Alan Kyerematen promises economic overhaul, lower exchange rate

The Presidential Candidate of the Movement for Change, Alan Kyerematen, has pledged to stabilize Ghana’s economy and bring the exchange rate below 5 cedis to the dollar if elected in the upcoming 2024 elections.

During his Mega Victory Walk in the Greater Accra Region on Saturday, November 2, 2024, Mr. Kyerematen expressed his alarm over the current economic difficulties facing the nation and called for urgent reforms to tackle inflation and currency challenges.

“The exchange rate is currently almost 1 dollar to 17 cedis, and that is unacceptable,” Mr. Kyerematen noted.

In his address, Mr. Kyerematen identified four major challenges confronting the nation: unemployment, corruption, illegal mining (galamsey), and economic distress.

He proposed the Great Transformational Plan (GTP) as a comprehensive and practical strategy to reverse these trends, emphasizing the need for an agricultural revolution, industrial growth, and tourism development as key pillars for job creation and economic stability.

“Through a robust investment in agriculture and local industries, we will create sustainable employment opportunities, particularly for the youth,” he stated, highlighting the importance of boosting domestic production to alleviate pressure on the cedi and reduce dependence on imports.

Addressing the issue of youth unemployment, Mr. Kyerematen recognized that many young Ghanaians are forced into illegal mining for survival.

He pledged to provide pathways for legal, small-scale mining that would benefit the youth, promising to transfer mining licenses from politicians to young miners.

“I will cease the licenses of those politicians who have been using the youth and give them to the youth to establish small-scale mining companies that they will own,” he said.

He further committed to supplying mining equipment through a work-and-pay model to empower young entrepreneurs in the sector.

Mr. Kyerematen also outlined initiatives aimed at fostering youth entrepreneurship, assuring that his administration would support young people in starting their businesses with funding, training, and access to markets.

“Due to the various youth empowerment policies, it will be difficult for the youth to complete school without securing jobs or self-employment opportunities,” he emphasized, signaling a commitment to significantly reducing youth unemployment.

Mr. Kyerematen promised a government characterized by political inclusivity, stating he would appoint qualified individuals from all political backgrounds.

“In my government, if you are NDC, NPP, or someone who doesn’t do politics but can do the job, I will appoint you to be part of it,” he asserted, stressing that competence would outweigh political affiliation in his administration.

Mr. Kyerematen further guaranteed that job opportunities would be available to all Ghanaians, regardless of their political ties.

“In my government, you don’t need a political party card before you get a job to do. All you need is the Ghana Card,” he stated, aiming to eliminate barriers to employment based on party loyalty.

His proposed policies, focusing on youth empowerment, agricultural investment, and responsible mining, align with his Great Transformational Plan and resonate with a populace yearning for economic relief and a sustainable path forward.

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