Ghana Cedi ranked the worst performing currency in Africa

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• SULE 10 years ago

  Incompetence, ineptness, unintelligence galore coupled with a humongous appetite for corruption has served to make Ghana a completely failed state within just a period of 4 years, when it had been brought from a HIPC state to ...
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  Incompetence, ineptness, unintelligence galore coupled with a humongous appetite for corruption has served to make Ghana a completely failed state within just a period of 4 years, when it had been brought from a HIPC state to a lower middle income country, within a record period of just 8 years.

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• AKADU MENSEMA, COCAINE PARTY MEMBER 10 years ago

  AND FLOOD GHANA WITH COCAINE MONEY....

  AND FLOOD GHANA WITH COCAINE MONEY....

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• Elkhay 10 years ago

  how about the Zimbabwein dolla?

  how about the Zimbabwein dolla?

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• Nana 10 years ago

  Can something not be done about the cedi depreciating all the time against the major currencies? I feel sick about this especially when we have department of economics at Ghana's most prestigious universities such as Legon, K ...
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  Can something not be done about the cedi depreciating all the time against the major currencies? I feel sick about this especially when we have department of economics at Ghana's most prestigious universities such as Legon, KNUST, UCC and others. So, why can't we figure out exactly what's wrong. I rest my case.

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• EZEKIEL 10 years ago

  "Booklong Economics" is different from the PRACTICAL ECONOMICS! What do you expect when we IMPORT even those items we can produce locally eg. Rice ??? All these have to be paid in US$ /EUROS !
  In a nation of MOSTLY buying an ...
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  "Booklong Economics" is different from the PRACTICAL ECONOMICS! What do you expect when we IMPORT even those items we can produce locally eg. Rice ??? All these have to be paid in US$ /EUROS !
  In a nation of MOSTLY buying and Selling WITHOUT PRODUCING, NO AMOUNT of Legon or KNUST will save us !!

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• OWEN, NEW YORK 10 years ago

  A country does not strive on propaganda and corruption. Give back his seat and he will take us to the promise land. Nana Akufo Addo is the owner of the presidential seat. God is angry with the stolen verdict. The battle is th ...
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  A country does not strive on propaganda and corruption. Give back his seat and he will take us to the promise land. Nana Akufo Addo is the owner of the presidential seat. God is angry with the stolen verdict. The battle is the Lord's

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• NANA KOJO 10 years ago

  ....hahahahahhaha.....coward Ghanaians!!! who cant even fight for their basic rights...massa forget!!!, it will depreciate more.its just the beginning. remember, this is gear 1

  ....hahahahahhaha.....coward Ghanaians!!! who cant even fight for their basic rights...massa forget!!!, it will depreciate more.its just the beginning. remember, this is gear 1

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• GHFUO, change ur thinking 10 years ago

