Ghana’s economy has regressed to the 1970s level – Kenneth Thompson

Kenneth Thompson, former CEO of Dalex Finance, has expressed grave concerns about Ghana’s economic state, describing it as regressive and poorly managed.

Speaking on Joy FM's Super Morning Show on November 19, he highlighted the rising cost of living, a depreciating cedi (now over GHS16 to $1 from GHS4 in 2016), and increasing unemployment among the youth.

He criticized the government for mismanaging private wealth transferred to the state and questioned the lack of transparency regarding the GHS25 billion spent on the financial sector cleanup.

Thompson noted that pensioners are struggling, education costs are unaffordable, and the cedi’s diminished value has worsened poverty. He added that even the affluent feel the impact, with rising depression and anxiety affecting both Ghanaians at home and abroad.