MP Collins Adomako-Mensah Urges Broader Enforcement of Cedi-Only Policy to Strengthen Local Currency
Accra, July 28, 2025 — The Member of Parliament for Afigya Kwabre North, Collins Adomako-Mensah, has thrown his weight behind the government’s new directive mandating cedi-only payments for government contractors, and is now calling for its extension to other sectors of the economy.
Speaking on Channel One TV’s Breakfast Daily on Monday, the MP welcomed the initiative, which was announced by Finance Minister Dr. Cassiel Ato Forson during the 2025 Mid-Year Budget Review presentation in Parliament. The policy restricts the use of foreign currency, particularly the U.S. dollar, in public contracts to help curb dollarisation and promote greater reliance on the Ghanaian cedi.
“I don’t have any problem with that. Some transactions can be in dollars, but once you are giving a contract to a Ghanaian contractor, it should be in cedis. Most of the governments have fallen short of that, so I am happy they have decided to pay contractors in cedis,” Adomako-Mensah said.
The MP stressed that broadening the scope of the policy could yield even greater economic benefits, particularly in stabilising the exchange rate and reinforcing public confidence in the cedi.
“A lot of the things should be quoted in the Ghana cedi just to help strengthen our currency. I think the government should even go further. Maybe the directive should permeate a lot more sectors within the economy,” he added.
The Finance Ministry’s move is part of a larger fiscal strategy aimed at addressing currency volatility, improving monetary sovereignty, and reducing the country’s dependence on foreign exchange for domestic economic transactions.
Economic analysts say that the success of the cedi-only policy will depend on strict enforcement, collaboration with private sector actors, and tackling the underlying causes of dollar preference in sectors like real estate, hospitality, and high-value imports.
The Finance Minister in his presentation reaffirmed the government’s commitment to a stable currency regime and emphasized that building a resilient economy would require a collective shift in attitudes toward the use of the cedi.
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