The Dormaahene, Osagyefo Oseadeeyo Dr. Agyeman Badu II, has commended President John Dramani Mahama for his observations on the recent appreciation of the cedi.
The chief praised Mahama’s economic insight and urged the current government to focus on maintaining the cedi’s stability.
According to him, Mahama’s understanding of economic trends, particularly the cedi’s recovery against the US dollar and other major foreign currencies, deserves commendation.
“What has really interested me most about your tenure is our currency. The exchange rate moved from GHC4.00 to GHC17.00, but recently, I saw it was GHC16.5 to the dollar when I went to China.
“Today, I checked the rate on my phone, and it’s GHC10.29. I believe you’re doing something right,” he stated.
Dr. Agyeman Badu II, Dormaahene and High Court judge, made these remarks during President Mahama’s visit to Sunyani as part of his ‘Thank You’ tour on Friday, May 30, 2025.
He expressed confidence in Mahama’s ability to sustain the local currency’s strength, suggesting a target exchange rate of at least GHC8 to the dollar.
He recounted how his wife loaned him money abroad during his recent trip to China, but she insisted on being repaid in cedis despite providing the loan in dollars.
“When we were in China, our money got locked, and I had to borrow from your sister. I took dollars from her, but when I was paying her back, she said she wouldn’t take dollars – she wanted cedis. I’ve never experienced anything like this before,” he said.
He advised Mahama to disregard critics, especially those in the diaspora, and focus on reducing inflation and stabilising the cedi for the benefit of all Ghanaians.
“Some people are saying you should hold on a bit, but if it were up to me, you’d take it to GHC5.00 by the end of the year. Next year, if possible, make it 1:1. When the dollar reaches GHC8.00, I’ll even carry you on my back for a one-kilometer walk,” he joked.
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