Business News of Monday, 31 October 2022

Source: www.ghanaweb.com

Ghanaians on social media 'resurrect' worst-performing cedi with 'positive words'

File photo of Ghana cedis notes File photo of Ghana cedis notes

President Nana Addo Dankwa Akufo-Addo has called on Ghanaians to desist from speaking ill against the country’s currency. According to him, speculations about the cedi and illegal forex trading activity in the past months, have triggered its decline, especially against the US dollar. "Fellow Ghanaians, as the French would say, l’argent n’aime pas le bruit, to wit, money does not like noise, sika mpɛ dede. Where there is chaos, where there is noise, where there is unrest, you will not find money." "If you talk down your money, it will go down. If you allow some unidentifiable person to talk down your money, it will go down," he noted. Although this theory can be debated, Ghanaians on social media platform, Twitter, in their own way, have been seeking to ‘resurrect’ the cedi which is listed as the worst-performing currency in the world, overtaking the Sri Lankan Rupee. In a rather satirical turn of events, some Ghanaians on the platform have been calling for the cedi to miraculously appreciate and perform better than it currently is. “Arise oh cedi! Again I say arise!,” one user wrote while another said; "Have you praised the cedi this morning? Do the needful" Another Twitter user said, “Ayomide, rise!” Meanwhile, the woes of the cedi have continued in the 10 past months, declining by about 50 percent against the US dollar. This has been coupled with inflationary pressures which have seen Ghana record a rate of 37.2 percent in September 2022 – the highest in about 20 decades. The current economic challenges in Ghana have culminated in job losses, worker agitations, rising cost of living and general frustration among the populace. See reactions from some Ghanaians on Twitter below:

Dear @ghanacedi, I’m sorry. I’m so sorry that I was not your mother. If I was your mother, you would have been so loved— Durag Habibi (@Gdn432) October 31, 2022

The Cedi is strong The Cedi is fighting depreciation The Cedi is the best currency The Cedi is doing amazing The Cedi is strong The Cedi is fighting depreciation The Cedi is the best currency The Cedi is doing amazing— Osei Kwame (@fremekwame) October 31, 2022

Cedi my love, you beauty.— Michael Oti Adjei (@OtiAdjei) October 30, 2022

“Cedi, look at me. This ain’t you. You’re brave. You’re smart. You’re the best I’ve ever known and I’m very lucky to be with you.” pic.twitter.com/DkfqvafOQZ— Royalty ???????? (@NKaaayyy) October 31, 2022

Have you praised the cedi this morning? Do the needful.— Senyó (@Twin_Senyo) October 31, 2022

Cedi b3 gye wayeyi ne ntomtom. https://t.co/RJPM29aTlZ— Destro (@papa_kwadwo) October 31, 2022

Now u dey see your body Premier Gaou dey speak French to us. Ibi so https://t.co/7uSkNJY1y9— ???????????????? ???????????????????????? (@BrodoSchemes) October 31, 2022

It's now time to sit down with your 50gh note and tell it, it's time to grow up and start acting like adult and things cos....— Kuulpeeps (@kuulpeeps_) October 31, 2022

Arise oh cedi! Again I say arise!— Christopher Nii Laryea Tawiah-Mensah???????? (@nii_laye) October 31, 2022

I now understand why banks don’t allow customers to make phone calls in the banking hall. l’argent n’aime pas le bruit— Chaka (@no_azonto_alwd) October 30, 2022

Ayomide, rise! https://t.co/rbz2UCDt1n— Abena (@_osaah) October 31, 2022

Ghana’s President urges: “don’t talk down your own currency. It will go down”. Someone in the comments: “Mr President, Talking down the money was exactly how you campaigned for the job…” https://t.co/R6yB8TPA9q— Ranga.???????? (@RangaMberi) October 31, 2022

https://t.co/nONuOASXEG pic.twitter.com/KBt5LbES4j— A. Kadiri (@SheriffBlaque) October 31, 2022

Time to change the national anthem to "Arise Ghana cedi for your country Your nation demands locomotion Let's us all unite affirm her And make her great and strong We are all involved"— Yaa Abrefi Kɔtɔ (@enyonvm) October 31, 2022

Mr President! Talking down the money was exactly how you campaigned for the job! Please ask your Vice President to remind you as you appear to have forgotten how we all got here! Thank you ????????— Joyce Bawah Mogtari (@joyce_bawah) October 30, 2022

I guess you weren't talking down your currency then pic.twitter.com/qRIiUMfoxj— Legon James (@SKDovia) October 30, 2022

AYOMIDE RISE! https://t.co/77NkJbmy3J— Zubaida A-Rahman (@zubaidah_x) October 31, 2022

“Sika mp3 Dede” I knew this man was a fraud boy— DR. Sneaker Nyame (@SneakerNyame_) October 30, 2022

we are suffering but in french so “Souffrance”✨— code name duchess (@dr__biba) October 31, 2022

Change your playlist today, the cedi depends on it cos l’argent n’aime pas le bruit ????????????????— Kuulpeeps (@kuulpeeps_) October 31, 2022 MA/FNOQ Watch the latest episode of BizTech below: