Outspoken political activist and media personality, Kevin Taylor, has finally shared his thoughts on the recent appreciation of the Ghana Cedi. Speaking on his show, Taylor raised concerns about how fast the cedi is gaining strength against the US dollar.
According to Kevin Taylor, before the 2024 general elections, one dollar was equivalent to about 17 Ghana cedis. However, the current rate is around 13.20 cedis to the dollar. While this might seem like good news to many Ghanaians, Taylor believes the speed at which the cedi is appreciating could cause problems, especially for Ghanaians living abroad.
He jokingly added that even the app he uses to send money to Ghana is “confused” because the exchange rate keeps changing so fast.
Taylor directed his message to Ghana’s current Finance Minister, Dr. Cassiel Ato Forson, who he believes is behind the cedi’s strong performance. He admitted that Ato Forson may not like him because of past criticisms, but said he knows the finance minister is simply doing his job. Despite this, Taylor urged him to slow things down a bit.
He explained that if the cedi keeps appreciating at this rate and reaches 8 cedis to a dollar in just two months, it could become very difficult for Ghanaians living abroad to send money home. Many of them earn in dollars, and a stronger cedi means they will get less value for the money they send.
Kevin Taylor called on the finance team to maintain the current rate of 13.20 for now, and only allow it to go down slightly in August.
Watch the video below
https://youtube.com/watch?v=WTk6k22GT-Q%3Fshowinfo%3D0
