Accra, 11 October 2025 — The Importers & Exporters Association of Ghana (IEAG) celebrates the first 10 months of the Mahama administration as a period of renewed hope for Ghana’s business community. In a public address on the Off the Lens program, IEAG’s Executive Secretary, Mr. Samson Asaki Awingobit, credited decisive policies and macro-economic interventions for turning the tide on Ghana’s economic challenges.
From Crisis to Correction
“In 2023–2024, Ghana went through one of its most difficult economic seasons,” Mr. Awingobit observed. “Inflation soared to 54%, the cedi dropped to ₵16 against the dollar, and many traders rerouted imports through ports in Togo and Côte d’Ivoire due to currency and tariff pressures.”
He praised the current government’s resolve, citing improvements in key indicators:
- Inflation, now reduced from ~23% to about 9.4%
- Cedi stability: from ₵13/US$ to ~₵12.07
- Policy alignment: synchronized actions between the Finance Ministry and Bank of Ghana
- Forex intervention: a US$1.15 billion injection into the market has bolstered reserves and liquidity for traders
“Such interventions have brought a level of sustainability to our currency and eased the pressure on businesses,” Mr. Awingobit said, attributing progress to coordinated public sector action.
What IEAG Calls for Next
While acknowledging gains so far, IEAG emphasizes that deeper transformation is still needed. Mr. Awingobit advocated for:
- Strengthened export financing mechanisms
- Expanded insurance support for importers
- Enhanced backing for SME trade ventures
- Continued fiscal discipline and prudent spending
“Do business under Mahama now compared to before, and the difference is real. Micro and macro indicators are trending positively. The trade community deserves commendation for patience, and we must sustain this momentum,” he stated.
About IEAG
The Importers & Exporters Association of Ghana champions the rights and interests of businesses engaged in international trade. By advocating policy reforms, providing support services, and fostering member networks, IEAG remains a voice for stability, growth, and trade justice in Ghana.
