The Ghana Cedi has seen a significant appreciation against the US Dollar, with some reports indicating a nearly 16% gain since the start of April 2025, and a year-to-date gain of 7.44% by April 2025.

 

Bloomberg has reportedly ranked the Ghana Cedi as the world’s best-performing currency. This positive momentum is attributed to a confluence of factors, including strategic policy interventions by the Bank of Ghana, a temporary suspension of external debt servicing, and robust performance in its key export sectors.

 

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Gold and cocoa, Ghana’s primary export commodities, have been instrumental in this economic uplift. In the first four months of 2025, Ghana’s total exports surged to $9.33 billion by April 2025. Gold exports alone reached an estimated $5.24 billion by April 2025, driven by a sharp increase in international gold prices, which climbed to around $3,400 per ounce by May 2025. The nation’s GoldBod, responsible for artisanal and small-scale mining (ASM) gold, reported exporting over 41.5 tons of ASM gold between February and May 2025, generating approximately $4 billion. This marks a historic shift, as ASM gold exports have, for the first time, surpassed those from large-scale industrial mines.

 

Cocoa exports also witnessed a significant boost, tripling to $1.8 billion in the first four months of 2025, a substantial increase from $579 million in the same period in 2024. This rebound is attributed to targeted efforts to boost production, support farmers, and combat illegal mining encroaching on cocoa lands.

 

The Ghana Cocoa Board (COCOBOD) projects a national output of 700,000 metric tons for the 2024/2025 crop season, a 32% increase from the previous season.
These impressive export earnings have significantly strengthened Ghana’s external position, contributing to a healthy trade surplus and an accumulation of gross international reserves, which reached approximately $10.7 billion by April 2025.

 

The Broader “African Dream”: Other Economies on the Rise

Ghana’s success is part of a larger narrative of growing economic dynamism across the African continent. While challenges remain, several African nations are demonstrating robust growth and diversification, contributing to the realization of the “African Dream.”

 

According to various economic projections for 2025, several African countries are poised for strong economic performance:

* South Sudan is projected to have the highest real GDP growth at 27.2%, driven by increased oil production and stabilization efforts.

* Libya is expected to see its economy grow by 13.7% in 2025, linked to improved oil exports and political developments.

* Senegal is projected to record a growth rate of 9.3%, fueled by investment in infrastructure and the burgeoning energy sector.

* Uganda is set to expand by 7.5%, driven by improvements in the services sector, infrastructure development, and agricultural productivity.

* Ethiopia is projected to grow by 6.5%, continuing to invest in infrastructure and industrialization.

* Democratic Republic of Congo (DRC), despite facing significant challenges, posted a robust 6.5% GDP growth in 2024.

* Côte d’Ivoire continues its consistent performance, with growth projected to accelerate to 6.3% in 2025.

* Tanzania and Kenya are also demonstrating resilience and projected growth, driven by various sectorial improvements and policy reforms.

 

These examples underscore a continent actively working towards economic stability, diversification, and sustainable growth. While resource exports continue to play a significant role for many, there’s a growing emphasis on industrialization, infrastructure development, and fostering environments conducive to both domestic and foreign investment.

 

Ghana’s current economic narrative, with its thriving Cedi and booming exports, serves as a powerful testament to the potential and resilience of African economies on the global stage.