03
May
Market analysts at GCB Capital are expressing optimism about the cedi’s trajectory for the remainder of the year, foreseeing a stabilization by mid-2024. The Ghanaian currency has been on a rapid depreciation trend since February 2024, mainly due to sustained corporate forex demand pressures. Despite this, significant indicators suggest an improving macroeconomic landscape in Ghana. Projections indicate a slight uptick in GDP growth from 2.9% in 2023 to 3.3% by the end of 2024, with average inflation expected to drop from 38% in 2023 to 18% in 2024. To bolster the local currency, the Central Bank recently intervened by selling…