Ghana Bans Dollar Pricing in Government Contracts— John Mahama Orders All Deals in Cedis
Ghana Bans Dollar Pricing in Government Contracts— John Mahama Orders All Deals in Cedis Starting July 24
In a significant economic shift, Ghana’s President John Mahama has announced that all government contracts must now be priced exclusively in Ghanaian cedis, starting July 24, 2025. This new rule also imposes a nationwide ban on using foreign currencies, with the goal of strengthening confidence in the national currency and stabilizing the economy.
Okwy Chris responds:
“Seriously, why shouldn’t the Ghana cedi be stronger than the naira? After all, Nigerian contractors seem to prefer getting paid in dollars, and there are claims that some government officials are hoarding foreign currencies!”
This policy is being celebrated as a bold step towards economic patriotism and could pave the way for a new standard throughout West Africa.
