Tuesday, 28th October, 2025
Hon Eric Afful
Amenfi West
Mr Speaker, let me thank you so much for the opportunity to read this Statement to commemorate the 60 years of our Ghana cedi since its introduction in Ghana.
Mr Speaker, the cedi continues to be durable, portable, divisible, uniform, limited in supply and generally accepted in Ghana. The cedi continues to function as a medium of exchange of goods and services, and also serves as a store of value, allowing people to save wealth over time. It also functions as a unit of accounts and values. This enables us to compare the worth of different items.
Mr Speaker, let me use this opportunity to commend the Government and the Governor of the Bank of Ghana and his team for their efforts to end dollarisation, that is, the practice of pricing goods and services in U.S. dollars instead of Ghana cedis in Ghana, which has a tendency to depreciate the Ghana cedi due to the increase in demand for the US dollar. To be specific, the Government has issued a directive requiring all Government contracts to be denominated in Ghana cedis rather than in hard currencies such as the U.S. dollar.
Moreover, the Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, strengthened these measures by mandating that all goods and services be priced solely in Ghana cedis. All these measures have contributed to making the cedi one of the strongest-performing currencies in the world, evidenced by its continuous appreciation from about GH₵17.00 to the US dollar in December 2024, to a current range of GH₵10.30 to GH₵12.00 to a dollar.
Mr Speaker, the Ghana cedi has undergone a remarkable transformation since the country gained independence, reflecting the nation’s political, economic, and social changes over time. Its evolution tells the story of Ghana’s journey towards economic sovereignty and stability in the face of both internal and global financial challenges. Before independence in 1957, the Gold Coast, now Ghana, used the British West African Pound, shilling, and penny, which were issued by the West African Currency Board (WACB). These colonial-era currencies served several West African territories under British rule.
However, after achieving independence, Ghana sought to establish its own monetary identity as part of its broader goal of national and economic independence. In 1958, Ghana introduced its first national currency, the Ghana Pound (£G), which was equivalent in value to the British pound sterling. The establishment of the Bank of Ghana (BoG) in 1957 played a vital role in managing this new currency. The introduction of the Ghana Pound symbolised the country's first step toward economic self-determination and control over its monetary policy.
A few years later, in 1965, the first Cedi (₵) was introduced by President Dr Kwame Nkrumah, replacing the Ghana Pound. This change marked Ghana’s move from the old imperial monetary system to a decimalised one, where one cedi was equal to ten shillings or one hundred pesewas. The term “cedi” originates from the local word “sedie”, meaning cowry shell, which had been used as a traditional form of money in pre-colonial times. The introduction of the cedi represented not only modernisation but also a reclaiming of Ghana’s cultural identity in its currency.
Mr Speaker, political changes soon influenced Ghana’s currency system. After the overthrow of Dr Kwame Nkrumah’s government in 1966, the new military regime replaced the existing cedi in 1967 with a new cedi, partly to remove symbols associated with the former president. The new currency had a conversion rate of 1 new cedi to 1.20 old cedis. While this change was politically motivated, it also demonstrated the close link between politics and monetary reforms in Ghana’s history. Throughout the 1970s and 1980s, Ghana’s economy experienced severe instabilities.
High inflation, frequent devaluations, and the emergence of black-market exchange rates eroded confidence in the cedi. During this period, the government implemented several exchange controls and economic reforms. The situation worsened until the Economic Recovery Programme (ERP) was launched in 1983 under the leadership of Ft Lt Jerry John Rawlings, which aimed to stabilise the economy and restore confidence in the financial system. By the early 2000s, the cedi had suffered significant depreciation due to persistent inflation, making financial transactions cumbersome. For instance, it took around GH₵10,000 to equal one US dollar.
To address this problem, the Bank of Ghana redenominated the cedi in July 2007, introducing a new currency known as the Ghana Cedi (GH₵). The conversion rate was 10,000 old cedis to one new cedi (GH₵ 1 = GH₵10,000). This redenomination simplified transactions, improved efficiency in accounting and pricing, and sought to restore public confidence in the currency.
