Mahama Fires Up CEOs to Slash Prices After Cedi Rally

Joyce Bawah Mogtari praised President Mahama for asking businesses to lower their prices. The senior presidential advisor loved hearing the president speak at the Ghana CEO Summit on Monday, May 26. Mahama told business leaders to help customers save money after the cedi became stronger. He thanked transport companies that had already cut fares for passengers across the country. The president wants other companies to follow his example.

Mahama promised that the government would keep spending under control to help businesses make profits. He assured company owners that fiscal discipline would continue during his administration. Business leaders heard the president commit to maintaining a stable economic environment. Mogtari wrote on social media that same day about the president's excellent message. She called his speech timely and said he gave clear direction to business owners.

The Ghana Private Road Transport Union reduced fares by 15 percent after the local currency gained value. Other transport operators also lowered their prices for customers throughout Ghana. The cedi has performed much better against major foreign currencies during recent months. Currency experts report that the local currency has gained over 20 percent against the US dollar since January. This improvement helps reduce costs for businesses that import goods from other countries.