Maize and Gari prices surge! But electricals drop as cedi gains.

Ghana’s latest macroeconomic indicators reveal a tale of contrast — while the cedi edges up against the dollar, the cost of key local food commodities has gone up. The May 21, 2025 edition of Cedi Board by Finex Insights takes stock of these shifts and explores the ripple effects on households, investors, and policymakers. Details below:

Summary of Business and Economic News in Ghana May 21 2025

1. Food Prices on the Rise

Maize (Olonka) now sells between ₵28–₵30, marking a 64.7% increase from ₵17.00 in 2023. Gari (Olonka) also climbed by 40%, now ranging between ₵35–₵40. These hikes, though partly seasonal, reflect deeper structural issues — input cost increases, low buffer stock, and logistic constraints.

2. Forex Markets: A Breather for the Cedi The Bank of Ghana’s interbank selling rate stands at ₵12.12/$, reflecting a strengthening cedi in the last few weeks.

Electroland Ghana announced price reductions for electrical appliances, responding to the stronger cedi and falling import costs. Consumers may find relief in non-food discretionary spending.

There is renewed investor confidence from the resumption of drilling by Tullow Ghana at the Jubilee Field.

3. Investor Insight: Sesame Seeds — Ghana’s Untapped Goldmine Despite being a global superfood, Ghana captures less than 1% of the $5.6 billion global sesame seed market, unlike Nigeria which holds 3.6%. With strong demand from countries like the US, Japan, China, and Turkey, Ghana’s agribusiness sector has a compelling growth opportunity.