NPP’s Owusu Bempah expresses surprise at NDC’s economic management, jabs Bawumia [Video]

Ernest Owusu Bempah, the Deputy National Communications Director for the New Patriotic Party (NPP), has expressed an unexpected commendation for the current National Democratic Congress (NDC) government's economic performance.

In an interview on Net 2 TV this week, Mr. Owusu Bempah notably praised the NDC's effective management of the economy, particularly its success in stabilising the Ghanaian cedi.

His remarks also contained a subtle critique of the previous administration's handling of the economy, seemingly directed at former Vice President Dr. Mahamudu Bawumia. Mr. Owusu Bempah highlighted the primary concern of the business community, stating, “All Ghanaians wanted to see was the appreciation of the cedi and that is what majority of business people wanted.”

He further underscored his approval of the NDC's approach, adding, “They know how to manage the cedi.” This acknowledgement from a prominent figure within the opposition party suggests a surprising shift in public commentary on the government's economic strategies.

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The cedi has shown significant appreciation against major international currencies, particularly the US Dollar, in recent months. For instance, reports indicate the cedi strengthened from around GH¢15.53 to the dollar in March 2025 to approximately GH¢13.09 by mid-May 2025. This turnaround follows a period of notable depreciation under the previous NPP administration, with the cedi ending 2024 at around GH¢14.70 to the dollar, and experiencing a 28% depreciation against the USD in 2024 alone.

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The NDC government attributes this stabilisation to a combination of factors, including prudent fiscal management, renewed investor confidence following the Eurobond debt rework in late 2024, and strategic foreign exchange inflows, notably from the operations of the Ghana Gold Board. This improved currency performance has a direct bearing on crucial services and the cost of living.

A stronger cedi means a reduction in the cost of imported goods, raw materials, and petroleum products, which in turn can lead to lower prices for consumers and reduced production costs for businesses. For example, transport fares have already seen reductions.

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Furthermore, utility tariffs, particularly electricity pricing, which are often benchmarked against exchange rates, could also see downward pressure, easing the burden on households and businesses alike.