  WE NEED ACCOUNTABILITY N TRANSPARENCY IN GOVT!
  WE NEED CORRUPTION COURTS IN GH NOW!
  MAHAMA PAID TO APPEAR ON CNN!!! CNN DIDNT INVITE HIM. HE USED GH MONIES TO PAY FOR THE AIR TIME TO "GO N MARKET GHANA"...LOL
  WHY DID MAHAM ...
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  WE NEED ACCOUNTABILITY N TRANSPARENCY IN GOVT!
  WE NEED CORRUPTION COURTS IN GH NOW!
  MAHAMA PAID TO APPEAR ON CNN!!! CNN DIDNT INVITE HIM. HE USED GH MONIES TO PAY FOR THE AIR TIME TO "GO N MARKET GHANA"...LOL
  WHY DID MAHAMA GIVE AGGUDEY A PRESIDENTIAL PARDON? FOR WHAT? FOR HIM TO SAVE FACE AND NOT BE DISGRACED?
  THIS FOOL WAS SPENDING MONEY THAT WASNT HIS AND WOMANIZING WITH YOUNG LEGON FEMALES. WHERE IS THE MORALITY HERE?
  THESE GIRLS COULD HAVE BEEN YOUR SISTERS, DAUGHTER OR NIECE...YOU KNOW...
  ALL THESE THINGS ARE HAPPENENING IN GH, AND YOU EXPECT ME TO SUPPORT GH TO GO TO BRASIL? CMON NOW...LOOK AT OUR STADIUMS?
  NO SCOREBOARD, DIRTY, SMELLY BATHROOMS. WE AREA COMPLETE JOKE! MINN OF SPORTS, U DONT EVEN HAVE THE SENSE TO BUILD BETTER STADIAS WITH BETTER PITCHES, TRACKFIELDS ETC AND YOU THINK YOU
  DESERVE TO BANG WiTH THOSE WHO ARE DOING IT RIGHT?
  MAHAMA SAYS: LET THEM EAT CAKE....
  ...TARRIFS ARE GOING UP ALL ACROSS THE BOARD IN GH. YET, WE DONT SEE AN IOTA OF AN IMPROVEMENT IN PUBLIC SERVICES OR QUALITY INFRATSRUCTURE. WHERE R THE NDC VOTERS?
  ILLITERACY/LACK OF BASIC EDUCATION HAS CAUSED THE PPL TO VOTE OUT OF SHEER EMOTIONS AND ETHNIC JUDGEMENTS.
  PUMPING MONEY INTO PUBLIC SERVICE ISNT THE WAY TO GO. ESP IN TODAY'S CASH STRAPPED, TECHNOLOGY INSPIRED WORLD. GOVT MUST STREAMLINE THE PUBLIC SECTOR.
  WE HAVE DISTRICT, MUNICIPAL/CITY, REGIONAL AND FEDERAL GOVT . STREAMLINE THE GOVT N REMOVE THESE QUACK/QUASI, USELESS GOVT INSTITUTIONS WHICH EXIST BUT DONT DO ANYTHING TO RENDER EFFICIENT SERVICE OR COLLECT REVENUE.
  1.CHECK PUBLIC SECTOR CORRUPTION. INSTITUTE CORRUPTION COURTS!
  2.REDUCE PUBLIC SECTOR WAGES.
  It is for this reason that all governments, especially their finance ministers and their teams, always make it a priority to stop the ghost names phenomenon that has bloated the payroll in
  the public service. Regrettably, the phenomenon is still alive in the public service at this stage when we are told that about 70 per cent of our revenue is used to service the public wage bill.
  3.HIRE LESS PPL TO PROVIDE EFFICIENT SERVICE. WE NEED DISCIPLINE, CLEAR OVERSIGHT, CHECK N BALANCES N PATRIOTIC HARDWORKERS IN THE SYSTEM.
  GH IS PRESENTLY IN A DEFICIT CRISIS. WE BORROW, BUT DONT PAYBACK OUR LOANS. NDC IN THEIR LAZINESS HAS PUT IN PLACE AN AUSTERITY PROGRAM TO KILL GHPPL.
  THEY HAVE INTENTIONALLY DEVALUED THE CEDI. RAISED INTEREST RATES SO YOU AND I CANT CONSUME MORE. BUT BE FORCED TO SPEND LESS, WITH LESS CONSUMPTION.
  INSTEAD OF STOPPING THEIR BORROWING, AND PAY BACK THE DEBT. THEY ARE ENJOYING AND MAKING YOU AND I SUFFER.
  4. FACTORIES
  GH REVENUE SOURCE: TAXES. INTEREST ON LOANS, GRANTS FROM OUTSIDE FOR REVENUE GENERATING INFRAS VENTURES IN GH. STREAMLINE INDUSTRIES, GOVT MUST CUT DOWN SPENDING,
  WIDEN TAX BASE, EXPORT MORE, IMPORT LESS N SELL IMPORTS AT HIGH PRICES.
  WE DONT NEED A BUNCH OF THIEVES WHO COME TO STEAL N COLLECT BRIBES! WHO ARE YOU MAKING A MOCKERY OF?...
  5.BRING IN FOREIGN INVESTORS TO BUILD SOPHISTICATED supply chains in operations Like autos and auto parts, electronics, pharmaceuticals, medical devices, chemicals, petrochemicals.
