Ghana in Focus Economy Special: Why Ghana's currency lost 13% of its value and what it means for you

Ghana's currency, the cedi, has recently experienced significant fluctuations that have captured the attention of economists, business owners, and everyday Ghanaians alike. After appreciating by an impressive 50% against the US dollar between January and June 2025—making it the world's best-performing currency during that period—the cedi has since lost approximately 13% of its value in just one month. This sudden reversal has raised questions about the stability of Ghana's economy and the effectiveness of current monetary policies.

The depreciation of the cedi can be attributed to several interconnected factors. Foremost among these is the seasonal surge in dollar demand for imports, particularly as businesses prepare for the lucrative Christmas market. Between September and late November, Ghanaian importers typically require substantial amounts of foreign currency to purchase goods. This creates a significant pressure on the cedi as businesses scramble to secure US dollars for their operations.

Another crucial factor has been the Bank of Ghana's reduced intervention in the forex market. Earlier in the year, the central bank actively supported the cedi by purchasing dollars and injecting them into the economy. However, in alignment with IMF commitments, the Bank of Ghana has now adopted a more cautious approach, scaling back its direct market interventions.

Despite these challenges, it's important to note that the cedi's performance isn't all negative. When viewed in a broader context, the currency is still up by 23% year-to-date, which represents a relatively strong position compared to January 2023. Furthermore, Ghana's international reserves reached a three-year high of $11.1 billion in June, providing a potential buffer against excessive currency volatility. 

This more balanced approach to currency management has coincided with positive developments in Ghana's inflation rate. August's inflation figure of 11.5% represents a four-year low since October 2021. Food inflation has also shown modest improvement, declining from 15.1% in July to 14.8% in August. These figures suggest that while the cedi's depreciation presents challenges, the overall economic situation is gradually stabilizing 

Looking ahead, Ghana has several options for strengthening the cedi and building a more resilient economy. In the short term, finalizing external debt restructuring, enforcing stricter forex market regulations, could help stabilize the exchange rate. More fundamental solutions include boosting local production to reduce import dependency, expanding non-traditional exports such as textiles, improving domestic revenue collection, and renegotiating more favourable terms for gold, oil and Lithium.

Chapters

• 0:00 Introduction to Ghana in Focus
• 3:09 The Cedi's Recent Depreciation
• 4:41 Key Factors Behind the Currency Decline
• 12:31 Impact on Inflation and Consumer Prices
• 17:56 Short-Term Solutions for Currency Stability
• 22:14 Long-Term Economic Strategies
• 31:41 Eliminating Dollarization in Ghana's Economy
• 36:07 Closing Thoughts and Next Episode Preview

Transcript

Speaker 1: 0:04

Welcome to this week's edition of Ghana in Focus with myself Kwame, ghanaian writer, broadcaster, journalist, podcaster and entrepreneur. And in this week's edition of Ghana in Focus, we're focusing on the economy. So last week we told or a couple weeks ago rather, we told you about the recent trip to Japan by President Mahama wanting to call Japanese businesses, and also about the Pakistan rice fair that was held in Accra recently, and we told you why that was not beneficial to Ghana. This week we're talking about the city, because you may have heard, but recently the city has lost a bit of its value in the last month or so. So we'll tell you about that, why the city lost value, what can be done to stop the fall if the fall is a correction, and other issues behind the city. So, before we get into the podcast, if you like what you hear, please share to your friends, family, social media networks. Please subscribe to Ghana, africa and folks on YouTube Everyone who gets many subscribers as we come on YouTube. So please subscribe to Ghana, africa and folks on YouTube. Hit hit the notification bell, meaning that every time we upload a new podcast, youtube will notify you. Similarly, we're also on Spotify, so please subscribe to Ghana African Vincs on Spotify. Look out for that. On Spotify, click the follow bell, meaning that every time we upload on Spotify, they will the follow bell, meaning that every time we upload on Spotify, they will notify you of that.

