A simmering internal feud within the New Patriotic Party (NPP) has erupted into public confrontation after Abetifi MP and former Minister for Food and
A simmering internal feud within the New Patriotic Party (NPP) has erupted into public confrontation after Abetifi MP and former Minister for Food and Agriculture, Dr. Bryan Acheampong, launched a scathing attack on former Vice President Dr. Mahamudu Bawumia, blaming him for the severe currency depreciation and economic challenges that contributed to the NPP’s electoral defeat in 2024.
Speaking during an internal party engagement, Bryan Acheampong accused Dr Mahamudu Bawumia of mismanaging the economy when given the opportunity, stating:
“We gave you a home match by giving you the economy to manage and win elections for yourself, but you moved the dollar from GHS 4 to GHS 17.”
The comment has since triggered fierce backlash from Dr Bawumia’s loyalists, reigniting tensions in a party still grappling with post-election wounds.
A Once-United Front Turns Bitter
In the lead-up to the 2024 general elections, Bryan Acheampong was considered one of Dr Mahamudu Bawumia’s key allies.
As the then-Minister for Food and Agriculture, he worked closely with the former Vice President, who served as the head of the Economic Management Team under President Nana Akufo-Addo administration.
However, relations between the two soured dramatically after the NPP’s shocking defeat to the National Democratic Congress (NDC).
Some supporters of Dr Bawumia accused Bryan Acheampong of sabotaging the campaign by allegedly hoarding government-distributed fertilizers meant for farmers — a claim he strongly denies.
After the Electoral Commission declaration, angry NDC supporters allegedly raided NPP members’ homes after the election to seize and sell the alleged stockpiles.
Acheampong, in response, has accused the Dr Mahamudu Bawumia camp of orchestrating a smear campaign against him, claiming he has been unfairly labeled with “ten sins,” most of which he insists are baseless.
The Dollar Controversy
The most heated exchange, however, has centered on the state of the currency.
Acheampong’s claim that Bawumia “moved the dollar from GHS4 to GHS17” has become a viral talking point, amplified on social media.
Critics within the party, including economists sympathetic to Dr Mahamudu Bawumia, have countered that the statement is misleading and ignores global economic realities.
They argue that the cedi’s sharp depreciation in 2022 was largely triggered by external shocks, particularly the Russia–Ukraine war, which drove up oil prices, disrupted supply chains, and caused record-high inflation globally.
Economist Encounter
Economist George Domfe, a senior lecturer at the University of Ghana, described Acheampong’s remarks as “an oversimplification of complex macroeconomic dynamics.”
He noted that when the NPP assumed power in January 2017, the exchange rate stood at GHS4.20 per dollar.
By January 2021, after the first term of the Akufo-Addo–Bawumia administration, it had risen modestly to GHS5.85, representing a 27% cumulative depreciation — one of the most stable currency periods in recent Ghanaian history.
By early 2022, the rate stood at GHS6.20, with the Bank of Ghana holding $9.9 billion in reserves, enough to sustain market stability.
But global shocks later drained the reserves as the central bank intervened heavily to support the cedi.
At the height of the crisis in October 2022, the dollar traded at GHS15–17 on the forex market.
The currency later rebounded to about GHS8 after international financial assistance and fiscal adjustments.
Who Bears the Blame?
Bryan Acheampong’s critics argue that his narrative unfairly pins the blame for the currency crisis on Dr Mahamudu Bawumia, ignoring the constitutional structure of the executive branch.
Under the 1992 Constitution, the Vice President does not directly manage fiscal policy or the Ministry of Finance.
“The Finance Minister holds that mandate, while the Vice President’s role is largely advisory and coordinating within the Economic Management Team” George Domfe noted.
“Bawumia was not the Finance Minister,” one NPP communicator stated in defense. “He cannot be held solely responsible for the cedi’s movement. Misrepresenting facts to dent your opponent’s image could haunt the party in future elections.”
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