Mr Speaker, in recent years, the cedi has continued to evolve alongside Ghana’s modern financial landscape. The Bank of Ghana introduced enhanced security features and new high-value denominations (GH₵100 and GH₵200 notes) in 2019, to facilitate larger transactions. Meanwhile, the growth of digital payment systems, including mobile money, has significantly transformed how Ghanaians interact with their currency.
Despite these advancements, the cedi continues to face challenges such as depreciation against major foreign currencies, inflationary pressures, and global economic shocks. Let all Ghanaians work towards the Ghana cedi becoming an enviable currency in the world as the journey has started from the beginning of 2025 fiscal year as the cedi is trading with other hard currencies positively. This is a good sign of a strong currency in a strong economy. In conclusion, the history of the Ghana cedi is deeply intertwined with the nation’s political and economic journey.
From the colonial-era British pound to the modern Ghana cedi, each transformation has reflected Ghana’s desire for stability, identity, and growth. While the cedi has faced many challenges over the decades, it remains a powerful symbol of Ghana’s resilience and commitment to economic independence.
Thank you, Mr Speaker for the opportunity.
Hon Tweneboa Kodua Fokuo
Manso Nkwanta
Thank you, Mr Speaker. Firstly, I commend the maker of the Statement who happens to be the Chairman of the Committee on Economy and Development where I serve as the Deputy Ranking Member.
Mr Speaker, we congratulate ourselves as a country for having our currency for six decades. Having our own currency gives us economic independence having moved away from the British pound following independence. Having our currency, the cedi, has also given us the freedom to be able to set our own monetary policy which controls inflation, interest rates, et cetera, without relying on any foreign sovereign to do these for us. Having our own currency, the cedi, for sixty years has also given us the flexibility in terms of trade, taxation and budgeting. We control our currency. There is also the integration into the global financial system. We have our currency which the world has recognised. The world trades with it. It is accepted across the world. This is a source of pride to us as a nation, and it is including us in the world platform for trading.
Mr Speaker, the cedi has shown resilience. As the maker of the Statement indicated, we have seen the notes being replaced and coins being replaced. We have seen the cedi being redenominated to make it easier to carry and transact, et cetera. The cedi has seen calm, the cedi has seen turbulence, but the cedi continues to thrive and it is our source of pride.
Mr Speaker, with these few words, I will commend the maker of the Statement and I say, long live the cedi and happy 60th anniversary. I thank you very much.
Hon Haruna Iddrisu
Tamale South
Mr Speaker, let me thank you for the opportunity to contribute to the Statement made by Hon Afful in joining the country to celebrate 60 years of the cedi.
Mr Speaker, the Governor of the Bank of Ghana, at the ceremony today, under the theme, “60 years of the cedi, a symbol of sovereignty, stability and economic resilience” brought an important matter to the fore and I commend him. The Bank of Ghana as the bankers’ bank and the lender of last resort is responsible for maintaining and monitoring financial stability and price stability. First, this is Parliament; what is the relationship between Parliament and the Bank of Ghana?
Mr Speaker, we are yearning for an independent, autonomous Bank of Ghana where monetary policy is the determination of the Bank of Ghana and fiscal policy will rest in the Minister for Finance. But Mr Speaker, in the relationship, sometimes monetary policy suffers when we do not manage our fiscal policy well. But as the maker of the Statement rightly observed, echoed by the Governor himself and our Hon Colleague who just spoke, the cedi today is celebrated as one of the best-performing currencies in subSaharan Africa in, at least, the last eight months.
The cedi has appreciated, Mr Speaker, according to the Governor of the Bank of Ghana, by 37.4 per cent year-on-to-date, 17th October, 2025. Again, we are told that headline inflation has dropped sharply to 9.4 per cent as of September, 2025. Then, Mr Speaker, our observation. In 2022, the cedi depreciated by over 50 per cent, becoming the world’s worstperforming currency according to Bloomberg, and then headline inflation spiralled to 54.4 per cent. Food inflation soared to 59.7 per cent. But, Mr Speaker, this is the difficulty to manage.