Speaker 1: 1:48

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Speaker 1: 2:58

Alright, so let's get into this week's edition of Ghanaian Focus, looking about the city, why it's dropped recently, is it good for Ghana and what can be done to reverse these four? So, if you're not aware, the Ghanaian city has lost 13 only 1.3% of its value in the last month or so. If you recall, in June I did a podcast about the city's appreciation. That before June, or between, rather, january and June, but more specifically April and June, the city was the best performing currency in the world and appreciated something about 50% against the US dollar. So I was thinking about some of the benefits of that and also some of the disadvantages of that. So now we've seen the city lose 13% of its value in the last month or so.

Speaker 1: 3:57

So what you may say are some of the key issues that has enabled this sharp drop within the last three to four weeks. So some key factors behind the city's decline is that you know there's dollar demand for imports, so we're down in September and you know, this time of year, a lot of imports in Ghana look at the Christmas market. Christmas market is a very, very big market within Ghana, particularly amongst the wealthy upper middle class people. That to say big Christmas, and so many businesses are looking ahead to their Christmas market. So people that work in retail, people that bring stuff you know that has non-retail agriculture, et cetera, people that bring stuff you know that is non-retail agricultural products, etc. People are looking ahead. And so between now and you could say the peak time, between now September and probably early late November, there's going to be a high demand for dollars. Yeah, because obviously these importers are going to go out of Ghana, go to places like Dubai, china, and take the dollar with them and buy the goods in dollars that they're going to bring back to Ghana to sell. And so, because of this, businesses are scrambling to ensure, as I mentioned, us dollars, particularly ahead of the Christmas season. So this is a period, like I mentioned, us dollars, particularly ahead of the Christmas season. So this is a period, like I mentioned, when Ghana's economy becomes import heavy. This is why you've seen a spike in the demand for goods, ranging from food to machinery. Hence why the demand for the dollars.

Speaker 1: 5:46

Also, another reason for the sharp depreciation in the city in the last month is limited central bank intervention. So, as I mentioned in June, one of the reasons why, one of the reasons not saying the reason, but one of the reasons why the city appreciated against the dollar, was because the bank of ghana was essentially buying dollars, yeah, and pumping that into the economy, yeah. So that intervention by the bank of ghana enabled the city to gain traction against all major currencies, including the us dollar. So now what the Bank of Ghana is doing now? They're scaled back in direct support in the false market and they are choosing a more cautious approach, ie not buying dollars to prop up the city, and this approach is now aligned with the IMF commitments. So this means that commercial banks are not getting all the dollars that they need, hence creating a supply crunch. So because Ghana is on the IMF programme, ghana has to adopt and be pragmatic with some of the conditions that is contained within the IMF agreement. And so you know, the intervention that we saw in the second quarter of the year is now being scaled back by the Bank of Ghana, and this is another reason why the city had depreciated against the US dollar.

Speaker 1: 7:24

Now also, seasonal pressure meets structural constraints. What do we mean by that? So, even though Ghana's international reserves hit a three-year high of 11.1 billion in June, the central bank is holding back from fully deploying this 11.1 billion. Yeah, that would that make sense because, rather than put that money into the economy, yeah, they're saving that money for a rainy day, which makes sense. So the central bank is holding back from deploying this reserves and putting that into the economy, so they're withdrawing that, that 11.1 billion of reserves that's been, that's been gained recently. Yeah, it's been pulled back by the government.

Speaker 1: 8:10

So that, or rather, the central bank, yeah, so what that is doing is allowing the currency to give like a artificial, um, an artificial level, as opposed to a superficial level that we saw, you could say, in the second quarter. So now the Bank of Ghana's aim is to ensure that the city maintains ordinary fluctuations, rather than the aggressive defense of the city. So, rather than have a situation know, defend of the city, so, rather than have a situation whereby the city goes up and down. So, for example, particularly 2022, when the city lost a whopping 50 percent of its value, and even though one month having the city lost 25 percent of its value. The government, or the bank of ghana wants to avoid that sharp and inordinate fluctuations, so they're leaving that 11.1 billion aside and looking at how the city will perform without being superficially or artificially tampered with.

