What’s Going On With the Dollar in Ghana?

Let me be real with you — when I first moved to Ghana in 2016, I had no clue how the U.S. dollar was pegged to the Ghanaian cedi.

Over the last few years, I’ve watched the value of the cedi drop significantly, giving me more spending power with my U.S. dollars. Fast forward to now? That same $100 buying power has significantly decreased. African Americans who’ve relocated or frequently visit Ghana, are now feeling the pinch..

I’m not an economist — but I live this Ghana Life every day. And if you're considering moving to Ghana or spending serious time here, you need to know how this impacts your day-to-day. I’ll be honest — I’m glad Ghanaians, including my own family in Mamprobi and Jamestown, Accra are catching a break after nearly a decade of economic strain. A stronger Ghana Cedi brings back some of the buying power they’ve lost. That same shift its changing the math for U.S.-based income earners in Ghana.

📉 So, What’s Going On With the Dollar in Ghana?

Over the past few years, the Ghanaian cedi (GHS) has gone through some serious ups and downs. At one point, the dollar was so strong you could get 15 cedis for every dollar earlier this year. These days? It’s closer to 10.5 — and sometimes even lower. These “small” changes add up, especially if you earn, save, or spend in USD like most of us in the diaspora.

🧾How It’s Affecting African Americans on the Ground

1. Living Expenses Are Climbing Fast

Groceries, rent, dining out, and Uber rides — it’s all going up. Many of these items are tied to imports, and when the exchange rate drops, prices rise. A pack of cheese or imported juice? Might cost you what an entire meal did a few years back. If you're a full-time resident, it means tighter budgeting. If you're visiting, your weeklong trip budget might only last four days.

2. Real Estate & Construction Costs Are Less Predictable

A few years ago, buying land or starting a building project in Ghana felt very doable. But now? With the Ghana Cedi appreciating and material costs fluctuating, the game has changed. Some folks have had to pause their builds because the dollar simply doesn’t go as far anymore.

3. Tourism & Group Travel Need a Budget Reboot

As CEO of African Roots Travel, I’ve had to rework our pricing models. Accommodations, transport, food, and even entrance fees — all have adjusted. While we’re committed to curating memorable experiences, we now have honest conversations with our clients about what their dollar can — and can’t — do in today’s Ghana.

🟢 It’s Not All Bad News

If you earn in cedis or have local income streams, a stronger currency can bring some much-needed stability. And this economic shift is encouraging many of us to think bigger — to start businesses that serve not just expats, but local Ghanaians, too. That’s where the real sustainability lives.

Truth be told? Living in Ghana — even with its economic shifts — is still priceless. The culture, the peace of mind, the sense of belonging… it all outweighs the financial stress (most days, anyway!). Sometimes I want a Loose Burger (Coney Island), Crazy Bread from Little Ceasers, Mexican Food that's made by Mexicans or some What A Burger but those are small things I can look past.

🔑 Tips from Me to You

If you're planning a move or spending extended time in Ghana, here are some real-life tips can make a big difference:

• Track the exchange rate. Use apps like XE or OANDA.

• Shop local. Buy local produce and essentials at the market.

• Skip nightlife during holidays. Prices are inflated.

• Cook at home. Don’t fall for every TikTok restaurant.

• Join local communities. Groups like the African American Association of Ghana can connect you with others and keep you in the loop.

• Host virtual meetings. Avoid random business meetings/drop in visitors that turn into expensive lunch and Uber adventures.

• Ask U.S. visitors to bring essentials when they come (I have to have Lawry's Seasoning & Red Hot Sauce)

• Diversify income. Don’t rely solely on the dollar. Explore Ghana-based business opportunities.

• Take your time with housing. Landlords may ask for 1–2 years upfront. Look beyond hotspots like Osu, Cantonments, and East Legon for better terms.

• Budget for inflation. Add a 20% buffer to your monthly budget.

• Talk to people on the ground. We’re your best resource.

🧭 Final Word

Living in Ghana is a journey — and like any journey, it has its detours.

Yes, the dollar doesn’t stretch the way it used to, but if you’re here for the long game, you can absolutely thrive. It just requires planning, adapting, and building with intention.

The dream is still alive. Just adjust your toolkit.

Maurice Cheetham is a Ghanaian American who relocated to Accra from Detroit seven years ago. He serves as Vice President of the African American Association of Ghana, consults through his firm Diaspora Bridge Consulting, and runs The Africa STEM Academy, a youth-focused tech education program.

📍 Thinking about making your own journey to Ghana?

Let African Roots Travel help you walk in the footsteps of your ancestors and create memories that last a lifetime.

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