African News Business and Economy

BoG to Crack Down on Dollar Use

By Ajuma N / July 16, 2025

The Bank of Ghana will take tough steps to stop the widespread use of dollars in local transactions. Governor Dr. Johnson Asiama said pricing in foreign currency, especially in key sectors, will be tackled by enforcing legal tender laws. He urged Ghanaians to use the cedi like in countries such as Kenya and South Africa.

Speaking at a business meeting in Accra, he also encouraged exporters to reinvest earnings in Ghana. Firms that deal in cedis or manage forex risks well will receive special support. Dr. Asiama said these steps will help strengthen the cedi and the wider economy. He called on businesses to work with the Bank of Ghana to build a stable future. Resilience, not just numbers, must guide Ghana’s forex policy, he added.

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