Speaker 1: 9:20

Now, the last reason why the city has depreciated against the dollar is that, you know, it's like a balance. Basically it's like the gains that were created in the second quarter have now been balanced out by this fall. Now what do I mean by that? So the city's strong performance early on in the year, particularly in the second quarter, was a whopping 50%. Yeah, so this made imports cheaper, yeah, and more attractive. But now this had a reverse turn of 13 exporters so imported. Because the city was strong against the dollar, it made imports cheaper. However, on the super side, those companies and businesses were exporting from Ghana to other territories. It was more expensive. Now the current depreciation of the city is like a realignment to correct the rebalance that you have between imports and exports. So, even though the city has lost 30% of its value in the last month alone, when we look at it as a whole between January and September, it is still 23% year to date so far, even though the last month has been a bit, has declined. Despite that, the city year to date is still up 23%, which is very, very respectable.

Speaker 1: 10:53

Yeah, so, even though this third quarter that we're in now has been a bit rough, yeah, it's not a full-blown crisis. So, you know, if you are wanting to come to Ghana to do business here or if you are a diaspora who is worried about the exchange rate, yeah, you shouldn't be worried because, basically, right, the city is still strong compared to what it was in the beginning of the year and inflation in Ghana now is very low compared again to what it was at the beginning of the year that when you bring your dollars or pounds, you will get more than what you would have done in June, july and early August when the city was very, very strong against the world currencies. So we're not going to focus on inflation. So I mentioned a point in June when the city appreciated, yeah, was that you know a lot of Ghanaian businesses? Yeah, were not, you know, bringing down the price of goods and services, particularly food, and, as I mentioned at the time, there was a cost of living crisis in Ghana and that the high city, or rather the appreciation of the city, should have allowed goods and services to come down in Ghana, but because of little nuances here and there and some greed is also you know the price of goods and services were not coming down as fast as they should have been. However, you know, because the city has been fairly stable, despite this 13% depreciation in the last month or so, the city city you know the city, you know inflation, right, has begun to come down. Yeah, and that has, in turn, helped you know, the cost of living crisis that Ghanaians were experiencing, particularly in the last couple of years. By now, prices of goods and services, and particularly food, is beginning to come down.

Speaker 1: 13:00

Now, looking about some research that I did. Now, prices of goods and services, and particularly food, is beginning to come down. Now, looking about some research that I did earlier on, you know, ghana's cumulative inflation for August is 11.5%, which is a four-year low since October 2021, when it was last in this region. So that shows that during the, the turn of the year, month by month, by month, right, this is signaling and downward trend in terms of inflation. Yeah, because of the strength of the city, particularly for the city, and so you know this has impacted again when we look at, you know, food inflation. So food inflation was 15.1 percent in july. Yeah, in august that's gone down to 14.8 percent. Yeah, so that has shows you that the prices of some gluten-sensitive, particularly food is beginning to come down in Ghana and this is a welcome development.

Speaker 1: 14:07

So despite that though, there's also a flip side to this the picture of the city and why that affects that, could typically feel inflation, right. So when the city loses value against the dollar, right, imports become cheaper. And because Ghana is an import-led economy in more cases than not, yeah, in terms of fuel, food, machinery, pharmaceuticals, etc. Right, when the city weakens food, machinery, pharmaceuticals, etc. When the city weakens, these goods and services become more expensive than local currency, pushing up consumer prices. But, like I said, inflation now is 11.4%. I'm not saying that the prices of goods and services are not going up. What it means is that the rate of that increase is much slower than what it was in the beginning of the year. So in the beginning of the year, right, inflation was 25%. Now, in September, that's now 11.5%. So that's a big drop. Yeah, that's nearly, you know, half of what it was in the beginning of the year.

Speaker 1: 15:18

So even though inflation is, um, the city has appreciated or depreciated rather recently. You know that has enabled the prices in some areas to come down. But, like I said, inflation is still there and it's a real thing that affects, you know, ordinary citizens in Ghana. So again, you know inflation, also fuels, transport and utility costs. So even just recently, you know, the Water Company of Ghana and the Electricity Company of Ghana have advised the PURC, which is a regulatory committee, that because of and this is nothing to do with the city, right, but because of, you know, imbalances in the system, they need to put up utility costs by something about 200%. Yeah, that's despite inflation being low and despite the city performance against the dollar and major currencies over the last, you know, eight to nine months. So again, you know transport prices because of fuel, the fuel imports, you know fuel prices hikes and that has a ripple effect for the economy. So when petrol goes up, right, that has a domino effect in the economy, affecting transport fares, utilities and pollution costs. And also, again, this amplifies business as well, because obviously the city is depreciated, so imports are going to be expensive and that puts higher costs on businesses who most likely are going to pass on to the consumer. So that's sort of the downside of the city depreciation.

Speaker 1: 17:02

So we're now going to go into some of the measures that the government can adopt to A stop the slide B give the city a more realistic stability. What I mean by that is that you can never give the city a more realistic stability. By what I mean by that is that you can never see the city, even from now, being under 10 cities to a dollar. I don't think that's going to happen. I don't think it would work for the economy as well, and so that's going to be a level between 10 and 12 cities that the government needs to work on, and also other measures that can be done to stop this devaluation of our economy in parts of it where the local currency can be used instead. That can also make the city stronger. So we're going to give you some areas now as to what can be done. Yeah, to stop the depreciation of the city.

Speaker 1: 18:04

Now, the first thing you know and we're going to put this into two ways we're going to we're going to give you like a immediate measures, short term, and that's not six months, and then a lot, and then also long term six months to the next election in 2028, so short term. So this is what Ghana can do short term. So Ghana can lock IMF and donor funds, so finalising external debt. And I hear a report that was used by the IMF in Ghana that they are predicting that by the end of this year, ghana's GDP debt ratio would be like 50%. Yeah, and if you recall in previous shows I mentioned about the economy, you know, particularly under the last government, the debt GDP ratio was something about 105%. So if you know they are going to be able to get the debt down to 50%, that would signify a significant trajectory within the whole economy. And so you know when the government gets its next chunk from the IMF and also gets support from the other Bretton Woods financial bodies, like the World Bank and like the IFC, you know it can also help boost foreign reserves. Yeah, that can also be stored for a rainy day, or some of it can be pumped into the economy to save us the city again.

Speaker 1: 19:48

What can be done to stop depreciation? Again, this is a problem that we have in Ghana enforce forex market regulations. So you know Ghana has a very, very robust forex market regulations. So you know Ghana has a very, very robust um forex market. However, you know, in a lot of western and asian countries you don't get a lot of. The only reason you need forex right is when you're putting on the holiday. So, for example, in the UK you know people are going to change money right if they're going abroad for the holiday. As well, as you know businessmen who are going to, you know, go to maybe US or whatever and leave the dollars to do some business transition whatever. But more so out of times is people going to go on a holiday to get forex here. But in Ghana, because of the way our economy is structured, that some places are in dollars Now, coming to that, you know later on, there's a lot of forex bureaus up and down the country, particularly in the capital of Accra, and so you know, and the forex bureaus are not really regulated, as well as the so-called black market.

