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Business News of Friday, 21 October 2022

Source: www.ghanaweb.com

Ken Ofori-Atta has failed miserably as finance minister - Prophet Oduro

Finance Minister, Ken Ofori-Atta play videoFinance Minister, Ken Ofori-Atta

General Overseer of the Alabaster International Ministry, Prophet Kofi Oduro, has questioned why President Akufo-Addo has decided to stick with Finance Minister, Ken Ofori-Atta, for a second term amid the current economic challenges. The man of God believes that Ken Ofori-Atta has failed miserably in discharging his duties as Finance Minister yet still keeps his job. Prophet Oduro in a viral video sighted by GhanaWeb told his congregation that if Ghana was his own private company, he would have sacked the under-fire minister and hired a different person who will deliver results. He however chastised the Akufo-Addo-led government for not heeding to criticism and called on the President to be more assertive and truthful to his ministers. "Wrong is wrong. When you are wrong, I need to look into your eyes and tell you that you are wrong. It doesn’t matter [who you are]; that is what is killing this nation and it is killing churches..." "This is the time, Your Excellency to make changes and that changes must be to the honour and glory of God…our finance minister, even though he is a Christian, has failed miserably and I am telling Your Excellency with all due respect, this is the time to make drastic changes. We cannot sit here when $1.00 is equal to GH¢12.00," Prophet Kofi Oduro said. "You can do whatever you like; I came with a fresh grace to tell you something. Look! What I have observed is that the current government hates being told the truth but I am telling you, you will take it. If Ghana is my private company and somebody is not delivering; I fire them; I replace them; I hire somebody else and then we are working…why can’t a nation do that?" he quizzed. Meanwhile, 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 – GH¢14 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. MA/FNOQ Watch the latest episode of BizTech below: