Did the Cedi trade at 10 cedis in April? NO!
On September 5, 2025, the Minister for Communications, Digital Technology, and Innovations, Samuel Nartey George, at a press briefing claimed that the cedi traded at GH¢10 to one United States dollar in April 2025. These are his specific words:
“In April this year, the exchange rate was 10 (cedis). MultiChoice increased (their rates) by 15%, so if they claim that a depreciation of the cedi is the basis for the increases that they were doing, in April this year, when the cedi was trading at 10, they increased by 15%.”
You can watch the press briefing here: VIDEO
Factcenta has verified the merits of this claim and presents the facts below.
Claim: The exchange rate was 10 cedis in April this year (2025)
Verdict: False
Explanation
To verify if the cedi truly traded at 10 cedis in April 2025, we simply analyzed the daily Bank of Ghana (BoG) Interbank Foreign Exchange rates. In April 30, 2025, the cedi traded at 14.1429. From April 2 to April 23 (2025), the rate was between 15.3423 to15.5222.
At no point in April 2025 did the cedi trade at 10 cedis per the official figures from the Bank of Ghana. The statement from the minister is therefore false.
