Claim: The dollar to cedi exchange rate was GH¢10 in April 2025
Source: Samuel Nartey George, Minister for Communications, Digital Technology and Innovations
Verdict: False
Researched by Nusrat Essah
The Minister for Communications, Digital Technology, and Innovations, Samuel Nartey George, at a press briefing, focused on MultiChoice-DSTV’s bouquet pricing, claimed the cedi traded at GH¢10 to one United States dollar in April 2025.
Speaking at the briefing on September 5, 2025, he said: “In April this year, the exchange rate was 10 (cedis). MultiChoice increased (their rates) by 15%, so if they claim that a depreciation of the cedi is the basis for the increases that they were doing, in April this year, when the cedi was trading at 10, they increased by 15%.”
Did the dollar ever hit GH¢10 in April 2025?
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Fact-Check
To verify this claim, GhanaFact reviewed the Bank of Ghana’s (BoG) Historical Interbank Foreign Exchange Rates.
According to the BoG, between April 1 and April 23, 2025, the US dollar largely traded around GH¢15.5, while from April 24 to April 30, the cedi appreciated slightly, hitting around GH¢14.1 against the US dollar.
The cedi subsequently recorded a big appreciation against the dollar entering the 10 cedi zone on the BOG’s interbank FX rate at GH¢10.9 on May 23, 2025 and GH¢10.2 at the end of May 2025.
Did MultiChoice announce a hike in prices in April?
On March 24, 2025, MultiChoice Ghana (DSTV) announced a 15% average increase in subscription across all packages. The new prices took effect on April 1. During this period, the cedi was trading at GH¢15.5.
At no point in April 2025 did the exchange rate reach GH¢10 to the dollar as claimed by the minister, during that period, the dollar traded between GH¢14 and GH¢15.
Verdict
Therefore, the claim that the dollar was GH¢10 in April 2025 is False.
