Franklin Cudjoe, President of IMANI Africa, has remarked that Dr. Mahamudu Bawumia’s digitalization agenda closely resembles the National Democratic Congress (NDC)’s concept of a “24-hour economy.”
He explained that both initiatives are fundamentally aspirational and would naturally materialize if the right economic conditions are in place.
Cudjoe further emphasized the need for the Vice President to prioritize addressing the economic mismanagement and pervasive poor governance that have characterized the current administration under the New Patriotic Party (NPP).
“Thank you, my man, Dr. Mahamudu Bawumia. You did meet my colleagues, and you reported you shared your vision for Ghana, which to you ultimately should be anchored on your favorite digitalization agenda. Great stuff!
“Do you have to wait to be president before you unburden us with e-levy, COVID-19 levies escalating exchange rate, and all the mouth-watering reliefs you are promising many who continue to be tortured economically?”
Franklin Cudjoe
Franklin Cudjoe further lamented that the most distressing aspects of the current administration are the harsh debt exchange program and the financial haircuts imposed on many.
He maintained that these policies tragically resulted in the untimely deaths of hundreds of vulnerable elderly pensioners and senior citizens.
The IMANI President expressed his frustration, stating that this is precisely why he continues to challenge Dr. Mahamudu Bawumia to take responsibility for the economic indicators he introduced into political discourse as measures of the country’s economic health.
According to him, these metrics, which were once touted as evidence of economic stability, have now spiraled into chaos.
He highlighted the current realities: an exchange rate nearing $1 to 17 cedis, inflation soaring to 24%, over 40 burdensome taxes, interest rates climbing to nearly 35%, and a monumental debt crisis unprecedented in Ghana’s history.
He also pointed to desperate attempts at price controls on essential commodities, illustrating the extent of the economic disarray.
These figures, he emphasized, “show how far the economy has deviated from normalcy, underscoring the urgent need for accountability and a reexamination of leadership priorities.”
He also highlighted the imposition of unnecessary levies and the blatant abuse of procurement processes, which have been exploited for private gains amounting to millions of dollars under the current administration.
Bawumia Urged to Address Economic Realities Honestly
Furthermore, Franklin Cudjoe emphasized the importance of the Vice President taking responsibility and addressing the state of the economy openly and honestly.
He stressed that this is crucial because some prominent members of the NPP are actively misleading the party’s supporters about the true economic situation.
According to Cudjoe, such misrepresentation not only distorts the reality of Ghana’s economic challenges but also undermines efforts to foster accountability and transparency within the political discourse.
“One highly respected friend recently asked, ‘Are you aware that from 2013 to the end of 2016 alone, the economy, under JM, contracted by $9 billion? In fact, from $64.8bn in 2013, it dropped to $56bn in 2016. He continued, since the NPP took over in 2017, are you aware that the economy has grown by over $20bn to $76.3bn?’
“Respectfully, the numbers in the above quote are not correct. The $76.3 billion GDP he quoted can only be obtained by using an awam exchange rate. Using 16 GHS to 1 USD as the exchange rate and accepting that GDP number as correct would mean that Ghana’s GDP today is 1.22 trillion GHS”.
Franklin Cudjoe
He clarified that Ghana’s GDP is not GHC 1.22 trillion as claimed but is closer to a trillion cedis.
Cudjoe pointed out that in dollar terms, the GDP stands at approximately $63 billion, translating to a per capita GDP of about $1,840—lower than it was in 2013.
He asserted that this indicates that, from the perspective of the average citizen, the economy has effectively contracted under the NPP administration.
Cudjoe further addressed Vice President Bawumia, recalling his earlier statement, “I am a problem solver by nature. What advanced countries have done, we can do even better.”
While acknowledging the potential, Cudjoe stressed that achieving this requires a strong and stable foundation.
He pointed out that the so-called “solid” team once praised by the Vice President has proven to be “economically impotent” over time.
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