A Senior Political Science Lecturer at the Kwame Nkrumah University of Science and Technology (KNUST), Dr. Kwasi Amakye Boateng, has weighed in on the significant devaluation of the cedi against major currencies, impacting businesses in Ghana.

Speaking in an interview with Millicent Safo-Adu on Kumasi-based Abusua 96.5FM, Dr. Amakye highlighted the ongoing discussions among Ghanaians regarding the cedi’s depreciation, emphasizing that these conversations are likely to persist until after the 2024 general elections.

Dr. Amakye specifically pointed out the role Dr. Mahamadu Bawumia played in opposition, setting standards for economic accountability and access in the heat of the 2016 elections, and convincing Ghanaians that he held the antidote to Ghanaian economic challenges. Describing John Mahama’s administration as incompetent was just rhetoric for political power, which has not reflected in his leadership as head of the economic management team.

“Dr. Bawumia has met several unions in opposition, talks about the state of the economy, and lectures about the free fall of the cedi against foreign currencies. So the standards that he sets for Ghanaians to judge him by, his contribution to Ghana’s development is the relationship between the cedi and foreign currencies. All we expect Dr. Bawumia to talk about is the cedi and the dollar conversation – that is the bottom line,” he stressed.

Dr. Amakye emphasised the importance of transparency and performance in public office, citing Dr. Bawumia’s responsibility to inform the public about any challenges hindering his effectiveness.

He explained, “Dr. Bawumia is not a small figure, so if he doesn’t know something and keeps saying it as if he knows what’s in the future, and as a result, the people believe in you based on what you’re saying and give you the mandate to rule. After being given the power, you’re not performing and haven’t informed the people about the challenges that are the reason you’re not performing your task”.

Regarding the relationship between President Nana Addo and Dr. Bawumia, Dr. Amakye noted the President’s trust in Dr. Bawumia’s economic expertise, dismissing claims that the President is hindering Dr. Bawumia’s efforts.

Performance

He emphasized “Nana Addo has a goodwill for Ghana, so with Dr. Bawumia’s knowledge in economics, there’s no way Nana Addo will ask Dr. Bawumia not to perform his task. Nana Addo made it clear he’s choosing Dr. Bawumia based on his knowledge of economics”.

He highlighted the significance of Dr. Bawumia’s past lectures on economic issues and stressed the importance of translating words into action in governance.

“When Dr. Bawumia was in opposition, the lectures he gave about the free fall of the cedi were golden.”

He also noted that In Public Administration, a section talks about Development management/administration which says talking is not doing, we separate talking from doing. Dr. Bawumia has tasted power, and Ghanaians expect him to do, to walk the talk.

Dr. Amakye also discussed the historical context of leadership in Ghana, pointing out the familial ties between past leaders and President Akufo-Addo, stating “If you take Ghana’s currency, the people whose heads are on the currency, at least four people have the same background as Nana Addo. None of them have had the opportunity to rule Ghana. So, if someone from such a house gets the opportunity to govern Ghana, first, he wants to leave a name for himself and the elders of his house who couldn’t get the opportunity to rule the name. The argument that Akufo-Addo is not allowing Bawumia to do what he knows best is a non-starter.”

He emphasized the need for impactful governance to leave a lasting legacy, suggesting that Dr. Bawumia should focus on addressing the cedi’s volatility and its impact on the economy.

Again, Dr. Amakye criticized what he perceived as Dr. Bawumia’s reliance on rhetoric over action, likening it to a strategy of gaining power through humility similar to that of President Nana Addo.

“It seems the good old talks with humility tactics Nana Addo used to gain power are what Dr. Bawumia is trying to employ to attain the high office of President,” he opined.