So, one of the fundamental problems of the John Mahama Administration is that we inherited an economy which was damaged in terms of the standing of debt. That is why we had to undergo a debt exchange programme. Apart from that, inflation was unacceptably high. But for me, Mr Speaker, as he makes that Statement, this Parliament must support the Bank of Ghana in its regulatory role. That is why they are accountable to the Parliament of Ghana.
Indeed, Mr Speaker, they are expected even to give us a quarterly report. The Bank of Ghana has a responsibility to report to the Parliament of Ghana on its operations over the years. Mr Speaker, we should also celebrate the Bank of Ghana. If for nothing, Mr Speaker, last week I was in Sunyani at the University of Energy and Natural Resources (UENR) and the ViceChancellor came to me and said that the hall I was sitting in was constructed by the Bank of Ghana as part of its corporate social responsibility. I am told that if one goes to the University of Ghana and looks at the Cedi Hall, thanks to the late His Excellency Kwesi Amissah-Arthur, when he was Governor of Bank of Ghana, we have a beautiful edifice of a lecture hall which was also constructed by the Bank of Ghana.
Mr Speaker, today the Bank of Ghana has a hospital which is open to the Ghanaian public. But we want them to concentrate on their core responsibility as the bankers’ bank and the regulator of the bank. We saw how Government had to spend, in the past, over GH₵23 billion on what is popularly referred to in Ghana as the “collapsed Bank”, or what is the name they call it? So, we pay tribute in celebrating the Governor of the Bank of Ghana, Dr Johnson Asiamah and his deputies, Dr Zakari Mumuni and Mrs Matilda Asante-Asiedu. We wish them well, but they should also recognise that others came before them and they played their part, whether it was Governor Ernest Addison or it was Governor Paul Amoafo Acquah, they all did their best. But we think that we should reposition the Bank of Ghana to take its place in modern central banking. What is the interest and policy rate? How is it determined in Ghana? How is that affecting the Ghanaian private sector and how are they able to make meaningful contribution to it?
Mr Speaker, President Mahama made a promise to the Ghanaian people to establish a women’s bank. Let me assure our Hon Colleagues that he would honour that promise — [Hear! Hear!] — and a women’s bank will be established as part of President Mahama’s effort to empower women and to expand access to credit by them. But, Mr Speaker, my advice is to all of us and to Ghanaians on the way we handle the Ghanaian cedi in our pockets. We love it but the way we treat it in our pockets, we do not do the same thing to the British pound or the dollar. When we get the cedi, we squeeze it as if it is some valueless paper, yet it is the paper that we expect to use for the purchase of our goods and services. So, the Bank of Ghana must also deepen public education on the way we relate to the Ghanaian cedi.
Mr Speaker, we have every reason to celebrate the cedi at 60, but in celebrating it, I observe, the cedi suffered too much epilepsy in the face of the pound sterling and dollar, which reduced the value and the worth of the cedi — I do not provoke debate, Mr Speaker. So, I want to commend the maker of the Statement, congratulate and commend the leadership of the Bank of Ghana, past governors of the Bank of Ghana, past chairs of the Bank of Ghana, and then to Parliament.
Mr Speaker, there is no day I will comment on Bank of Ghana without recognising the late Anthony Akoto Osei, of blessed memory, when we had to review the Bank of Ghana Act, 2002 (Act 612) as to whether the Bank of Ghana can finance Government or not. Part of the crisis we are in as a country, what we witnessed in 2022, was the Bank of Ghana financing Government. That is what resulted in now, the debt exchange and the slippage of the economy.
The late Hon Anthony Akoto Osei sat here every other time to caution the Bank of Ghana, and he was a strong advocate of zero financing of Government by the Bank of Ghana. I pray that we will keep faith to it. Now, gold reserves, Mr Speaker. Gold reserves are everywhere in the world. We should learn from best practice and allow for efficiency in improving the standing of our gold reserves.
So, I commend Hon Afful and I thank him for the Statement. Mr Speaker, thank you for tolerating
Hon Abdul Kabiru Tiah Mahama
Walewale
Mr Speaker, thank you very much. Let me join my Hon Colleagues in commending Hon Eric Afful for making this Statement on the 60th Anniversary of the Ghanaian cedi.
Mr Speaker, I do not need to go back to the history of the Ghanaian cedi, as there are many grey-hairs here who understand this better than I do, and the maker of the Statement also attempts to capture that particular history. Mr Speaker, the fact is that after 60 years, the Ghanaian cedi has not found its feet. I would think that in this moment of reflection, we need to ask ourselves why after 60 years our cedi is still trying to find its feet against the major trading currency. We understand our currency is not a vehicle currency, but we do also appreciate that for an economy to be very strong, we need to have our cedi, medium of exchange or currency to be very stable for predictability of business. We need to have it very stable for the health of the economy and even for the purchasing power of the ordinary person. So, we all agree and admit that we must do something strong about the performance of our cedi.
Mr Speaker, as we celebrate 60 years, we have to pay some glowing tribute to other individuals. He mentioned some names, and I think it is important that we cannot celebrate 60 years of independence and the history of the currency is being talked about without reference to Dr Mahamudu Bawumia. When H.E. Dr Mahamudu Bawumia was at the Bank of Ghana, he was the arrowhead of the re-denomination exercise that brought some stability to the Ghanaian cedi. This is a statement of fact, and we need to pay a glowing tribute to him.
Mr Speaker, my senior Brother, the respected former Leader of the House and Minister for Education drew our attention to the need for us to support our currency with commodities such as gold, and that the African Development Bank (ADB) and international communities are now coming to the realisation that we need to support our currency with a very predictable commodity such as gold. When the former Vice President came up with this idea, people said it was not novel; people were mocking at him.
Mr Speaker, the chicken has come home to roost. I am happy that the Governor of the Bank of Ghana can now go on international platforms to count the success of the country on the back of gold reserve programme and gold purchase programme. I am happy that we are building a country and the contribution of Dr Mahamudu Bawumia needs to be highlighted. Mr Speaker, what can we do? Currently, the performance of the cedi is because it is being given an aphrodisiac, and if the cedi is performing because it is given an aphrodisiac, you do not call that natural performance.
Mr Speaker, we need our cedi to perform naturally. How do we do that? We need to improve on the real sector of the economy. That is the only way. Otherwise, all the performance we are seeing about the cedi is not based on productivity. We are learning that, this month alone, the Bank of Ghana is pumping over 1.3 billion to support the cedi. This is not economic management; this is intensive care management of the cedi, and I do not think that that is the way we need to go with the management of the cedi.
Mr Speaker, as we celebrate 60 years, we want to also advise that there is the need for us to streamline the blackmarket rates with the formal rates. I do not understand why abokyi will be charging us GH₵13.00 to the dollar, and the Bank of Ghana is quoting GH₵11.00 to the dollar. It does not make sense. There must be some symmetry. There must be some consistency. The differences should not be that—
Mr Speaker, I will conclude on this note. The maker of the Statement is referring to some exchange rate that was GH₵17.00 to the dollar. I will come on the ruling of this particular House. The House has ruled on January 26, 2017, and it is based on evidence to support a statement of fact. The issue at the time was whether or not a Member can continue to speak when challenged on a statement of fact. Mr Speaker, there is a statement of fact that has been mentioned that the cedi was changing to the dollar for GH₵17.00. I think based on the ruling of this House, we have to expunge that from the Statement. Because the ruling of this House is clear on such matter that where a Member of this House is challenged on a purported statement of fact, the Member must support the statement with evidence or withdraw the unsubstantiated statement.
Mr Speaker, this was the ruling of the House on the 26th January, 2017. So, I want to— Mr Speaker, I want to urge my Colleague that this part of the Statement should be expunged from the record, or he provides the evidence to substantiate that. Since he has not provided evidence on the Statement, prima facie, that Statement should not be part of the records of this House.
With these few words, Mr Speaker, I thank you very much.
Hon Rita Naa Odoley Sowah
Dadekotopon
Thank you, Mr Speaker, for the opportunity. I want to start by congratulating the whole of Ghana for the celebration of the Cedi at 60. The cedi which came into being in 1965 is 60 years now and it is going to be a year-long celebration. Believe you me, it has gone through various reforms and we are still using the cedi.
As we speak now, in the tenure of His Excellency John Dramani Mahama, we all see how the cedi is performing against the dollar. We recall in 2024 where the cedi was performing very badly against the dollar. So, you will see clearly that this is an administration that wants Ghanaians to see the value of the cedi as we celebrate the Cedi at 60.
Mr Speaker, I would want to join the Bank of Ghana, the Governor and his team for this yearlong celebration and I believe that the cedi would perform better even as the days and years roll by. Congratulations to Ghana, congratulations to all of us.
Hon Kojo Oppong Nkrumah
Ofoase Ayirebi
Mr Speaker, thank you for the opportunity to contribute to this Statement. I want to commend the Chairman of the Committee on Economy and Development for this commemorative Statement.
Mr Speaker, as we celebrate 60 years of the Ghana cedi, to many Ghanaians, the most important question is what is the value of the cedi? What can it really buy? That brings to mind two specific questions; the question of inflation targeting and inflation management, and exchange rate.
Mr Speaker, if you study the economic history of our country, our cedi performs very well at some point in time and also very poorly at some point in time. Whenever a government has access to large volumes of forex reserves to do what they call market intervention, the cedi is able to stand its ground against international currencies. Whenever we run short of hard currency, the depreciation gets very dire.
Today, I am happy to reiterate the comments made by the Minister for Education that the Governor announces about a 37.4 per cent appreciation of the cedi year to date. The question is how? I think the Government has answered it already by explaining that it is because they are doing market intervention. In fact, this month alone, as was mentioned by one of my Colleagues, the Bank of Ghana is dumping about 1.3 billion dollars onto the market. That is a reason for the appreciation. So, where are they getting these dollars from?
Mr Speaker, it is because in 2021 a gold purchase programme was introduced for the first time in our history, aimed at enabling the state to, through the Bank of Ghana and the Precious Minerals Marketing Company (PMMC), buy gold and increase our gold reserves. That is how we can move from 8 tonnes to 30 tonnes. Mr Speaker, at that time, gold prices were averaging about US$1,700 per ounce. Today, gold prices are averaging about US$4,000 per ounce. So, because of this gold purchase programme, we are able to mobilise a lot of forex and the central bank is now doing a lot of market intervention with the forex. Has anything strange happened? No. It is because of the conditions of the market and the introduction of the gold purchase programme that today we are able to mobilise a lot of forex through the Bank of Ghana and the GoldBod, which used to be the PMMC, and this forex is now being dumped on the market.
So Mr Speaker, it begs the question that if you leave the market to the normal forces of demand and supply for currency without a market intervention, would we be getting a 37.4 per cent appreciation? Respectfully, I doubt. That then raises the second question of what framework is being used today that we are getting windfall? Are we dumping all the windfall on the market to suppress the real rate? It would be recalled that earlier when the Governor and the President denied it and the International Monetary Fund (IMF) cautioned the government to pause and put in place a framework and they did, the currency started depreciating again. And indeed, the President at the press conference admitted that it was because the Bank of Ghana had stopped the market intervention.
So, Mr Speaker, we do not need to split heads about it. Today, as we commemorate 60 years of the cedi, we need to be honest with ourselves that, it is the market intervention and any government that is able to benefit from these prices on the market and has these reserves, will intervene. It is like somebody with a blood pressure (BP) problem who is taking blood pressure medication to bring his BP down, now claiming all of a sudden that his BP is sorted. The day the person stops taking the medication, that is when the person will see their smoothness level.
Mr Speaker, what we need to do is to have a discussion about the sustainability. How are we going to ensure that on a sustainable basis? We can allow the market forces to hold our currency where it has to be without the aphrodisiac and the blood pressure medication that my Colleagues and I talked about. That requires the Bank of Ghana to do a lot more of the traditional things, ensuring that forex earnings are repatriated into the jurisdiction, ensuring that the banks do not hold the forex earnings in their nostro accounts, ensuring that the de-dollarisation, as the Chairman mentioned, really comes to bear. These things are not being done. It is the market intervention. So, today, as we commemorate and celebrate, my prayer is that we pay more attention to the sustainable things.