  WE HAVE SO MANY MIDDLE AND HIGH SKILLED WORKERS, UNEMPLOYED GRADUATES IN GH WHO DONT KNOW HOW TO THINK. THEY WANT MUNDANE JOBS.
  PRES. MAHAMA UPGRADE YOUR INVESTMENT PROMOTION AGENCY OFFICES IN EACH REGION IN GH. THESE IPA'S WILL SERVE AS marketing agencies to try and go out and attract higher skilled,
  more sophisticated investors AND BRING THEM INTO GH. SEND GOVT REPS FROM THESE IPA OFFICES TO THESE CORPORATE HEADQUARTERS AND POUND ON THEIR DOORS. DONT WASTE THE NATION'S RESOURCES BY GOING
  ON CNN...THATS A WASTE OF MONEY! WE NEED FACTORIES IN GH. INTEL, CAR MANUFACTURING COMPANIES, ETC ARE ALL AVAILABLE. WE ALREADY HAVE TNS OF NATURAL RESOURCES IN GH!
  IN MY BOOK, YOU EITHER DO IT RIGHT. OR YOU GET ELIMINATED.
  TOO MANY GH PPL LACK SELF CONFIDENCE AND DONT BELIEVE IN WHO THEY ARE. THEN AGAIN, U CANT BLAME THEM. LOOK AT THEIR SURROUNDINGS..OPEN GUTTERS, MALARIA, FILTH, DIRT EVERYWHERE!
  6.I AM 37 YRS OLD. WE HAVE BEEN DEALING WITH MALARIA SINCE THE DAY I WAS BORN. STILL HAVNT FOUND AN ANTIDOTE. WHY?
  THE SOLUTION: BUILD BETTER DRAINAGE SYSTEMS AND COVER THE OPEN GUTTERS! IS THIS ROCKET SCIENCE?
  WE HAVE NO BASIC PLANNING IN GH TO AID TAXATION, NO ADDRESS SYSTEM TO CHECK CRIMINAL ACITIVITY. TOO MANY UNLICENSED BUSINESSPPL SELLING FOOD NEXT TO FILTH, I MEAN ITS A SHAME...ITS A SHAME.
  SINCE THE DAYS OF METHUSELAH, WE HAVE BEEN WASTING MILLIONS ON MALARIA, WHY?
  WAT WILL IT TAKE TO DEVELOP MODERN DRAINAGE SYSTEMS, CLOSED GUTTERS?
  7.LOOK AT BRASIL? THEY HAVE CLAIMED THE MOST WCUPS IN HISTORY BCOS THEY INVESTED IN QUALITY SOCCER INFRSTRUCTURE, STADIUMS ETC.
  GO TO ALL OUR GOVT STADIUMS N SEE GARGANTUAN INFRASTRACTURAL DEGRADATION. YOUR SCOREBOARD DOSENT EVEN WORK, BUT U WANT TO GO TO WORLDCUP?
  LOOK AT GH. YOU WANT TO GO TO WCUP, BUT LOOK AT YOUR SOCCER INFRSATRUCTURE? IS IT FAIR TO THE OTHER NATIONS IN AFRICA WHO HAVE INVESTED IN
  BETTER SOCCER INFRASTRUCTURE, STADIUMS, LEAGUES ETC. TO STAY HOME FOR GH TO QUALIFY AND GO TO BRASIL? BISA WOHO...
  HE WHO CLIMBS A GOOD TREE DESERVES SUPPORT....NOT VICE VERSA.
  8.Now, if you were to open a textbook from years ago, you would have found that natural resources in abundance are a source of growth and wealth for
  developing countries, or so it was supposed.
  If you have oil, if you have diamonds, if you have gold and copper, can't these be used to help develop the country?
  But if you turn to contemporary textbooks, the first chapter is liable to be about the resource curse, meaning that the revenues from foreign
  investment in oil and gas and coal and copper, GOLD, DIAMONDS, COCOA ETC get siphoned off in corruption. billions of dollars are siphoned off every year into THE private SWISS ACCTS
  of these so called DEMOCRATIC LEADERS. WHAT A SHAME! There is a lack of transparency. There is a lack of accountability.
  if you look at Chile, Peru, Indonesia, Malaysia, these are countries that have been very successful in using their rich resources TO DEVELOP THEIR NATION. WHY CANT GHANAIAN GOVTS LEARN FROM THEM?
  9.So the question is, how can resources be used to benefit broad economic and social development and avoid the corruption and authoritarian rule?
  The key issue is always going to be the LOCAL POPULATION, THE LOCAL LEADERSHIP, THE PRESS, NGOs, AND non-governmental authorities, STAKEHOLDERS that try
  to promote openness and transparency. In 2010-2011, Ghana started to export significant quantities of oil.
