In a time of global currency volatility and economic uncertainty, a quiet revolution is unfolding in West Africa: the Ghanaian cedi (GHS) is currently the best-performing currency in the world. Since the start of 2025, it has appreciated by a remarkable +42.57% against the US dollar (USD) outperforming all major and emerging currencies.
This rare monetary achievement deserves attention, especially when compared to the CFA franc, used by 14 African countries but still controlled from Paris.
A Stark Contrast with the CFA Franc
The CFA franc, still used in West and Central Africa, remains a post-colonial currency tied to the French Treasury and under the oversight of the Bank of France.
| CRITERIA | GHANA CEDI | CFA ZONE |
| Monetary soverignty | Full: Independent central Bank | Limited: convertibility guaranteed by France |
| 2025 performance | +42.57% vs USD | Flat or declining (hidden internant inflation) |
| Political leadership | Assertive economic nationalism | Continued dependency on French diplomacy |
| Colonial relationship | Free from UK influence | Economically and military tied to France |
| Market access | Direct and Flexible | Filtered through French banking institutions |
Ghana Reaps the Benefits of Monetary Sovereignty
The rise of the cedi is backed by strong fundamentals:
- A surge in gold and cocoa exports, generating over $4 billion in just the first four months of 2025.
- Effective policies from the Bank of Ghana, operating with full independence.
- A stable political and security environment, with Ghana recently ranked among the safest countries in Africa.
“Ghana controls its currency therefore, it controls its destiny.” West African economic analyst
Ghana: A Rising Model of African Independence
While Ghana navigates as captain of its own economic ship, most CFA-zone countries remain bound by colonial-era monetary chains, limiting their full potential.
Ghana’s leadership, though discreet, stands out:
- No foreign military bases visibly operating,
- No external control over its currency,
- Economic diplomacy oriented toward BRICS, China, UAE, and the US on equal footing
Meanwhile, leaders in the CFA zone often need approval from Paris before printing currency, reforming their central banks, or adjusting monetary policy.
“So… Are We Doomed to Stay in the CFA?”
“This CFA, are we just doomed to stay in it? Tchai…”
This popular lament reflects a growing frustration among French-speaking African populations. While Ghana soars, the CFA franc stagnates in a frozen neocolonial framework.
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Ghana’s success proves one thing:
It is possible to be African, stable, prosperous, and sovereign.
But that requires political will and historical courage.
Ghana Shows the Way
The Ghanaian cedi is no longer just a currency it has become a symbol of African economic freedom. In light of Ghana’s rise, Francophone Africa faces a choice: remain trapped in monetary dependence or leap into true sovereignty.
History is being written and it’s watching.
Editorial Team
