The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has called for renewed national commitment to safeguarding the value and future of the Ghanaian cedi, stressing that protecting the currency is a shared responsibility that sits at the heart of Ghana’s economic sovereignty.
Speaking at the opening of the Cedi @ 60 International Currency Conference at the Accra International Conference Centre in Accra, Dr. Asiama urged policymakers, industry stakeholders, global partners, and citizens to contribute to shaping the next chapter of Ghana’s currency.
“May we always remember that protecting the Cedi is not the task of any one institution. And let me say that again, protecting the Cedi is not the task of any one institution. It is a shared endeavour, an endeavour that is rooted in our belief in Ghana’s future.”
Celebrating 60 Years of the Cedi’s Legacy
Dr. Asiama emphasized that the anniversary offers not only a celebration of the national currency but also a moment of reflection. He noted that the Cedi “carries history, our currency has meaning, and our currency has a sense of collective identity.”
Recalling its introduction, he said the Cedi symbolised the confidence and ambition of a youthful nation charting its own economic destiny.
“From its earliest days, the cedi carried the confidence of a young republic that was charting its own economic destiny. Over the decades, it has mirrored Ghana’s triumphs but also our struggles. Remember the periods of progress, there were bold reforms and also moments of hardship that tested the resilience of our institutions and our people. Through all these moments, the Cedi has remained central to policy making, market sentiments and of course our daily lives in every corner of the Ghanaian society.”
Digital Expectations and a Rapidly Changing Global Landscape
Looking into the next 60 years, Dr. Asiama highlighted the dramatic shifts in global financial systems, especially the dominance of digital technologies.
“Young Ghanaians are growing up in a world where value moves instantly, where digital interaction is second nature to them and where expectations of transparency, convenience and accountability continue to rise. Their relationship with the Cedi will be shaped by the trust they place in the institutions that serve them.”
Dr. Asiama stated that the rapid adoption of digital payments, growing interest in Central Bank Digital Currencies (CBDCs) and tokenised assets as well as emerging questions around trust, interoperability and privacy, “require steady leadership, clarity in strategy, stronger coordination across institutions and a thoughtful approach to how the physical and digital dimensions of money will evolve together.”
Bolstering the Cedi’s Role and Fighting Dollarisation
Dr. Asiama reiterated the Bank of Ghana’s commitment to strengthening both the physical and digital dimensions of the currency. He emphasized that while digital platforms expand convenience, cash remains essential for inclusion and economic resilience.
He highlighted ongoing efforts to modernise payment systems and advance the e-Cedi pilot, noting that these initiatives must be matched with strong economic stewardship.
The Governor also underscored the need to address rising currency substitution and dollarisation, which he described as threats to Ghana’s sovereignty.
A Call for Global Collaboration
Dr. Asiama stressed that Ghana’s participation in global currency and payment dialogues is crucial. The conference, with partners from across Africa, Europe, Asia, and the Americas present, exemplifies the collaborative spirit required to navigate modern currency challenges.
“The issues shaping modern currencies cross borders and disciplines, making collaboration indispensable”
He also lauded Currency Research, local and international partners for participating in the conference, further enriching the conversation and broadening possibilities for collaboration.
A Shared Vision for the Next 60 Years
“The Cedi belongs to all of us, colleagues. It carries our confidence, our efforts and our belief in the future of this country. I encourage you all to engage fully, share generously in the discussions and help shape the vision of what the next years of the Cedi should and must look like.”, the Governor of the Central Bank concluded.”
He expressed hope that every Ghanaian — from the child learning to count, to the entrepreneur breaking new ground — will continue to hold the Cedi with pride and trust.
Delivering a presentation at the conference, the Chief Executive Officer (CEO) of Currency Research, an international consultancy organization focusing on currency and payment systems, Jens Siedel, underscored the enduring importance of national identity, economic sovereignty, and resilience in Ghana’s currency system as the country marks 60 years of its currency – the Cedi.
Siedel praised Ghana’s leadership in monetary innovation and described the celebration as an opportunity to reflect on the currency’s deep national significance.
Emphasizing the conference’s first theme, Siedel pointed to Ghana’s banknotes as powerful expressions of national identity.
He described them as “a great calling card for each country” and praised Ghana’s notes for featuring symbolic national figures and landmarks such as the iconic Big Six and the Christianborg Castle at Osu.
Turning to sovereignty, Siedel drew a parallel between modern currency and centuries-old monetary traditions. He referenced the first gold coin minted by the Bank of England — called “the sovereign” — as evidence of the long-standing link between money and national authority.
“Sovereignty has always been associated with money,” he said, adding that a nation’s ability to control its own currency is central to ensuring its prosperity. While endorsing digital payments, he stressed the irreplaceable role of physical currency.
“So on one hand, driving digital agenda, driving digital payments is incredibly important, it’s also important to make sure that your ultimate resort — cash, banknotes, coins — is also going to be available to the public and will always work when nothing else will.”
The International Currency Conference – scheduled to end on Thursday, 20th November 2025 – forms part of the events to commemorate the Cedi @ 60 celebrations.
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Source: Afote Asomdwoe Laryea/ATLFMNEWS
