GNCCI Urges Government to Stabilize Exchange Rate to Boost Trade and Revenue in Ghana

The Ghana National Chamber of Commerce and Industry (GNCCI) has emphasized the urgent need for government intervention to stabilize the nation’s exchange rate, highlighting its importance for improving living standards and sustaining economic growth. The Chamber warned that unchecked fluctuations could negatively impact both local businesses and investor confidence.

Speaking at the Czech–Ghana Business Cooperation Seminar in Accra on September 2, 2025, GNCCI National Treasurer Michael Kabutey Caesar noted that a balanced approach is essential to create a “win-win situation” for importers, exporters, and government revenue. He stressed that stable currency conditions are key to encouraging business expansion across sectors.

Caesar recalled that the President had previously targeted an exchange rate between GHC10 and GHC12 to the US dollar. He expressed concern over any potential escalation beyond this range and urged continued government monitoring to prevent a return to previously high and volatile levels.

The GNCCI also highlighted the impact of currency instability on government taxation. Caesar pointed out that current fluctuations have limited the government’s ability to generate significant revenue from ports, underlining the need for measures that ensure both fiscal stability and fair conditions for trade stakeholders.

The Chamber concluded that while challenges remain, a concerted effort from the government could strike the delicate balance necessary to support economic growth, boost investor confidence, and maintain sustainable trade. Stabilizing the exchange rate, GNCCI argues, is not just an economic priority but a critical step toward broader prosperity for Ghana.

Source: Citi newsroom