Richard Ahiagbah, National Communications Director of the New Patriotic Party (NPP), has challenged the narrative that a stronger cedi is an unalloyed triumph for Ghana.
In a panel discussion on MetroTV’s GoodMorningGhana monitored by Kumasimail.com, the NPP’s director of communication argued that the real measure of success should be job creation and export growth, not just currency appreciation.
Ahiagbah set the tone with a provocative question: “I want to understand the strategy. Why are we celebrating a stronger cedi when our economy is still import-dependent?”
He drew attention to the global example of China, which has long been accused of keeping its currency weak to boost exports.
“The U.S. and China are at loggerheads because the U.S. claims China manipulates its currency to make exports cheaper. So, if we want to drive exports, why are we celebrating a strong cedi?”
He pointed out the apparent contradiction in the government’s “24-hour economy” initiative, which aims to boost production and employment.
“If your goal is a 24-hour, production-led economy, a weaker currency is better for exports. So, what is the Accelerated Export Board supposed to achieve if the cedi is getting stronger and exports are getting more expensive?”
Ahiagbah was quick to dismiss ‘symbolic’ achievements like extended hours at passport offices or the DVLA as insufficient job creation.
“That’s not what you promised. If young people are to get jobs, we need real productivity and value addition. Enterprises must create wealth, not just operate longer hours.”
He emphasized that the real test of economic progress is whether Ghanaians are finding sustainable employment.
“We need jobs, not just a strong cedi. The long-term picture is what matters. What are we really trying to achieve?,” he asked.
He called for a growth-led policy that delivers sustainable employment rather than short-term currency gains.
“So this whole thing we are celebrating and jumping up and down, what is the long-term picture? What are they trying to achieve? … What Ghana needs now is not celebration of a strengthening cedi. We need, sustainably, to get employment for our people.”
Ahiagbah’s comments come at a time when the cedi’s appreciation up by as much as 17% against the dollar has been hailed as a sign of economic recovery.
However, many Ghanaians have yet to feel the benefits, with high prices and slow job growth still pressing concerns.
By: Kwadwo Owusu