The last thing, Mr Speaker, is that a proper framework needs to be put in place. Is it 10, 15, 20 or 100 per cent of the windfall that we are dumping on the market? And if we dump all of it, what will happen when it is finished? We commend the various actors from 1965 who have worked to bring the Ghana cedi to where it is and we pray the current administration to put in place a sustainable framework so that when gold prices are no longer at US$4,000 on the world market, we do not see a further depreciation of the Ghana cedi.
Mr Speaker, I thank for the opportunity.
Hon Shaibu Mahama
Daboya/Mankarigu
Mr Speaker, let me thank you very much for the opportunity and to thank the maker of the Statement for teasing out a very critical issue regarding our economy and our cedi.
Mr Speaker, 60 years in the life of a living being, and indeed a cedi, is so important that we need to celebrate it. Indeed, the Ghana cedi has travelled so many years. It has transitioned from one point to the other and today, we have a Ghana cedi that is stabilised.
Mr Speaker, my good Friend made mention of aphrodisiacs. Let me be clear to point out that there are good aphrodisiacs and bad ones and depending on the time that one injects the aphrodisiac, one will get a result that one wants. Indeed, some years ago, some of the aphrodisiacs were pumped into the system and we got GH₵17 to US$1. Indeed, today, a better aphrodisiac is pumped into the system and we are hitting between GH₵10 to GH₵12 to US$1. This is proper and prudent management.
My learned Friend, Hon Kojo Oppong Nkrumah, mentioned good management. Indeed, policies were put in place and at the time those policies were put in place, we still had the cedi falling to GH₵17. Today, we have put in a very prudent measure. We have established the Gold Board. The 1.3 billion that was pumped into the system was not borrowed externally but was mobilised locally. Indeed, from January to October 15, the Gold Board alone has raked in over US$8 billion and that is sitting in the coffers of the Bank of Ghana.
Mr Speaker, today the cedi shines very brightly and the clients I represent tell me to take their rent in Ghana cedi. They ask me not go for any dollar for them, even though it is said the dollar denominates. People now prefer to use the Ghana cedi because of the value it presents. That is the cedi we are talking about today and that is a cedi we are celebrating. So, the prudent economic measures that have been put in place is the reason we are all smiling today. And then take note that the Ghana cedi will continue on an upward surge. And this economy and the Bank of Ghana is up to recovering. Please let us wish it very well. We wish the Ghana cedi a happy birthday and we pray that we all hold it and keep it well. I thank you so much, Mr Speaker.
Hon Jerry Ahmed Shaib
Weija-Gbawe
Mr Speaker, thank you very much for this opportunity and I want to commend the maker of this Statement, save that, when we get an opportunity to make such Statements, we should try and de-politicise the content of the Statements and see the contributions and evolution the cedi has gone through to this stage. It is very critical that as Ghanaians, we all come together to celebrate the cedi at 60. This is not just by chance; it is by hard work and the very critical support of many stakeholders.
Mr Speaker, I always take a cue from my former Leader and Minister of Education and therefore, I want to look at it from the angle of not just the evolution of the cedi, but the use of the cedi. For someone to have a Statement of this nature and even talk about a cedi as being GH₵17 as at 2023 and 2024 is not factual. We cannot be in the House of facts and records and state misfacts.
It is unfortunate for anybody to indicate that, especially when there is no evidence to that effect. The cedi has never gone to GH₵17. We have done propaganda with the cedi. We have done propaganda at all times material. When the cedi was even GH₵14, we were pushing it to GH₵17. Like we are talking today, the cedi is on an aphrodisiac.
My Ranking Member on the Committee on Assurances can tell you the kind of aphrodisiac the cedi is on and the Hon Member should also be mindful that not all aphrodisiacs are effective. Some aphrodisiacs can actually dismember someone. It can give a heart attack. When they even put oxygen on the person, it will not survive. One of the aphrodisiacs is propaganda. The other aphrodisiac is non-payment of contractors. Pay contractors and let us see that the cedi is standing on its knees. All we come and do here is the usual propaganda. The cedi is 60 and the Government has been able to—
Are we not Ghanaians? If the cedi is stable and solid, it is to the benefit of all the Ghanaian people, including us. When we do not know how Gold Board is funded, and we do not know what is happening to it, they do not want us to know how the cedi is performing. Let us know? When there is constant interference from the Bank of Ghana, no, let us talk about the realities on the ground. People have done well, let us commend them.