Speaker 1: 20:56

So you've got black market tiers who sell pounds and dollars, yeah, at higher levels than the forest bureaus. So some people, when they want foreign currency, don't go to a bank per se because the bank's not really giving them out anyway, as I mentioned at the beginning. Also, you know the forest rates are not as high but higher than the bank rates. So many some Ghanaians will go to these um black market so-called black market um dealers and get a high rate, and so now what needs to be done is that the bank of Ghana needs to enforce strict forex market regulations, and they can do this on two accounts. So, one, they can carry limits right for travellers and also business businesses yeah, that there's a certain amount of dollars that you can buy. They should also have documentation for forex purchases and transfers so that you know it's more transparent. Also, pricing for goods and services should be in cities only, and I'll come on to that in a minute. And then also, like I mentioned, preventing black market forex trading and laundering yeah.

Speaker 1: 22:19

So these are some of the short-term measures that the government can do in order to, you know, stop the city further sliding. Now, long-term measures now, or mean to long-term, which is like six months to 24 months. So what the government can do is and I keep and this is why I made the point I was thinking about japan investment and Pakistan investment right, ghana can boost local production and add value, so it's strengthening initiatives like what the last government did, right, the District 1 factory, yeah, and that ties in to Mohammed 24, our economy, right, Whereby we can modernise, yeah, for yeah, for example, our culture to reduce import dependency and increase export earnings. So this ties in what I mentioned last week about, about we don't need pakistan rice and we don't need um japan investment, because if we strengthen one district, one factory, one, one village, one dam, these initiatives that were good on the, if we were to take that to another level, particularly circling around agriculture or focusing around agriculture, aquaprocessing, etc. That will significantly reduce our import dependency and therefore we will not need to change to import. That will significantly reduce our import dependency, yeah, and therefore we will not need to change to the dollar to import, particularly agricultural products. Yeah, and also that will also increase export, because the more we export, particularly agricultural products, like cashew, like cocoa, like coffee, like you know manufacturing products, like you know manufacturing products, yeah, the more earning or the more foreign income Ghana will be earning into its coffers, which again can be used to either a prop up the city or b use for rainy day.

Speaker 1: 24:16

Again, ghana could expand non-traditional exports. What do you mean by that? So, invest in other sectors, like textile? Yeah, because on the increment, ghana had a very, very thriving textile industry. We could invest in horticulture, yeah, like things like tulips. Yeah, flowers, that tropical flowers that are grown in Ghana's condition. Yeah, we could invest in digital services. Process cocoa. Yeah, to diversify, you know foreign exchange infos into the country.

Speaker 1: 24:50

Again, as a medium to long-term strategy, the government of ghana could raise domestic revenue. Yeah, improve property tax collection. So you know that's like in this country, in the uk. You know your council tax. Ghana does not have. So you know that's like in this country, in the UK. You know your council tax. Ghana does not have a property. You know a well-functioning, well-organised property tax. So, again, to boost revenue, you know revenue generation Ghana.

Speaker 1: 25:17

The government of Ghana needs to robustly improve property tax. Yeah, have it collected. And more property tax. Have it collected and, more importantly, have it managed. Also, definitely, review tax exemptions, because under Vlad's government's right, the eight years the MPP were in power, there were some ridiculous tax exemptions up to about the value of something about 8 to 10 billion dollars. You can't give 8 to 10 billion dollars of tax revenues away by having these tax exemptions. And so what the current government must do and this is why I keep on saying we don't need foreign direct investment it can be in house or give African Americans and Africans over Africans from the continent and the diaspora. Give them incentives right to invest in your country, and so review tax exemptions, particularly for African and African-American business owners. Yeah, and also something that I've mentioned time and time again tap into natural resource revenue right To reduce your reliance on external borrowing. What do you mean by that?

Speaker 1: 26:28

Ghana needs to get more revenue from oil, from gas and oil, and from the mining, particularly gold and lithium. Now Let me come to oil and gas. Let me come to oil and gas. From the information that I have at my disposal, ghana gets about 12% to 30% oil revenue. Yeah, and that's not enough. The very minimum Ghana should be getting is about something like 25%, so a quarter. Yes, we know these companies put billions to invest in your oil fields, but if the raw material isn't there, all the machinery in the world can't extract that raw material. So the government of Ghana needs to advise itself that we have the resource and that these countries are just using their capital to exploit the resource without. Without the resource, there's nothing there. So the government of Ghana needs to review some of these oil and gas contracts right and get more revenue or royalties from those resources.

Speaker 1: 27:36

Again, look at gold. Gold is now at a new all-time high, is now at a new all-time high, I think this week or last week, now selling at 3,500 US dollars an ounce. Yeah, so we should be getting more from these mining companies. I'm not talking about illegal mining. I'm talking about the big boys, the large corporate-scale mining in Ghana Companies like Anga Goreshanti, companies like GoF money in Ghana, companies like Anga Gold Ashanti, companies like Goldfields Ghana, companies like Newmont Ghana, companies like Redback Mining from Australia yeah, all these gold mining companies who operate in Ghana. So you're paying more, yeah, in terms of royalty, to begin from gold, because apparently, again from my research, the government of Ghana gets a poetry 4-5%. Think about it now 4-5%, and yet gold is at record prices, but yet Ghana isn't getting 4-5%.

Speaker 1: 28:35

And yet again, if you look at the research, ghana is the number one producer of gold. So, of all the countries in the world, ghana is the number one producer of gold. So, of all the countries in the world, ghana is the number one producer of gold, beating South Africa. And yet we get 4 or 5% of royalty from that. And look at how much gold was mined in Ghana last year it was 5 million ounces was mined in Ghana last year and this year it is predicted that 5 to 6 million Ounces of gold will mine in Ghana this year. You times 5 million ounces by 3,500 ounces Sorry, 3,500 US dollars per ounce. You do the math and see how much Ghana will make from gold this year. And yet, because when we revise the contracts We'll get a pittance.

Speaker 1: 29:24

And finally, look at lithium. Lithium is a nuclear block. Lithium is now responsible for AI. Lithium is now responsible for you know these electric cars, so batteries in electric cars need lithium. And also other, you know cordless lawnmower, cordless. You know vacuum cleaner all these products, right, need function on lithium ion batteries, and that lithium ion batteries is made with lithium. And Ghana has lithium in abundance, but yet Ghana is getting 5% again from the Australian company that is. And Ghana has lithium in abundance, but yet Ghana is getting 5% again from the Australian company that is mining lithium in Ghana, which should be getting at least 30% of that revenue into the Ghana economy and that will, you know, make our economy more stronger. That will make revenue more stronger, hence nullifying and negating the need for external borrowing again. What Ghana can do also is to attract rather than go to Japan or Pakistan, attract diaspora inflows. So incentivize this is what I said last two weeks ago incentivised diaspora investment and remittances into long-term projects, yeah, and improving the business climate to attract more Africans into Ghana. Right, to allow them to invest. That will also boost your revenue and boost the value of the city. And finally, as a large medium strategy, why Ghana can also reduce its fiscal deficits, ie by prudent public spending, better revenue collection, better tax collection, which will ease pressure on the central bank and reduce the need for foreign borrowing. So these are what the government and Ghana can do in both the short, medium and long term. Now, finally, on this, I'm going to tell you why. You know and the big thing here that the government should also calm down on modernisation of the economy Because, like I mentioned before, you know there's two more dollarizations of our domestic pricing.

Speaker 1: 31:46

So landlords charge, particularly landlords in nice areas of Accra charge US dollars for rent, not city. A lot of schools, particularly the so-called international schools, they charge US dollars. If I want to buy a new car, I've got to buy US dollars. If I want to buy a new house, I've got to buy US dollars. If I want to buy a new house. I've got to buy US dollars If I want to even get a room in a hotel for a few nights, that's in US dollars. Why? That puts pressure on the city because people are now to pay your son's school fees or daughter's school fees. You've got to buy cities. Use your city to buy dollars to pay for your children's school fees or daughter's school fees. Right, you've got to buy cities, so use your city to buy dollars to pay for your children's school fees.

