Kennedy Ohene Agyapong claims to have lost roughly $12 million due to the falling value of the cedi against the dollar between March and August of 2022.
Aside from his harsh criticism of the John Dramani Mahama administration in 2014, when he said, “if the fundamentals are poor, the exchange rate will expose you,” the Vice President has reportedly been silent since then.
In a speech to party members, Agyapong said that the currency rate was GH4.20p to a dollar at the time Dr. Bawumia was making such statements.
He said that since then, the exchange rate for the dollar in cedis has risen to an unprecedented GH$15.
“When your fundamentals are weak, the exchange rate will expose you. When you were making that statement, the exchange was GH¢4.20p. On Friday, it was GH¢15.00 to a dollar.
“What message do you want to give to Ghanaians again? Let me tell you; I’m telling you this straight; I’m saying all these things because of [something]…from March this year to August this year, through the exchange rate, I lost $12 million,” Kennedy Agyapong said.
Kennedy Agyapong is one of the leading figures gunning to replace president Nana Addo Dankwa Akufo-Addo as leader of the NPP going into the 2024 General Elections.
Others rumoured to be interested in becoming flagbearers include Vice President Mahamudu Bawumia, Trade and Industry Minister Alan Kyerematen. The primaries are slated for next year.