A Strong Cedi Is Killing Jobs – NPP Richard Ahiagbah ‘Blasts’ Mahama’s Economic ‘Delusion’

The recent performance of the Ghanaian cedi and the government’s economic strategy became the subject of a tense television discussion when Richard Ahiagbah, the NPP’s National Communications Director, appeared on Metro TV’s Good Morning Ghana.

During the programme, hosted by Moro Awudu, Ahiagbah challenged the government’s positive assessment of the cedi’s appreciation, arguing that a stronger currency does not automatically translate into improved economic conditions for all sectors.

He explained that when the cedi gains value, Ghanaian goods may become more expensive for buyers abroad, potentially weakening the competitiveness of local exporters. He questioned whether celebrating the currency’s strength was consistent with the government’s objective of building an export-driven economy.

Ahiagbah argued that the government should concentrate on creating jobs, stimulating local industries and increasing the volume of goods produced within the country. He warned that placing too much emphasis on exchange-rate improvements could distract attention from persistent structural problems affecting the economy.

The conversation subsequently turned to the proposed 24-hour economy initiative, another major component of the government’s economic agenda.

Ahiagbah expressed doubts about whether the policy, as he understood it, would deliver meaningful economic transformation if its main focus was simply to keep services operating for longer periods. He maintained that extending business hours would have limited benefits without corresponding increases in production, industrial capacity and value addition.

According to him, Ghana needs an economic model that supports manufacturing, encourages businesses to process local resources into finished products and generates employment on a sustainable scale.

His position was that the country’s development strategy should be measured by improvements in productive capacity and job creation rather than by currency performance or longer service hours alone.

The discussion underscored differing views about how best to assess Ghana’s economic progress. While the government has welcomed the cedi’s recent gains, Ahiagbah and other critics argue that sustainable growth depends on addressing deeper economic weaknesses and strengthening the country’s productive sectors.

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