Speaker 1: 32:25

Why, in the big economies in Africa Kenya, south Africa, nigeria, morocco, algeria those are the five top economies of Africa. Right, all those countries use their local currency. So in South Africa, it's the South African Rand, in Kenya it's the Kenyan Shilling. Right In Morocco, algeria, right, it's, you know, the Dinar. Yeah, so they price everything in their local currency, hence making their local currency strong. Because if you look at a chart, get a chart right and look at the strongest currencies in Africa, right, the city is there. Right, but you see the top ones is basically Algeria, morocco and I think, tunisia as well. Yeah, because they localise everything. Yeah, they don't localise nothing. Everything is in local currency. So that makes the practice stronger. That means the currency is stronger, rather.

Speaker 1: 33:24

So what we're going to do in Ghana is that we're going to stop all this because a when you present something, some key things, in dollars, right, it creates unnecessary demand for, for, for dollar, forex, yeah, and that's why I said they also mentioned the black market, because Ghanaians will go, rather go to the black market and get more for the city, yeah, then go to the regular to focus dealer or the bank again, by having everything in dollars, right, it erodes confidence in the local currency. So if citizens see the dollar as more stable, it signifies that the city is unreliable, yeah, and that fuels speculative behaviour that can damage the currency, yeah. So as Guineans, we need to be more patriotic. Yeah, in Britain you don't see people pricing things in euros. If they want to buy a car, buy in pounds. If they want to rent a property, they rent it in pounds, not in euros, because they love the king, love the queen, they want the pound to remain strong and it's about the pounds, not in the euro, because the pound is strong. So we must also make the Ghana city strong, right, by being more patriotic and using the city as opposed to using the dollar.

Speaker 1: 34:40

And finally, on this, you know, the government of Ghana needs to enforce laws to stop people as opposed to using the dollar. And finally, on this, you know, the government of Ghana needs to enforce laws to stop people from using dollars. Right to charge for school fees, new car, new home rental, you know, rental accommodation, et cetera, et cetera. Right, the bank of Ghana needs to enforce laws and make it a criminal offence that anyone who is you know, anyone who is an artisan of goods and services should be fined for charging US dollars. You should be imprisoned and fined accordingly to serve as a deterrent for people who still want to price fees and dollars, who still want to price fees in dollars. So the Bank of Ghana and the government needs to enforce laws that we have already to ensure that nobody prices in US dollars.

Speaker 1: 35:30

Yeah, and also public awareness and patrician drive. This is very important. Yeah, so just recently, muhammad said he urged Ghanaians to protect the city. Yeah, so a natural campaign could be centered around that to promote the city and promote pride in using local currency and experience within cost of all the revelation. And so these are ways and means in which Ghana could use in order to prop up the city and make the city a very, very strong currency now in the short, medium and long term. Prop up the city and make the city a very, very strong currency now in the short, medium and long term.

Speaker 1: 36:07

So I thank you for listening to this special edition of Guardian Focus looking about the city, the economy and why it's important that you know Guardian maintains a strong currency because a strong currency signifies a strong economy. A strong economy signifies a strong nation. So I thank you for listening to this edition of Ghanaian Focus with myself, kwame, ghanaian writer, broadcaster, journalist, entrepreneur. In next week's edition, we're going to shift to health. We wanted to talk about health, but we're going to shift to health next week, looking about the myth of prostate cancer. So prostate cancer is allegedly a big killer of black men. I'm going to, you know, unlock the myth, busting towards that. So it's a special you don't want to miss that Unlocking the issue about prostate cancer. So, from myself, kwame, and from all the crew here on Ghana In Focus, thank you very much for listening and we'll see you next week for some more Africa In Focus. Thank you very much for listening and we'll see you next week for some more Africa In Focus.