Cedi’s woes: 'Absent' Ammisah-Arthur is more useful than Bawumia – Captain Smart

Captain Smart, host of Onua FM/TV morning show has weighed into the depreciation of the cedi demanding the whereabouts of the Vice President, Mahamudu Bawumia. The journalist who prides himself as being a member of the governing New Patriotic Party said it was disturbing the rate at which the cedi was depreciating but equally worrying was the silence of Bawumia. He said figuratively in an interview posted on Onua TV’s social media handles that Bawumia’s predecessor despite being late was more important than the Vice President. “The dollar is almost hitting 14 cedis, where is our Bawumia? I am an NPP person and I won’t stop saying it. Where is our Bawumia? “Very respectfully, even Amissah-Arthur who is dead is of more importance than him. What is his real importance to the extent that the dollar has hit 14 cedis?” he quizzed. Meanwhile, Finance Minister Ken Ofori-Atta has assured that there is no need to panic over the depreciation of the cedi and that the issue will soon be taken care of.

Time with Captain Smart: I’m NPP, but I always tell it like it is. You can arrest me a hundred times. We are building a country, not a political party.#OnuaTimewithCaptainSmart #OnuaTV pic.twitter.com/HAdSj6g8Lb— #OnuaTV (@OnuaTV) October 20, 2022 The Cedi has recently been classified by Bloomberg as the worst-performing currency against the US Dollar. Currently, the Cedi is trading at around GH₵13 – 14 cedis to a dollar at some forex bureaus. The depreciation rate is a contributory factor for the ongoing shop closures ordered by the Ghana Union of Traders Association (GUTA). According to the group, the fast depreciation of the Cedi is eroding their profits and also increasing the cost of doing business.

WATCH: Don’t panic over cedi depreciation- Ken Ofori-Atta tells Ghanaians #AsaaseNews pic.twitter.com/SeemDpmfnl— Asaase 99.5 (@asaaseradio995) October 20, 2022 SARA/PEN Watch the latest episode of BizTech below: