The Ghana Union of Traders Association presented Dr Johnson Pandit Asiama with a Policy Impact Award at its executive inauguration in Accra on 11 April, citing his role in bringing inflation under control and stabilising the cedi.
The recognition tracks the data. The cedi appreciated over 40 percent against the dollar in 2025, making it Africa's best-performing currency. It rebounded from approximately GH¢15.56 per dollar in early April 2025 to around GH¢10.28 by June. It has traded in the GH¢10.45 to GH¢11.03 range so far in 2026.
Inflation fell from 23.5 percent in January 2025 to 3.2 percent in March 2026, fifteen consecutive months of decline. Food inflation sits at 2.3 percent. Imported goods are in deflation.
The Bank of Ghana cut the policy rate from 29 percent to 14 percent over the same period, 1,500 basis points of total easing. The most recent cut, 150 basis points in March, passed the MPC on a 5-to-1 vote, with one member preferring to hold at 15.5 percent over global risk concerns.
GUTA's membership imports goods for resale. Exchange rate volatility and price instability directly affect their margins. The award reflects that the traders who absorb currency risk most directly are seeing the stabilisation in their costs.
Asiama took office on 3 February 2025 after being nominated by President Mahama. He succeeded Dr Ernest Addison. The Bank of Ghana has designated 2026 as the year of consolidation and discipline.
