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Deception and illusions of political power: The death of the Ghana cedi

Opinion

4 hours ago
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During the NPP era, especially around 2022–2023, I often found myself compelled to advise some colleagues who dismissed every form of criticism as NDC- or opposition-induced commentary.

In many instances, however, one could clearly see that these were constructive criticisms, expressed without malicious intent. It was heartbreaking because, in some cases, these concerns came from party activists who had been loyal for years — people who sacrificed and campaigned tirelessly when it mattered most, between 2009 and 2016.

Yet, the illusion of political power clouded their judgment, making a simple housefly appear to them as a mystical, fire-blazing dragon. Some built entire "countries" in their heads and assumed the roles of all three arms of government — President, Speaker of Parliament, and Chief Justice — within their little wonderland. They forgot that they were only dreaming, and those dreams could easily become nightmares if conscious efforts were not made to listen to the grievances of the masses, regardless of political affiliation.

Strangely, this same cloth of political illusion has now covered our NDC family — and so early in the day, barely eight months into power. Any genuine concern expressed is quickly dismissed as NPP-inspired or opposition-driven.

We are now approaching Christmas, and most businesses have begun their end-of-year imports. Yet the reality is stark: banks are unable to guarantee transfers due to difficulties in our forex management. Some transfers have been pending for almost two months.

The only way to guarantee transfers now is to buy dollars at cut-throat rates on the black market and deposit them in the bank for onward transfer to suppliers, producers, or business partners.

Admittedly, it was good news when we all saw the cedi gaining strength from October 2024, a trend that has continued to this day. But what is the point of having “good rates” at the banks when there are no dollars available to support transfers? Even the allowable $10,000 meant for travelling business people and ordinary Ghanaians cannot be provided by the banks.

Annoyingly, those entrusted with leadership are neither ready to listen nor prepared to put measures in place to remedy this difficulty. Instead, some are happily swimming in the illusion of political power, tagging every concern as “NPP-manufactured” — as though all businesses in Ghana are owned by the NPP.

 

source: Dr. Richard Yeboah Asante