Ecobank Ghana PLC has announced a GH₵0.34 per share dividend for shareholders, capping a stellar financial year.The bank posted GH₵5.4 billion in revenue and GH₵2.4 billion in profit before tax , a massive 139.3% YoY increase.

Chairman Samuel Ashitey Adjei credited this to strong risk management and cost-efficiency strategies.

With assets up 36.7% to GH₵46.0 billion and a capital adequacy ratio of 17.03%, the bank appears well-positioned for 2025.

Notably, Ecobank is upgrading its tech infrastructure, including AI-powered digital platforms and new ATMs with user-friendly features.

Investor's Insight Why Mutual Funds Could Work for You

Mutual funds allow small investors to access diversified portfolios managed by professionals. With 12% returns, an investment of GH₵1,000 could yield GH₵120 annually not including dividends.

Ghana’s improving macro environment and steady currency outlook make this a low-barrier entry for retail investors seeking long-term growth.

Today's Cedi board shows early signs of macroeconomic healing, underscored by falling inflation and stable exchange rates.

However, labour unrest, media tensions, and uncertainty in regulatory enforcement highlight the need for policy consistency. Meanwhile, the private sector, as seen in Ecobank’s performance continues to provide optimism for growth and investment.

Stay with Finex Insights for daily updates, analysis, and investor education tailored to Ghana’s evolving economic climate.