Ghana’s cedi ranked worst-performing currency in Sub-Saharan Africa

• Ghana’s cedi is now the worst-performing currency in sub-Saharan Africa in 2026.

• The cedi weakened from GH¢11.36 to GH¢11.61 against the US dollar last week.

• High demand for dollars, especially in the energy sector, is putting pressure on the currency.

Ghana’s cedi has continued to lose value in recent weeks, making it one of the weakest-performing currencies in Africa and the worst in sub-Saharan Africa so far this year.

Reports by international news agency Reuters, using figures from the London Stock Exchange Group (LSEG), show that the cedi has been falling steadily since the beginning of 2026.

As of last week, the currency had dropped by 10.28% against the US dollar this year.

At the time, the cedi was trading at GH¢11.36 to one US dollar. Reuters warned that the currency could weaken further, pointing to growing demand for foreign currency by businesses, especially companies in the energy sector that rely heavily on dollars for imports and payments.

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That prediction appears to be coming true. By the close of trading last week, the cedi had weakened further to GH¢11.61 to the dollar, keeping Ghana among the countries with the poorest-performing currencies in West Africa this year.

For many Ghanaians, the falling cedi is already being felt in daily life. A weaker currency often leads to higher prices for imported goods, fuel, transport, and food, putting more pressure on households and businesses.

The cedi is one of nine currencies used in West Africa. Others include the CFA franc, which is shared by eight countries in the region.