  Is this going to be the best thing that ever happened to Ghana or the worst thing that ever happened to Ghana?
  10.The phenomenon called "Dutch Disease" is also part of the resource curse. THIS means that the exchange rate for the currency of
  resource-rich countries becomes overvalued, and this hurts the exports of other industries.
  WHAT THIS NDC GOVT IS DOING IS THIS. THEY HAVE INTENTIONALLY DEVALUED THE CURRENCY, SO FOREIGNERS CAN BUY MORE OIL FOR EXPORT, RESOURCES. THE MORE PURCHASES, MEANS MORE MONEY FOR MAHAMA N HIS CRONIES. GH GOVT THEN STEAL THE MONIES INTO THEIR PRIVATE, FOREIGN
  BANK ACCOUNTS. REALLY? IM READY TO START KILLING SOME OF THESE MINISTERS, MPS ETC ASAP!......
  11.Ghana is NOW like Haiti!!! There was only one airport in Haiti and when the disaster strucked,aid donors HAD it so hard to send humanitarian reliefs because the only one international airport
  was destroyed. just imaginING if Ghana is not the same as Haiti??!! Building one international airport in TAMALE/Kumasi has turnED into tribal politics!!#
  12.President John Dramani Mahama has added a whopping GHc15.6 BILLION DOLLARS to Ghana’s total public debt stock since being sworn into office as caretaker and substantive president within the period from July 2012 to August 2013.
  This implies that President John Mahama has contracted a total of GHc15.6 BILLION DOLLARS of debt for Ghanaians since becoming the President of Ghana.
  WHAT DO WE HAVE TO SHOW FOR ALL THIS DEBT? LOOK AT GH? SMELLY, DUSTY...OPEN GUTTERS I MEAN WHY? HOW? WHO VOTED FOR NDC? GO N CLAIM YOUR SHARE....NDC AND NPP ARE BOTH CORRUPT, BUT YOU DONT NEED
  A PHD TO TELL THE DIFFERENCE BETWEEN THE 2 MAIN POLITICAL PARTIES IN GH. NPP AT VERY LEAST WILL INNOVATE AND INSTITIUTE PUBLIC SECTOR REFORM, RULE OF LAW, POLICIES FOR ALL...
  LIKE NHIS, OIL DISCOVERY, SCH FEEDING, FREE SCH UNIFORMS, AFCON 2008, REHAB AIRPORTS AND STADIUMS, FREE MATERNTY CARE ETC.
  THE NDC IS JUST WORSE. THEY R SIMPLY GOOD FOR NOTHING SO WHY PPL QUEUE FOR HOURS TO VOTE FOR SUCH A PARTY BEATS ME.
  13.WHEN RICH WESTERN NATIONS ARE PAYING DOWN THEIR DEBTS/NATIONAL DEFICITS. WAT IS GH DOING, U ASK? DOING THE OPPOSITE AND BORROWING MORE MONEY. WAA LOOK?
  IF YOUR CURRENT STANDARD OF LIVING IS THIS BAD. HOW BAD WILL THE STANDARD OF LIVING FOR YOUR CHILDEREN AND GRANDCHILDREN BE? THINK ABOUT THIS PPL?.....
  IT WONT BE BETTER, BUT WORSE. IN OTHER PARTS OF THE WORLD, THE STANDARD OF LIVING IS ALWAYS IMPROVING.
  THIS IS NOT ABOUT NPP OR NDC. ghana is under the most useless leadership of all time,nurses are unpaid for six months ,children are dying of heart failures and asiedu nketia is feasting in streatham/CROYDON IN THE UK
  with ghanas money.i pity for those who voted ndc.
  A CLASSIC CASE OF FRENCH QUEEN MARIE ANTOINETTE'S "LET THEM EAT CAKE"STATEMENT....WELL, GUESS WHAT TRIGGERED THE FRENCH REVOLUTION? THIS FOOLISH STATEMENT IS WHAT TRIGGERED THE FRENCH REVOLUTION.
  GHPPL, RISE UP AND CLAIM YOUR SHARE!
  14.Mr Paul Victor Obeng, has made a strong case for the need to ensure that increasing access to the Internet does not lead to the importation of alien cultures.
  “While increasing access to the Internet would improve the socio-economic circumstances, its negative influences call for a concerted effort to counter the bad influence.
  Increasing access should not lead us to the importation of attitudes that are incompatible with our social norms,” he said.
