Cedi depreciation: We must own our exports – Joe Jackson

Joe Jackson, Director of Operations at Dalex Finance, has attributed the Ghanaian cedi's depreciation to foreign ownership of exports, which drains resources without reinvestment.

He stressed that Ghana's export earnings exceeded imports but fail to stabilize the currency due to ownership issues.

Comparing Ghana's export retention to countries like Botswana and Nigeria, where over 50% returns, he advocated for joint venture agreements to retain export profits.

Amidst the cedi's weakening against major currencies, he urged Parliament to enforce local content laws and payment of royalties in dollars.

Jackson emphasized the need for Ghana to retain more export earnings to mitigate currency instability.