Cedi stability brings relief to prices – Importers and Exporters Association

The Executive Secretary of the Importers and Exporters Association of Ghana, Samson Asaki Awingobit, has praised the recent stability of the Ghanaian cedi, stating that it is easing pricing uncertainties and helping drive down the cost of goods on the local market.

Speaking in an interview, Awingobit highlighted how the improved exchange rate is changing the way traders operate, particularly in major commercial hubs like Abossey Okai and Okaishie.

“Until recently, traders would delay pricing their goods until they could confirm the day’s exchange rate often relying on black-market sources,” he explained.

“But with the cedi now more stable, that uncertainty is disappearing. It’s making pricing easier and more predictable.”

He noted that with the dollar now more accessible through official banking channels and the exchange rate improving from around GH¢14 to GH¢12.30, reliance on informal forex markets has dropped significantly.

“Previously, if you priced goods at GH¢15 or GH¢20 because the dollar was GH¢14, you’d worry about price fluctuations. But now, with the rate at GH¢12.30, there’s more confidence, and this is beginning to reflect in the cost of goods,” Awingobit said.

He also pointed to early signs of price reductions in the market.

“Just a few days ago, my wife told me that a container of Frytol that used to cost GH¢1,200 to GH¢1,300 is now selling for GH¢600 to GH¢700. That’s a significant drop,” he revealed.

Awingobit urged the government to build on the momentum, stressing that sustained currency stability will benefit both consumers and businesses.

“This is the time for policymakers to lock in the gains. The stability of the cedi is not just about numbers, it’s about real impact on livelihoods,” he said.