The Deputy Finance Minister, Thomas Nyarko Ampem, has assured that the cedi will remain stable, describing the stability of the local currency as a major relief for households seeking to finance their homes.

His comments come as the cedi trades at about GH¢11.80 to the US dollar on the Bank of Ghana’s interbank market, based on the latest published rate.

Speaking at the National Conference on Housing and Finance, he said a stable cedi would help families manage their housing costs without having to worry about fluctuations in the exchange rate.

“Thankfully, under the competent leadership of His Excellency President Mahama and Dr. Cassiel Ato Forson, the cedi has been stable and it will continue to be stable. That is a big relief,” he said.

According to him, exchange rate stability is particularly important for households whose incomes are denominated in cedis, as currency fluctuations can affect their ability to meet financial obligations.

“A family should not need to forecast the exchange rate to know whether it can keep its home,” he added.

The Deputy Finance Minister also said the government would pursue measures to reduce the cost and risks associated with housing delivery.

He noted that access to finance alone would not be enough to address Ghana’s housing affordability challenges, stressing the need for clear land ownership, realistic construction costs, reliable demand and workable infrastructure plans.

He further identified predictable local approval processes and serviced land as important conditions for attracting investment into the housing sector.