The president of the Republic of Ghana, Nana Akufo Addo replied to BBC’S Peter Okwoche’s claim that Ghana is struggling and does not look attractive to investors, in a conversation at the Presidency on Monday, April 4, 2022.
In the conversation between the president and the Nigerian-born British-based journalist, the president outlined the country’s economic strongholds and also mentioned the fact that the Cedi is gradually catching up with the dollar which is a sign of an economic improvement.
His speech was swiftly interrupted by Mr. Okwoche Stating that, per facts and his observations, the country does not look attractive for investors to invest.
He outlined, “Ghana like many of the countries on the continent, we have a lot of many important natural resources, bauxite, iron, Lithium, Gold, we were called the Gold Coast so those are there for those who are interested in mining… Ghana is a gateway to the African Continental market which involves 1.2 billion people. Said the President.
Mr. Peters interrupted, “But you mentioned all that but if I look at the Ghana economy at the moment I mean let’s be honest is doing terribly. Inflation in Ghana is 15.73 percent, the Ghanaian Cedi has fallen 20 per of the dollar the worst after Russia…It doesn’t look like a place where I will go and put my money.
The president in his defense of the statement by the pungent journalist indicated to him that the economy is beginning to form up, and also Ghana is not the only country suffering from economic instability.
He stated, “It’s beginning to form up, we have seen the Cedi systematically appreciating against the dollar
“Where will you put your money today In Britain which is suffering the worst standard of living for over 30 years?… Let’s situate ourselves correctly the world is going through hot times Ghana is no exception Nigeria is no exception”
President Nana Addo Dankwah Akuffo Addo highlighted.