  WAT IS PV'S PROBLEM? WESTERN NATIONS LIKE CANADA, AMERICA, BRITAIN, GERMANY ETC ALL HAVE INTERNET TECHNOLOGY READILY AVAILABLE FOR THEIR CITIZENS. HAS IT IMPACTED THEIR CULTURE NEGATIVELY?
  EVEN BEFORE INTERNET, WE WERE SELLING/THROWING AWAY OUR CULTURE. WAT HAPPENS AT INDEPENDENCE MARCHES IN GH, 6 MARCH. DO WE EVEN POUR LIBATION ANYMORE?
  WE PUT OUR KIDS IN THE BURNING SUN TO BLACKEN N FAINT. KIDS WE CANT EVEN GIVE FREE BASIC EDUCATION TO. WHILES, WE WALLOW IN THE ABJECTIVITY OF THE BIBLE N KORAN....
  FYI: THE BIBLE/KORAN AT ONE POINT IN TIME. CAME TO BE REGARDED AS "TECHNOLOGY" TO HELP SHAPE THE MINDS AND ATTITUDES OF PPL. THIS WAS FOLLOWED BY NEWSPAPERS, RADIO, TV AND NOW THE INTERNET. GH, KETCHUP!
  Alex Mould says the $15,000 winning bonus promised to the Black Stars ahead of Tuesday's crucial world cup qualifier against Egypt, is "just goodwill"
  REALLY? LOOK AT THE DEP[LORABLE STATE OF OUR STADIUMS IN GH? WHY DONT YOU INVEST THE GNPC MONIES IN BUILDING MORE MODERN STADUMS IN ALL THE REGIONS? IS THIS ROCKET SCIENCE?
  GO N CHECK HOW MUCH PLAYERS IN BRASIL, BRITAIN, SPAIN, NAIJA, EGYPT, S AFRICA ARE ALL GETTING? WHATIS THE GDP OF GH THAT WE SHOULD BE GIVING SO MUCH MONEY TO PPL WHO ALREADY HAVE SO MUCH ALREADY?
  YET, GH CLAIMS AID FROM THESE NATIONS. ARE WE STUPID OR BRAIN DEAD?IF WE DOLE OUT MONEY LIKE THIS, WHY WONT WE GO BACK N BEG FOR DONATIONS FROM THESE SENSIBLE NATIONS?
  IN DOLLARS: BRASIL 7,000, EGYPT, 3,500.BRITAIN 6,800.ARGENTINA 9,000. HOLLAND 4,000. IVORY COAST 8,000. SPAIN 8,000. TOGO 2500. CAMEROON 5500. NAIJA 5,000. JAPAN 6,000. EHTIOPIA 2,000. FRANCE 5,500
  USA 7,000. MEXICO 7,800....
  EBEII, USE THE GNPC MONIES TO BUILD BETTER, WORLD CLASS SOCCER STADIUMS IN EACH REGION IN GH. STUPID FOOLS. MIN OF SPORT, GO TO BRASIL N ASK FOR HELP, GYIMIFUO! DO THIS, AND U WILL THEN BE BETTER ABLE
  TO HOST FRIENDLIES, HOST WAFU, AFCON AND EVEN WCUP EVENTS. THIS WILL OPEN GH UP TO MORE GLOBAL INVESTORS TO COME IN. LOOK AT WAT THE WORLD CUP DID FOR S AFRICA, AND NOW BRASIL?
  IF IT WASNT FOR NPP. GH WOULDNT EVEN HAVE THE MINIMUM FACILITIES TO HOST A SMOOTH AFCON. WE WOULD HAVE TO CO HOST..MUAHAHAHAAAAA! EBEI!
  INSTEAD OF INVESTING IN THE SPORT N BUILDING MORE STADIUMS. THEY R BUILDING STADIUMS IN THE BELLYS OF THESE PLAYERS N FA HEADEES? EBEIII! LOOK AT THE BELLY OF AFRIYIE ANKRAH? LIKE METHODIST TEMPLE!
  GAMBIA, CONGRATULATION FOR TAKING A BOLD STEP ON YOUR DECISION TO LEAVE THE COMMONWEALTH. I SALUTE YOU! GH GOVT, DO YOU HAVE THE BALLS TO DO SO?
  SHAME ON OUR USELESS, TOOTHLESS SO CALLED LEADERS, ELDERS, MINISTERS, PRESIDENTS. SHAME ON YOU AND TO YOU ALL WHO HAVE EMBARKED ON STEALING.
  I WISH EARLY DEATH AND A LIFE RIDDLED WITH PAINFUL DISEASES ON ALL OF YOU. YOU KNOW WHO ARE....
  STUPID GOVT LEADERS. BCOS OF YOUR STUPID CORRUPT HABITS, AFRICANS ARE HAVING TO TRAVEL ILLEGALLY TO RACIST NATIONS. MANY HAVING TO DIE OR DROWN IN THE SEA. IS THIS RIGHT?
  WHY ARE YOU SOO FUCKING WICKED, HUH? WHY?....WHERE R THE NDC VOTERS? U ARE JUST AS STUPID AND DUMB AS THE PPL U HVE GIVEN POWER TO RUIN GH. IF I HEAR ANY NDC VOTER COMPLAINING. PLEASE SEND THEM TO NSAWAM!
  AS A NATION WE DONT CUT OUR COAT ACCORDING TO OUR SIZE. WE SPEND MORE THAN WE MAKE. WE NEED TO GROW AND MATURE AS A NATION AND THATS WHY IM SO BLUNT. EVERYTIME I COME ON GHWEB. I LAFF AND CRY.
  LIBRADIO.COM, www.p2p4u.net
  THIS IS BROWN BROWN BROTHERS, AND I APPROVE THIS MESSAGE!

