Accra: The Ghana Union of Traders Association (GUTA) has announced that importers are now able to plan their businesses with greater certainty as the cedi has remained relatively stable for about 15 months. Speaking on Channel One News' Quarterly Economic Outlook on April 27, 2026, Vice President of GUTA, Joseph Paddy, highlighted that the stability has eased pressure on traders who previously had to constantly adjust prices due to exchange rate fluctuations.
According to Ghana Web, Paddy explained that when the exchange rate drops, it benefits the business community due to the high cost of doing business. In previous years, traders faced sudden changes in the exchange rate even before their imported goods arrived in the country, complicating accurate cost calculations. He noted that, "previously, in our business, before the vessel would arrive, the exchange rate would move even before you clear the goods. But now, the rate is stable."
In 2025, the cedi appreciated significantly, rising from about GHS14.70 to the US dollar at the end of 2024 to around GHS11.0 in 2026, before stabilizing. This development has reduced the cost of imports, allowing a trader importing goods worth US$100,000 to save about GHS370,000 compared to late 2024 exchange rates.
GUTA also emphasized that the stability has improved business planning and reduced risks associated with currency volatility, especially for members who rely heavily on imports. The association represents over 28,000 traders across the country.