The pharmaceutical sector in Ghana have announced immediate price cuts of 5% to 15% on a wide range of pharmaceutical products, a remarkable gesture for which citizens have expressed gratitude. According to industry leaders, the steady growth in the Ghanaian cedi’s value against the US dollar in recent months is directly responsible for the price drop.
The decision was confirmed in a joint statement issued on Wednesday, June 4th, 2025, by the Ghana National Chamber of Pharmacy (GNCoP) and the Pharmaceutical Importers & Wholesalers Association (PIWA). Both organisations specifically praised the Government of Ghana, the Ministry of Finance, and the Bank of Ghana for implementing economic policies they believe have significantly strengthened the national currency.
“The current exchange rate trends are a strong indicator of improving macroeconomic stability,” the statement indicated, emphasizing the sector’s observable advantages. The price reductions were made possible by lower import costs for raw materials for pharmaceutical products and completed goods as well as increased predictability in business planning.
Pharm. Audrey Serwaa Bonsu, CEO of GNCoP, framed the reduction as a proactive contribution. She described it as “a demonstration of our sector’s commitment to national development and public health,” adding that the pharmaceutical industry stands ready to actively support the government’s broader agenda to reduce inflation.
Even though acknowledging operational hurdles – such as managing existing stock purchased when the cedi was weaker and exchange rates were higher – the industry bodies stressed that the price drop reflects a genuine intention to improve public access to essential medicines and alleviate financial pressure on Ghanaian households.
In order to maintain these encouraging achievements, the statement called for greater support for key players in the healthcare industry and urged the government to continue practicing cautious economic management. This price cut represents a major, consumer-facing effect of the cedi’s recent performance.
Source: abcnewsgh
