President John Dramani Mahama has said his government’s $10 billion New Economy Programme is expected to help strengthen the cedi by increasing local production, expanding exports and reducing Ghana’s dependence on imported goods.

He said the four-year programme, which forms a major part of the 2027 Budget, is designed to transform the structure of the economy and build a stronger productive base to support the local currency.

New cedi notes to enter circulation on December 1 - BoG

Speaking at the launch of the new Heritage Series cedi notes on Thursday, November 12, 2026, President Mahama said Ghana must produce more of the goods it consumes and process more of its raw materials into finished products for both local and international markets.

According to him, heavy reliance on imported goods puts pressure on the cedi because businesses and households require foreign exchange to pay for products that could be produced locally.

“We are working towards an economy that produces more of what we consume, processes more of what we grow and earns more from what we export to the world,” he said.

He explained that increasing local production would create jobs, support Ghanaian businesses and reduce the amount of foreign exchange spent on imports. He added that expanding the country’s export base would generate more foreign currency and ease pressure on the cedi.

“The link to the cedi is clear. Expanding and diversifying our exports can bring in more foreign exchange. Producing more at home can reduce our dependence on imports,” President Mahama stated.

The President added that these measures, supported by disciplined public spending and sound monetary policies, would help make the cedi more stable and better able to withstand external economic shocks.

He said the benefits of a stronger currency must go beyond economic indicators and be reflected in the daily lives of ordinary Ghanaians, including traders, manufacturers and households.

“For the trader, it should mean greater certainty when ordering their next consignment of supplies. For the manufacturer, it should give greater confidence when planning their production,” he said.

“For the family, it must give greater confidence that income and savings will meet their needs. The strength of our currency must be felt in the lives of our people,” he added.

President Mahama expressed confidence that the productive capacity of Ghanaians, supported by the New Economy Programme, would provide a stronger foundation for the cedi and help secure the country’s economic future.

He said the Heritage Series notes should therefore represent not only Ghana’s history but also the ambition to build a more resilient economy and a stronger currency.

ANAS/MA

THE OFFICIAL LAUNCH OF THE GHANA HERITAGE SERIES BANKNOTES