Prof. Mensah Predicts GH¢10/$1 By The Time Full Implementation Of 24-Hour Economy & Agriculture Initiatives

/ Ghanaian economist Prof Lord Mensah predicts stronger performance for the local currency, citing fiscal discipline and bold reforms by the Mahama-led administration.

👉 Cedi Strengthens: Local currency gains marginally after months of depreciation.

👉 Mahama’s Policies Credited: Economist attributes improvement to fiscal consolidation and economic reforms.

👉 Future Outlook: Cedi expected to fall below GH¢10/$1 with full implementation of 24-hour economy and agriculture initiatives.

Prof. Lord Mensah forecasts stronger cedi as agriculture and 24-hour economy policies
take full effect.

Ghana’s local currency, the cedi, is beginning to show signs of strength again, and according to renowned economist Professor Lord Mensah, the turnaround can be directly linked to fiscal reforms and policy initiatives under the leadership of John Dramani Mahama.

In a post shared on his official X (formerly Twitter) account, Prof Mensah expressed confidence that the cedi could reach GH¢10 to the US dollar in the near future, driven by ongoing economic reforms and upcoming policy rollouts.

“The cedi is just appreciating on the heels of fiscal consolidation and financial discipline by the current administration. By the time the 24-hour economy and agriculture policies kick in, the Cedi will be selling at 10 Cedis to the dollar. Let me go change my dollars, quick,” Prof Mensah wrote.

The Ghana cedi, which started 2025 on a shaky note trading around GH¢16 to $1, has since strengthened to GH¢14.15 per dollar at the Bank of Ghana, with forex bureaus in Accra quoting around GH¢15 per dollar as of early May.

While earlier gains were largely attributed to a weaker US dollar on the global market, recent improvements have been tied more directly to internal reforms:

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👉 Fiscal consolidation: Government efforts to reduce deficits and manage public debt.

👉 Expenditure rationalisation: Strategic spending and reduced financial leakages.

👉 Market confidence: Improved investor and public sentiment, especially with pro-growth policies like the 24-hour economy and agricultural revitalization initiatives on the horizon.

Prof Mensah’s remarks reflect growing optimism among some economists and market watchers that Ghana's economic management strategy may be turning the tide in favor of long-term currency stability. However, he cautioned that consistency, transparency, and policy execution will be critical.

“Reforms must not only be announced but aggressively followed through. If Mahama's administration can maintain this momentum, we’ll see real growth—not just in currency strength but in national productivity,” he added during a separate interview on local radio.

Traders, importers, and small business owners have cautiously welcomed the recent gains, though many remain skeptical of a sustained rally given Ghana's past struggles with inflation, debt servicing, and forex scarcity.

Social media comments and reactions below

👉 @Tagbor5 said: I think the appreciation is largely attributed to the trade war uncertainties and decreasing crude prices. However, the managers of the economy also deserve some praise for being fiscally responsible. The current appreciation isn’t sustainable until goldbod & agric kicks in.

👉 @Mohammed_9266 also said: I foresee dollar going for ghc3 sometime in August 2026.

👉 @Kodzo_SENYO said: Not to disregard the government's efforts, but is the US Dollar itself being under pressure owing to Trump administration policy be one of the reasons for the cedi's recent performance?

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