Strong Q1 Growth, Soaring Stocks, and Shifting Consumer Prices.
- bernard boateng
- Jun 12
- 2 min read
As Ghana crosses into the mid-year mark, the country presents a mixed but hopeful economic picture. From strong GDP performance and stock market gains to stubborn consumer price inflation and resurging health risks, here’s what you need to know from the June 2025 edition of Cedi Board®, powered by Finex Insights.
📈 Economic Momentum: Ghana’s GDP Grows 5.3% in Q1 2025
Ghana’s economy expanded by 5.3% in the first quarter of 2025 outpacing the same period in 2024. According to the Ghana Statistical Service, growth was driven primarily by the agriculture and services sectors:
Agriculture grew by 6.6%, supported by a significant 16.4% rise in fishing.
Services expanded by 5.9%, led by standout performance in:
Information & Communication: +13.1%
Finance & Insurance: +9.3%
Transport & Storage: +8.6%
Industry posted more modest growth of 3.4%, dragged down by a sharp 22.1% contraction in oil and gas.
🔍 Why It Matters
These numbers reflect increasing diversification in Ghana’s growth base, with less reliance on extractive industries and more momentum from digital services, agriculture, and finance.
🛒 Consumer Price Trends: Inflation Hits Essentials
Gino Rice (5kg)
Now priced at ₵170, up from ₵165 in August 2024, a 3.03% increase.
Pepsodent Toothpaste (175g)
Jumps to ₵23, up from ₵17 in March 2024, a whopping 35.29% increase.
What’s Driving the Rise?
Currency-related import costs
Rising global commodity prices
Sticky local inflation, especially in essential goods
With these prices moving higher, households are feeling the squeeze. Even small daily expenses are taking up more of the average Ghanaian’s income.
Currency Watch: The Cedi Is Stabilizing After Gains
The interbank selling rate from the Bank of Ghana stands at ₵10.26 to the USD as of June 11, 2025.
After appreciating sharply earlier in the year buoyed by strong cocoa receipts, improved reserves, and IMF inflows, the cedi is now stabilizing, trading within a narrow range. Analysts believe this stability reflects growing market confidence, although risks remain due to global interest rates and oil prices.
Cedi Snapshot (Jan–June 2025):
January 2025: ~₵11.80
April 2025: ~₵10.10 (peak appreciation)
June 2025: ₵10.26 (stabilized range)
This appreciation cycle has helped reduce imported inflation somewhat, though prices of essential items remain elevated due to other structural factors.
🧬 Public Health Update: Mpox Cases Climb to 85
The Ghana Health Service has confirmed six new Mpox cases, bringing the national tally to 85.
Though no deaths have been reported, the rise in cases calls for continued public education, hygiene awareness, and rapid response from healthcare facilities. Symptoms include rash, fever, swollen lymph nodes, and fatigue.
Stock Market Highlight: GCB Bank Shares Soar 39.7% YTD
GCB Bank has been one of the standout performers on the Ghana Stock Exchange in 2025:
Price at start of year: ₵6.37
Current price (June 11): ₵8.90
Year-to-date gain: +39.72%
What This Means for Investors
A ₵100,000 investment at the start of 2025 would now be worth approximately ₵139,720.This mirrors the broader trend on the GSE Financial Stocks Index, which is also seeing double-digit growth.
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