Is Ghana's currency stronger than it should be? A former MP raises serious concerns about the Cedi's current valuation, warning of potential economic turbulence ahead!
Henry Kwabena Kokofu, a former Member of Parliament for Bantama and a contender for the NPP General Secretary position, has ignited a lively discussion about Ghana's economy. He's put forth a bold claim: the Ghanaian Cedi might be overvalued on the market right now.
In a recent video clip circulating on X, shared on March 1, 2026, Kokofu expressed his views. While he emphasized that he's certainly not wishing for any economic hardship to befall the nation, he strongly believes that the government needs to be prepared for a significant action should a new economic crisis emerge.
But here's where it gets controversial: Kokofu's core argument is that the Cedi's current market strength might not accurately reflect its true worth. He suggests that if the currency is being propped up artificially to appear stronger than it is, it could actually leave the entire economy more vulnerable to shocks.
“I don’t pray for an economic crisis, but the way we’re going, it will get there… and the only solution for the next economic crisis this country would go through is for the government to devalue the currency,” Kokofu stated directly in the video. This is a pretty strong statement, implying that a deliberate weakening of the currency might be the only way out of future financial trouble.
And this is the part most people miss: The timing of Kokofu’s statements is particularly noteworthy. As he is actively campaigning to become the General Secretary of the New Patriotic Party (NPP), his economic pronouncements could certainly influence public perception and internal party discussions.
What do you think? Is the Cedi truly overvalued, or is this a sign of economic strength? Could a devaluation really be the answer to future crises, or would it cause more harm than good? Share your thoughts in the comments below – we'd love to hear your perspective!
