Car dealers and homeowners now pricing in cedis Mahama says this is a good sign

President John Dramani Mahama has praised a growing trend in Ghana’s real estate and automobile markets: car dealers and homeowners increasingly quoting prices in cedis rather than foreign currencies. For him, this shift signals renewed confidence in the national currency and represents a meaningful step toward economic stabilization and monetary sovereignty.

Speaking at a recent business forum, Mahama pointed out that pricing transactions in cedis is more than just symbolism it indicates trust in the country’s currency and macroeconomic trajectory. He noted that when sellers begin quoting prices in cedis, it reduces dollar dependence and helps anchor the value of the Ghanaian currency in everyday commerce.

Car dealers have reportedly started presenting vehicle costs in cedis, adjusting to a local currency appreciation and reclaiming control over their pricing strategies. According to industry insiders, this move reflects optimism that the cedi’s gains could reduce import costs for future shipments. As the cedi strengthens, it could ease pressure on profit margins previously squeezed by dollar based business models.

Real estate markets are following suit. Homeowners and property developers who traditionally priced properties in dollars or other stable currencies are increasingly listing in cedis. Observers believe that this change may boost local demand by making homes more affordable in local currency terms, while also demonstrating sellers’ belief in the cedi’s appreciation.

Economists argue that these developments could help reduce currency risk for everyday Ghanaians. When transactions are denominated in cedis, both buyers and sellers are less exposed to foreign exchange shocks. It can create more stable pricing environments and encourage more local trades without the fear of dollar volatility.

However, the shift is not without challenges. Some critics caution that while quoting in cedis may be positive, it must be backed by real economic fundamentals. They argue for stricter regulation, transparent car import duties, and reforms to reduce the cost burden on businesses that import vehicles. Car dealers have long pleaded with the government to review port duties, import valuation systems, and provide clearer guidelines that support cedi based pricing.

Mahama acknowledged these concerns and promised that his administration is working closely with stakeholders in both the automotive and real estate sectors. He called for a coordinated effort where currency gains are reinforced by fiscal discipline, supportive policies, and economic reforms geared toward long term sustainability.

Supporters of the president’s view argue that the trend could help stimulate domestic business growth. Small and medium sized car dealers and property developers who convert to cedi pricing may attract more buyers who were previously priced out of the market due to foreign currency listing. This could drive more inclusive economic participation and expand wealth creation among Ghanaians.

For Matilda, a prospective homeowner, the shift has been meaningful. She recently visited a developer whose houses were quoted in cedis for the first time. “It feels less risky to me,” she said. “I don’t have to worry about currency spikes. If I want to buy, I know what I will pay.”

Mahama’s message was clear: Ghana’s economic future lies in strengthening its own currency and building a system where local trade is not overly dependent on foreign exchange. As more dealers and homeowners price in cedis, the move could mark a turning point a shift from dollar dependence toward a more resilient and locally grounded economy.