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Cedi now the weakest African currency as it depreciates the worst

The Ghana cedi has lost its value since January 1, 2022 to February, 25, 2022 as it has depreciated by about 7.6% to the dollar and is now the worst-performing currency in Africa.

Previous records shows that the Zambian Kwacha was the worst currency in Africa but apparently the Ghana Cedi has taken over since last two weeks ago.

The two sides, Ghana and Zambia are on a diplomatic struggle to stand their currencies on their foot to be able to settle their escalating debts as well as revenue mobilisation and expenditure management.

This affirms some economists and analysts’ assertion that all concerns regarding the Electronic Transaction Levy must be addressed and passed immediately by Parliament to prevent the Cedi depreciation fom affecting the budget of most corporate institutions as well as reducing the disposable income of consumers.

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