My friends from Ghana, my post is due to my tough love for Africa. No ridicule intended! If you look at the post, I was simply commenting on a World Bank report which noted currency deterioration who’s who in Africa. But let me assure you one thing: the people of Ghana work really hard and your currency actually outperformed my beloved Nigeria, but what you did not get right is how official business is done at N435/$ when the real economy operates at N700/$ (Nigeria patented that in an Abuja shrine).
In other words, if the World Bank had used the real data, Nigeria would have recorded the worst currency in 2022 in Africa. Nigeria does magic there and I am not sure any country has a chance to compete with us therein.
Please no offense – I know how it feels. Yet, grow tough skin – and please do not send me an inmail. This piece is NOT an attack unless we have taken softness to an un-African level.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Comment on LinkedIn Feed
Comment 1: Prof Ndubuisi Ekekwe I believe anyone following your posts with unbiased mind would realize your analysis call out the Nigerian economy more than any other.
That Abuja shrine has out-performed Ghana abracadabra, just imagine the latest revelations with oil theft. How on earth is Nigerian economy still breathing ?
Comment 2: One of the problems with Africans is that we are too emotional and sentimental. This grossly affects our thought processes. We prefer to be lied to than be told the raw truth. Our politicians actually understand this weakness and they have leveraged it to keep us in perpetual hardships over the years. They simply lie to us and we cheer them. You can just see it in play in the Nigerian case in this subject matter. They tell us it’s 400+ instead of the 700+.
The Faded “1 Ghana Cedi = 1 USD” Abracadabra Magic and the Mess in African Currency System
---
Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.