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Ghana’s Strong Cedi Is Crushing Its Straw Basket Export Industry

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For decades, the intricately woven Bolgatanga basket—known for its vibrant colors and durability—has been one of Ghana’s most recognized exports, adorning homes from Berlin to Brooklyn. But a surprising new threat has emerged: the Ghanaian cedi is becoming too strong.

Exporters and weavers in the Upper East Region are raising alarm over the sharp appreciation of the local currency, warning that the very success of Ghana’s macroeconomic stabilization efforts is inadvertently pushing a historic industry toward collapse.

The Numbers Tell the Story

Over the past year, the cedi has strengthened by approximately 40 percent against the US dollar, moving from around GH¢14-15 to the dollar to approximately GH¢10. For an export industry that prices its goods in dollars but pays workers and covers local costs in cedis, the math has turned devastating.

“Prices negotiated with buyers when the dollar was trading at GH¢15 are now completely unsustainable,” Nicholas Apokerah, Executive Director of TradeAid Integrated, a non-governmental organization that exports the baskets told Ghana News Agency. “The amount we receive in cedis is no longer enough to pay the weavers, let alone cover our other operational expenses.”

A Human and Economic Toll

The impact is stark. In the Bolgatanga Municipality alone, more than 100,000 people involved in the straw basket value chain—from harvesters of raw materials to weavers and exporters—face an uncertain future.

“If things do not change, the entire basket industry will collapse,” Apokerah warned. “That would be disastrous for this municipality and the region, which is already grappling with climate change challenges and conflicts.”

During the dry season, when farming is impossible, thousands of rural women depend on basket weaving as their sole source of income to support their families.

A Major Foreign Exchange Earner at Risk

Nicholas Apokerah. Image: GNA

The basket industry is no minor craft. According to the Ghana Export Promotion Authority (GEPA), the Industrial Arts and Craft sub-sector, which includes baskets and related handicrafts, generated US$95.74 million in foreign earnings in 2023—accounting for 2.30 percent of Ghana’s non-traditional export revenue.

“Basket is the number one known craft of Ghana internationally. It brings in a lot of foreign exchange,” Apokerah noted. “Just our small office has done over US$100,000 worth of baskets this year.”

Yet the strong cedi has significantly reduced the local currency value of those earnings, making it difficult for exporters to meet production costs. In one striking example, an exporter received 75 percent upfront payment for a US$100,000 order, but by the time the funds were converted, the cedis received were insufficient to complete production.

“We have not been able to pay ourselves,” Apokerah admitted. “Our focus now is to make sure we supply the customers and maintain trust, but this is not sustainable.”

A Paradox of Success

The cedi’s appreciation is, in many ways, a sign of economic progress—the result of successful stabilization policies, increased foreign exchange inflows, and improved investor confidence. But for export-oriented industries, the rapid adjustment has created a paradox: the stronger the currency, the harder it is to compete.

Major markets for Bolgatanga baskets include the United States, Germany, and the Netherlands—sophisticated buyers with alternatives. If Ghanaian exporters cannot reliably fill orders, Apokerah warned, those customers will turn elsewhere.

“Once you lose customers, other countries will fill the gap, and it will be difficult to return,” he said.

A Call for Policy Intervention

Exporters are not asking for the cedi to weaken artificially. But they are calling for targeted interventions to cushion the industry during periods of sharp currency fluctuation.

Apokerah urged the government to consider soft loans through the Ghana Exim Bank and structured dialogue with exporters to help stabilize the sector.

“We are not saying the cedi should not be strengthened,” he stressed. “But the strengthening should be gradual to allow exporters to renegotiate prices. If you collapse your exports, where will you get the foreign exchange to stabilise the cedi?”

A Warning for Emerging Markets

Ghana’s dilemma offers a cautionary tale for other emerging economies. Currency appreciation—often celebrated as a sign of economic health—can carry hidden costs for labor-intensive, export-dependent industries. When adjustment is too rapid, the human and economic consequences can ripple through communities for years.

For the women weavers of Bolgatanga, whose hands have shaped an internationally recognized craft across generations, the message from policymakers will determine whether their art survives as a thriving export or fades into memory.

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Young Self-Taught Black Inventor Julian Brown Develops Revolutionary Plastic-to-Fuel Technology

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Atlanta, USA – A young Black inventor from Atlanta, Julian Brown, has stunned the scientific community and gone viral worldwide after developing a backyard process that converts everyday plastic waste into usable diesel, gasoline, and jet fuel.

