President of the Federation of Association of Ghanaian Exporters (FAGE), Davies Korboe, has urged government and financial authorities to focus on stabilizing the Cedi rather than simply appreciating its value, citing its importance for exporters’ cost predictability and competitiveness.
Speaking on Metro TV’s BottomLine with Kwesi Afriyie, Korboe emphasized that while a stronger Cedi may sound promising, it is stability—not rapid appreciation; that exporters truly need.
“What we want is predictability. When the Cedi shoots up to GHS17 or GHS18 to the dollar, it throws off our entire pricing structure. It makes it very difficult for us to plan or compete internationally.” he explained
Korboe, who has spent decades advocating for Ghanaian exporters, said many businesses face immense challenges due to volatile currency movements and high lending rates.
“Loans go bad not because businesses are irresponsible, but because the interest rates are simply unsustainable,” he added, proposing a dedicated lending model for the agricultural sector that reflects its unique risks and timelines.
He also supported calls by the Ghana Union of Traders’ Association (GUTA) for traders to adjust prices when the Cedi appreciates.
“If the Cedi gains strength, we should see that reflected in the prices of goods. That’s how we stabilize the market and build trust,” he said.
Korboe concluded by encouraging policymakers to maximize the benefits of the African Continental Free Trade Area (AfCFTA).
“A well-implemented AfCFTA can attract investments, create jobs, and strengthen local production. But it requires serious commitment,” he said.
At a time when Ghana’s economy is under pressure, Korboe’s remarks offer a grounded perspective—calling for practical, people-first reforms that ensure long-term economic resilience.
