The Ghana cedi emerged as Africa’s best-performing currency in 2025, according to data from the International Monetary Fund (IMF) analysed across more than 20 major economies on the continent.
The IMF data shows that the cedi appreciated by more than 40 per cent against the US dollar in 2025, making it the strongest-performing currency in Africa over the period, ahead of more than 20 other African currencies tracked in the assessment.
The findings come at a time when earlier reports by some international news wires and global financial firms had ranked the Ghana cedi as the fourth-best-performing currency on the continent.
However, the IMF’s latest assessment suggests that, after a full-year review of the data, the cedi emerged as the top performer in Africa in terms of US dollar appreciation.
Market watchers have attributed the cedi’s strong performance to policy measures implemented by the Bank of Ghana and reforms under the IMF-supported programme.
By the end of 2025, the Bank of Ghana had built international reserves of nearly US$14 billion, providing additional support for currency stability.
Sources indicate that the central bank may roll out additional policy measures in 2026 to consolidate gains in managing the cedi’s performance.
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