The Ghana cedi has been ranked as Africa’s best-performing currency in 2025, according to data from the International Monetary Fund (IMF) covering more than 20 major economies across the continent.
Analysis of the IMF data, sighted by Joy Business, shows that the cedi appreciated by over 40 per cent against the US dollar during the year, outperforming all other African currencies included in the assessment.
This contrasts with earlier rankings by some international news agencies and global financial institutions, which had placed the cedi as the fourth-best-performing currency in Africa. However, the IMF’s full-year review indicates that Ghana’s currency ultimately emerged as the continent’s top performer in terms of dollar appreciation.
Analysts have attributed the cedi’s strong showing to a combination of policy interventions by the Bank of Ghana and structural reforms under the IMF-supported economic programme.
By the close of 2025, Ghana’s international reserves had risen to nearly US$14 billion, providing a strong buffer and reinforcing currency stability.
Sources further suggest that the central bank is considering additional policy measures in 2026 to sustain and strengthen the gains made in stabilising the cedi.