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• Ship Dealer 10 years ago

  OH !!!! MY COUNTRY GHANA.WHAT'S RELLY
  GONIG ON.

  OH !!!! MY COUNTRY GHANA.WHAT'S RELLY
  GONIG ON.

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• Meledzi Obourtabiri 10 years ago

  Local manufacturing is key to stop this deterioration and constant slide of the cedis as a worthless currency.
  We also have to make sure we enact laws that will obliged foreign companies mining in Ghana to retain at least 5 ...
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  Local manufacturing is key to stop this deterioration and constant slide of the cedis as a worthless currency.
  We also have to make sure we enact laws that will obliged foreign companies mining in Ghana to retain at least 50+ of it's revenue in our central bank to shore-up our foreign reserves and buoy our ailing local currency the cedi.

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• KOKO 10 years ago

  SOONER LEADERS OF THIS COUNTRY REALISED HOW IMPORTANT IT IS TO ADDED VALUE TO RAW MATERIAL SHIPPING THE BETTER THIS NATION WILL BE AND AGAIN IMPORTATION OF RICE, TOOTHPICKS AND ALL OTHER PRODUCTS WILL REDUCE THE STRAIN ON THE ...
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  SOONER LEADERS OF THIS COUNTRY REALISED HOW IMPORTANT IT IS TO ADDED VALUE TO RAW MATERIAL SHIPPING THE BETTER THIS NATION WILL BE AND AGAIN IMPORTATION OF RICE, TOOTHPICKS AND ALL OTHER PRODUCTS WILL REDUCE THE STRAIN ON THE CEDI

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• Nijaboy 10 years ago

  I remember when I visited Ghana shortly before the last AFCON Ghana hosted, the Cedis was changed at Kotoka at $1:0.95 pesewas. It is really strange that the GHc is now $1:2.7GHc. I don't know why African currencies are not d ...
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  I remember when I visited Ghana shortly before the last AFCON Ghana hosted, the Cedis was changed at Kotoka at $1:0.95 pesewas. It is really strange that the GHc is now $1:2.7GHc. I don't know why African currencies are not doing well. I however know that bad leaderships across African have weakened our currencies.

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