Born in Tennessee and raised in Atlanta, Brown — a self-taught welder with no formal degree or laboratory — created a system called “Plastoline.”

Using an upgraded form of pyrolysis (a thermal decomposition process), enhanced with microwaves and solar energy for cleaner conversion, he built a small reactor capable of turning discarded plastics back into high-quality fuel.

Independent tests reportedly confirmed that the diesel and gasoline produced are among the most refined seen, and he has successfully powered vehicles with the fuel in live demonstrations.

Brown launched a startup called Nature Jab and began sharing his experiments on Instagram and TikTok, where the videos quickly gained millions of views globally. Despite suffering second-degree burns in a reactor explosion, he refused to abandon the project.

He attempted to raise $1 million to scale the technology but secured only tens of thousands of dollars. In July 2025, he posted that he was under attack before temporarily vanishing from public view.

He has since re-emerged, with supporters calling for his protection and greater investment in his work.

The innovation has sparked particular excitement across Africa, where plastic waste accumulates in massive quantities in landfills and communities.

Experts say Brown’s technology could offer a practical solution for turning waste into energy, addressing both environmental pollution and fuel shortages on the continent.

Commentators have criticised the lack of substantial support from investors and the broader community, questioning why a breakthrough with such transformative potential, especially from a young Black inventor, has not received wider backing.

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MTN Signals Major Data Center Investment Plans in Ghana

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Accra, Ghana – MTN Group is exploring significant investments in data centers in Ghana as Part of its digital push.

The telecoms giant says the move is a natural extension of its broader digital infrastructure strategy in one of its most important African markets.

Group Chief Executive Officer Ralph Mupita made the announcement during a strategic visit to Ghana at the beginning of 2026. He said the company is keen to partner with both public and private stakeholders to develop large-scale data centers that would enhance cloud computing, data storage, and digital service capabilities across the country.

Mupita stated that such facilities are critical to supporting Ghana’s long-term digital transformation and economic growth.

He acknowledged, however, that establishing world-class data centers would require addressing key infrastructure challenges, particularly reliable power supply, suitable land, and advanced cooling systems. MTN is therefore considering collaborative models to ensure projects meet both commercial viability and sustainability standards.

During his engagements, Mupita held discussions with MTN Ghana’s leadership, regulators, and senior government officials, including the Bank of Ghana, the Ghana Investment Promotion Centre, and Minister for Communications, Digital Technology and Innovations, Sam George.

He described Ghana as a priority market that “feels like home” and reaffirmed the Group’s commitment to deepening investments in digital infrastructure and financial inclusion.

On the fintech front, Mupita highlighted plans to expand mobile money services while working closely with the central bank to strengthen fraud prevention through artificial intelligence.

The visit underscored MTN’s ambition to remain a key partner in Ghana’s digital economy, driving innovation, job creation, and inclusive growth.

MTN Ghana (Scancom PLC) is the dominant telecommunications market leader in Ghana and has been recognized as a top-performing operation within the MTN Group. The company is actively shifting from a traditional telco to a technology platform company, with a focus on fintech (Mobile Money) and digital inclusion.

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New Cashew Processing Plant and Fertilizer Facility to be Set Up in Ghana

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Accra, Ghana – Ghana’s Ministry of Food and Agriculture has signed three Memoranda of Understanding with Chinese firm SENTUO Group Limited to drive agro-industrial growth through major new investments in processing, fertiliser production, and farmer support services.

The agreements, signed in Accra on Tuesday, include the establishment of a cashew processing plant at Sampa in the Bono Region and a fertiliser manufacturing facility. SENTUO will also roll out 30 Farmer Service Centres nationwide to improve access to quality inputs, mechanisation services, and technical support for farmers.

The projects are expected to create significant employment opportunities, particularly for young people, while enhancing value addition and reducing Ghana’s reliance on raw commodity exports.

Minister for Food and Agriculture Eric Opoku described the partnership as a major step toward the government’s Agriculture for Economic Transformation Agenda.

“We are ready to industrialise Ghana’s agriculture,” he said, adding that the cashew plant will process both nuts and apples to maximise returns across the entire value chain.

He emphasised the need to move from exporting raw produce to building a vibrant, value-driven agro-industrial economy.

The Chairman of SENTUO Group Limited, Xu Mingjuan, said the company’s nearly 20 years of operation in Ghana and the current government’s 24-hour economy policy had encouraged further investment. He confirmed that engineers have already started preliminary work on the projects.

The deals signal growing Chinese interest in Ghana’s agricultural transformation and are expected to strengthen food security, boost exports, and create sustainable jobs across the value chain.

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