Chief Investment Officer at Black Stars Advisors, Adjei Boateng, CFA, has projected a strong outlook for the Ghanaian cedi in 2025, suggesting that the local currency could appreciate against major international currencies for the first time in over 20 years.
This projection comes amid a recent rebound of the cedi against the US dollar, euro, and British pound, renewing optimism about the currency’s stability.
In an appearance on The Point of View with Bernard Avle on Channel One TV on May 12, Mr. Boateng attributed this positive trend to improved foreign inflows and better macroeconomic management. He highlighted seasonal patterns that typically benefit the cedi in the final quarter of the year.
“Quarter 4 is significant because our sisters and brothers abroad often come in, send money, and spend generously. This influx contributes greatly to economic activity,” he explained.
Mr. Boateng noted that the flow of remittances and the economic boost from holiday-season spending usually support the cedi’s performance during this period.
“All of this contributes to a strong quarter 4. In years where we’ve seen depreciation in the first quarters, it’s often been minimal. Generally, there’s a significant increase in remittances, and events like Detty December show the positive impact of our diaspora coming home,” he added.
His comments reflect growing market confidence in the cedi, driven by Ghana’s efforts to stabilize its economy and attract foreign investment.
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