Togbe Afede XIV, the head of Asogli State, criticized the Bank of Ghana for its pivotal involvement in the deteriorating situation of Ghana’s economy.
In an article titled “Bank of Ghana has failed us,” the reputable financial analyst said that there was no reason for the central bank to take responsibility for the current economic situation, drawing comparisons to the significant inflation and currency depreciation crisis that struck in 2022–2023.
The Ghana we have today is obviously not what our founding fathers dreamt of. We have failed woefully but have pretended otherwise. Instead of giving hope, our leaders have created a frightening sense of helplessness among the populace, especially the youth,” he stated in part.
Togbe Afede maintained that the economy was in ruins and that, despite the possibility of improvement, it would require a great deal of dedication from all parties involved.
We are victims of predatory economics, where policies or decisions were presented to us well-packaged, only for us to realise during implementation that they were designed to benefit a privileged few, as we saw with some of the COVID-19 initiatives and in the ill-fated award of Electricity Company of Ghana to PDS Ghana Ltd.
We are also victims of a constitution that protects even our worst leaders. The result is the annoying and arrogant display of “conspicuous consumption” by our leaders and their cronies.“I hold the view that poverty is not God’s desire for man. So, I remain optimistic that we can turn our fortunes around and make a paradise out of our beautiful country, maximise the welfare and happiness of every Ghanaian, so that we can enjoy genuine sustainable peace and unity and make it unnecessary for the youth to embark on hazardous journeys in search for greener pastures,” he added
Togbe Afede maintained that the economy was in ruins and that, despite the possibility of improvement, it would require a great deal of dedication from all parties involved.
