Ghanaian Cedis currency at an all time low, Gas and inflation at all time high - PodBites Ep. 20 ( The Sound of Accra Podcast Mini-Series)
The Sound of Accra Podcast · Adrian Daniels
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Show Notes
On Tuesday 15th march 2022, The Pound Sterling Passed the 10 Ghanaian Cedis mark briefly, meaning £1 converted to just over 10 Ghanaian Cedis. This is an all time low for the Ghanaian Cedis currency. Meanwhile, Gas prices are at an all time high, with diesel prices going past the 10 cedis mark also.
I released an episodes called the state of Ghana’s economy, Q4-2021, where I hinted that the Ghanaian economy was on a downwards spiral with inflation rising every week:
The State of Ghana's Economy Q4-2021
An interesting tweet has resurfaced by President Nana Akuffo-Addo, who tweeted on 4th May 2016: “The current depreciation of the Ghana Cedis against the US dollar is because of bad leadership. We should not be where we are today to buy the dollar for 3.72 cedis. Vote for Change #changenow"
Bloomberg has published that the ghana Cedi is now one of the worst performing currency among Africa’s top currencies.
Would Ghana still be one of the most attractive African destinations to live and invest in, for the coming years?
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