President John Dramani Mahama has praised Ghanaian businesses for promptly responding to the recent strengthening of the cedi by reducing the prices of goods and services.

Speaking at the Ghana CEO Summit held at the Kempinski Hotel in Accra, he described the move as a welcome development that eases the financial burden on ordinary Ghanaians.

“Let me take this opportunity to commend those of you who have responded to the cedi’s appreciation by lowering the prices of your products and services,” he said.

“By doing so, you are passing on some of the relief from economic hardship to Ghanaians. Thank you very much, GPRTU,” he added.

He also encouraged other businesses that have yet to adjust their prices to follow suit, emphasising that the benefits of a stronger cedi should be felt by the wider public.

“To those of you who have not yet responded, I urge you to pass on some of the gains from the cedi’s appreciation to Ghanaians,” he pleaded.