I want to look at it from the angle that whoever has contributed to the proper evolution of the cedi must be commended and celebrated. I think we have a list of names. Yes, President Mahama is one of them. Anybody who has been a president since the inception of the cedi should be commended. Nana Addo Dankwa Akufo-Addo who has been the President of the Republic of Ghana for eight years is a major contributor of the stability of the cedi. And when we are talking, the Hon Member for Odododiodio is saying that H.E Akufo-Addo has not done anything. I need the Hon Member to understand that President Kufuor, Dr Mahamudu Bawumia, all the Governors, Deputy Governors—
Mr Speaker, I travelled to Barbados recently and I had to use cash. I have always held on to cash because I believe that sometimes these systems can break down. I was just telling my boss that I used American Airlines and to just pay for an extra bag, I was asked to use a card. Mr Speaker, I do not have a card, I still do not. I had to look for someone in the queue who could be of help. So, somebody paid and I gave the person cash. All of this has been part of the evolution of the cedi. It does not have to always be cash; it can be through card. We started the digitalisation of the cedi, Mr Speaker. And today, you know what is happening to the Lightwave Health Management System (LHIMS)? The LHIMS is not working because we are back to cash.
Mr Speaker, the fact that we are back to cash alone tells you that we have done well as a nation but we are departing. For the fact that people go to the hospitals and they cannot access information, just because of the cashless system— Mr Speaker, it is very critical to cherish the capacities of the people who have channeled the cash into a cashless system, and we want to commend the Bank of Ghana for doing the needful and for celebrating the 60 years. We are hoping that all Members of Parliament would actually have benefited from maybe a memory form of cash from the Bank of Ghana. So that when we go home, we can also show that we were part of the 60th anniversary celebration of the cedi.
Thank you very much, Mr Speaker.
Hon Comfort Doyoe Cudjoe
Ada
Thank you, Mr Speaker, for the opportunity to add my voice to the Statement made by my Colleague, Mr Eric Afful.
Mr Speaker, the cedi is 60 years old and we appreciate where it is coming from and where it has reached now. How do we see our cedi? Let us all look at how we see the cedi. The cedi should be respected when it gets into our hand. We must see it as something that is valuable. We should not be squeezing it. When we get a dollar bill, we quickly look for a wallet to keep the bill to preserve it. But when we get cedi, then you see people looking for cloth to tie it in as if the cedi is nothing to write home about.
Mr Speaker, let us give the respect we give to the dollar to the cedi. How we see our cedi is how anybody else too sees it. When the cedi is dirty, the Bank of Ghana should please change it. Let us have clean money so that anywhere anybody sees our cedi, the person will give the cedi the respect that it deserves. Currently, the cedi is doing well. The whole world is commending Ghana because the cedi is doing well.
Mr Speaker, we have the men and the men are working on the cedi and it is really performing. If your mother is dead and you say your mother is sleeping, when mothers are feeding their children in the evening, nobody will come out to feed you. Mr Speaker, so if the dollar appreciated against the cedi so that we had a dollar to GH₵17, and they said it is not true, Ghanaians will judge. Now the cedi is doing well against the dollar globally. So, we should applaud the Government in power for holding the cedi strong for all of us.
Mr Speaker, respect for the cedi is what I am calling for. Let us go to the marketplaces and educate the market women on how to handle the cedi. How you sell yourself is how people will buy you. How do we see the cedi? Recently when we went to the IPU, I did not see myself as an elderly person. I saw myself as a young person and I fought for a position and won. So let us see the cedi as valuable, and the cedi will be respected globally as it is being recognised now.
So, Mr Speaker, I congratulate the Governor and all the past Governors from 1965 to now. Everybody has done their part and we will continue to do ours to preserve the cedi for the next generation.
Thank you, Mr Speaker.
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