The Bank of Ghana (BoG) has called on businesses operating within the country to conduct transactions in the Ghanaian cedi.

According to him, this is part of a broader effort to sustain the currency’s recent appreciation and maintain macroeconomic stability.

Speaking at the 9th Ghana CEO Summit, BoG Governor, Dr. Johnson Asiama underscored the importance of reinforcing confidence in the cedi by increasing its use in domestic trade.

He noted that this would also ease pressure on the country’s foreign exchange reserves.
“Let me emphasize that the cedi remains the only legal tender in Ghana and as businesses we must ensure that transactions going forward are conducted in our local currency,” he said..

The Governor added that the Central Bank is working with key institutions to shift from short-term financial fixes to more sustainable, long-term funding strategies.

This includes efforts to revitalize the domestic capital market.
“We are working closely with the Ministry of Finance, SIGA and the Ghana Stock Exchange to revive Ghana’s domestic capital market even as economic stability returns,” he added.

Dr. Asiama also addressed the growing presence of cryptocurrency in Ghana’s financial landscape.

He highlighted the need for swift regulatory action, revealing that nearly 17% of Ghanaian adults are already engaged in crypto-related activities.
“We are aware that we have nearly 17 percent of Ghanaian adults already holding crypto assets including strong adoption amongst our youth, among tech entrepreneurs and even among women led businesses. Therefore we cannot afford a regulatory vacuum that have existed for this while,” he explained.