A former presidential staffer in the former John Mahama administration says Vice President Dr Mahamadu Bawumia has fallen from an exaggerated platform of perceived competence. 

Stan Dogbe said the Vice President is “simply not fit for purpose.”

According to the broadcaster, Dr Bawumia has failed to live up to expectations.

In a social media post on Friday, October 14, Mr Dogbe insisted that Dr Bawumia's sole aim for speeches is for “political connections” and not real economics. 

 “Vice President Dr Mahamadu Bawumia has fallen massively from an exaggerated platform of perceived competence to the low level he actually belongs. The man is simply not fit for purpose.

“In fact, the man exposes what is a clear difference between thoughtful competence, grounded in a mastery of analytical prowess and baseless loudness, that is designed only for quick returns,” he said.

Mr Dogbe's disappointment in the Vice President has to do with the continuous depreciation of the Ghanaian Cedi and the downtrodden economy. 

The Ghanaian cedi passed the ¢12 to the dollar mark on Friday, selling at ¢12.10 at most forex bureaux or the retail market.

This development comes within a week after the cedi earlier depreciated against the dollar.

A visit by Joy Business to some forex bureaus indicates that most of the operators are selling the dollar for more than ¢12. They claim the supply of dollars has reduced significantly.

Again, the cedi is losing ground quickly against the pound and euro. Whilst a pound is going for about ¢12.70, one euro is selling at ¢11.10.

Within a week (from October 10 - October 14), the local currency has lost more than 6% value to the dollar. This means the year-to-date depreciation of the cedi is hovering around 46%.

By this rate of depreciation, the working capital of businesses, particularly manufacturers that depend on raw materials from overseas, has gone down by about 46% since January 1, 2022.

Meanwhile, scores of Ghanaians have taken to social media to bemoan the situation; urging government to take urgent steps to address the consistent depreciation of the country’s currency.