As the festive season approaches, Ghana’s cedi is once again facing pressure, and economist Dr. Worlanyo Mensah has called for a strategic shift toward local production and consumption. Speaking at Radio Ghana 95.7 on Wednesday, December 3, 2025, he emphasized that the key to stabilizing the cedi during periods of high demand lies in producing more goods locally rather than relying on imports.
Dr. Mensah explained that December consistently brings increased demand for foreign currency. Businesses import products for holiday sales, multinational companies repatriate profits, and individuals traveling abroad create heightened demand for dollars, all contributing to cedi depreciation.
“The solution is simple but crucial: Ghana must produce more and consume what we produce locally,” he said. The economist warned that sectors like health, education, real estate, aviation, and hospitality, which price services in foreign currency, continue to fuel demand for dollars and weaken the cedi.
He pointed to petroleum as a key example, noting that Ghana still refines crude oil abroad, forcing the nation to spend foreign currency on finished products such as petrol and diesel. Unless local production is strengthened, Dr. Mensah said, the cedi will continue to face seasonal pressures.
While acknowledging the Bank of Ghana’s interventions, which have prevented a more severe depreciation, Dr. Mensah stressed that long-term solutions require fiscal discipline, improved investor confidence, and a robust productive sector.
As Ghanaians prepare for Christmas, he advised both households and businesses to be prudent with spending, favor small-scale investments, and support locally made goods. “The cedi will only remain stable when Ghanaian shelves, kitchens, and markets are filled with Ghanaian products,” he concluded.