A leading Ghanaian pressure group, Arise Ghana, has praised the stabilisation of the Ghanaian cedi over the past year, describing the currency’s recovery as a remarkable turnaround that has positioned it among the world’s top-performing currencies in 2025.

According to the group, the cedi’s stability between GH₵10.4 and GH₵10.6 to the US dollar marked a significant departure from the economic turbulence inherited in January 2025.

Addressing journalists at a press conference in Accra as part of the group’s independent assessment of President Mahama’s administration’s first year in office, the Co-Convener of Arise Ghana, Marion Gifty Nyaaba, stressed that the appraisal was an act of democratic accountability aimed at moving beyond partisan rhetoric to assess the fulfilment of the social contract between government and citizens.

She recalled that at the start of the year 2025, Ghana was grappling with severe economic challenges, including inflation exceeding 23 percent, a rapidly depreciating cedi trading close to GH₵16 to the dollar, and rising public debt.

This, she said, the period was characterised by escalating food prices, high fuel costs, and social unrest that pushed businesses and households into survival mode.

“Last year, Ghana was not just uncomfortable; we were cornered, trapped in a web of economic turmoil, social unrest, and institutional fragility, noting that these conditions translated into daily hardships for ordinary citizens.

Madam Marion Nyaaba said the past twelve months have represented a pivotal transition from economic instability to restored fiscal sanity.

She highlighted improvements in macroeconomic indicators, including a decline in inflation to 5.4 percent and a rebound in economic growth to over six percent.

Madam Marion Nyaaba said the cedi’s resurgence, marking its first annual appreciation in over three decades, was driven by restored fiscal discipline, the accumulation of foreign reserves beyond US$11 billion, and improved export earnings.

She added that structural reforms have been key to the recovery, pointing to the creation of GoldBod, which has streamlined gold aggregation and strengthened traceability, contributing an estimated US$4 billion to the nation’s reserves.

The Co-Convener of Arise Ghana, also pointed to the reactivation of the Tema Oil Refinery (TOR) in December 2025 as a step towards reducing dependence on costly refined petroleum imports.

Touching on the domestic front, she commended the government for providing relief to citizens and small and medium-sized enterprises through the abolition of the E-Levy, the COVID-19 Health Recovery Levy, and other taxes, including those on betting and emissions.

According to Madam Marion Nyaaba, these tax reforms have injected billions of cedis back into the economy and eased production pressures.

However, she cautioned that progress must be safeguarded. “Change has come, but we must guard the change not just in government, but in the way we are governed,” she said.

Arise Ghana threw its support behind Operation Recover All Loot (ORAL), an initiative aimed at reclaiming misappropriated state assets and lands, and urged the Mahama administration to remain committed to transparency and inclusive growth.

While acknowledging that the immediate threat of economic free-fall has been averted, the group emphasised that stability is only the foundation for prosperity.

Madam Marion Nyaaba called on Ghanaians to remain vigilant in holding leaders accountable to ensure that the sacrifices made by citizens translate into lasting progress and integrity.

Arise Ghana is a pressure group that spearheads a campaign against what it describes as persistent misrule, mismanagement, and maladministration in the country.

The group seeks to defend the collective interests of Ghanaians, amplify the voices of the marginalised, and actively pursue essential social, economic, and political reforms.