Financial analyst Dr Richmond Atuahene has warned that the strengthening of the Ghana cedi may be affecting the country’s export sector, arguing that current trends favour imports over local production.

Speaking on the Citi Breakfast Show on Thursday, April 16, 2026, he said a stable or stronger currency can reduce incentives for exporters.

“Anytime the cedi stabilises, the export sector suffers. The reason is that if the cedi is GH¢10 to $1 and I export and I come back with the same GH¢10, then what is the aim of exporting rather than importing,” he said.

He noted that recent economic improvements, including increased reserves, could reinforce reliance on imports if not matched with policies to support exports.

“When we say the cedi has stabilised and we have reserves, all these things are made to support the import mentality that we have. We need to change that mentality,” he said.

Dr Atuahene called for a shift towards an export-led approach, stressing the need to prioritise local production to ease inflation and strengthen the economy.

“We need to see that if we use an export methodology instead of an import methodology, people will not be dwelling too much on inflation. We import literally everything, even things we can grow here,” he said.

He also cited rising remittances as an opportunity to expand exports rather than increase imports.

“The president himself mentioned that remittances have risen significantly. But instead of expanding the base of exports, we are expanding the base of imports. So importers are happy, and are winning, at the detriment of exporters,” he added.

He called for policy reforms to support exporters and reduce dependence on imports, warning that without structural changes, economic gains may not lead to long-term stability.