Prez. Mahama Uses Humor to Highlight Renewed Confidence in the Cedi

Former President John Dramani Mahama injected humour into the Cedi@60 anniversary celebration as he playfully teased Ghanaians who often lament receiving fewer cedis when exchanging foreign currency.

Speaking at the event on Tuesday, November 17, themed “Sovereignty, Stability, and Economic Resilience,” President Mahama recalled past travel experiences where members of his entourage would anxiously calculate prices abroad in cedis before deciding whether to buy.

“In the past, when we travelled with our security and drivers and they got their per diem, anytime they went to the shop to buy a few things, they always used their calculator. If they saw a shoe for 120 pounds, they would convert it into cedis and shout, ‘What?!’ When they saw how many cedis they would get for the money instead, they would say, ‘No, I won’t buy. I’d take it home,” he said, drawing laughter from the audience.

He joked that such “calculator shoppers” might not be too pleased with the Bank of Ghana today, given the cedi’s stronger performance.

“I’m sure they will not be very happy with the Bank of Ghana and Governor Asiamah, because now, when they use that calculator, it will not be as much as it used to be before,” he teased.

President Mahama used the anecdote to underscore what he described as renewed confidence in the cedi, pointing out that landlords who once demanded rent in dollars now prefer payment in cedis.

“Today, people are quoting in cedis. Even house rent, you want to pay in dollars, and he says, ‘No, pay me in cedis.’ A lot of respect has returned to our currency,” he added.

He went on to commend the Bank of Ghana, the Ministry of Finance, and their teams for their stewardship of the economy, noting that Ghanaians appreciate the progress achieved.

The celebration comes at a time when the cedi has shown signs of resilience. Market data from November 11 indicated the local currency closed trading at GH¢10.92 to the US dollar, a 0.64% dip from GH¢10.85. The British pound also dropped by 0.37% to GH¢14.37, while the euro edged slightly higher to GH¢12.64.

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