Kenneth Thompson, CEO, Dalex Finance
The Chief Executive Officer of Dalex Finance, Kenneth Thompson, has expressed concern over Ghana’s deteriorating economic state, particularly the cedi’s depreciation.
According to Thompson, the Cedi has lost its value due to what he describes as poor economic management by so-called “Dr. Feel-Goods.”
In an audio clip shared by Accra-based Joy FM on X, Thompson lamented the long-term damage to the country’s progress, noting, “I saw how our lives changed from ’72 onwards to the point where in the mid-70s, everybody was travelling.”
He stated, “Ghana has gone back to the ’70s, and it will take us another 53 years to get to 2016, and by then, the world would be in 2069.”
Thompson emphasised that the exchange rate continues to expose the weak fundamentals of the economy.
“If the fundamentals are weak, what exposes you? It’s the cedi; it’s as simple as that. The dollar was 1 to 4 Cedis, and now we are at 16 and rising. Please call me when we get to 20,” he said.
Addressing the hardships faced by citizens, the Dalex CEO criticised the government for asking Ghanaians to make sacrifices during economic difficulty.
“We are being managed by Dr. Feel-Goods, who gives us rhetoric but is never able to address the real issues. Ghana is not at war; when a country is at war, that’s when citizens are asked to make sacrifices.
“The cedi has collapsed, inflation is high, and our Dr. Feel-Goods are telling us that things have become better,” he remarked.
Thompson described the situation as a result of “pure mismanagement,” adding, “We can’t pay our children’s fees, we can’t save, we can’t eat properly.”
SSD/OGB
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