29. September 2022

Nkrumah’s Common Currency was to prevent depreciation – Kwasi Pratt


The Socialist Movement of Ghana (SMG) has reprimanded the Akufo-Addo government for allowing the depreciation of the Ghanaian Cedi against the major trading currency.

The movement said this is a situation that Dr Nkrumah wanted to avoid when he proposed the establishment of a single currency market for Africa.

According to the Movement, it is laughable for the leaders of Africa to blame the current economic hardship on the Russia-Ukraine war forgetting about their deeds.

The Movement was described as useless by the leaders of Africa when the very Russia they are blaming for the weakening Ghanaian cedi is getting their Rupee currency strong against other foreign trading currencies, particular the US dollar.

Speaking at a public lecture on the occasion of the 113th birthday of Dr Kwame Nkrumah on September 21, 2022, at their head office of the movement at North Dzorwulu in Accra, the General Secretary of the Socialist Movement of Ghana (SMG), Comrade Kwesi Pratt Jnr. said Dr Nkrumah saw through the negative impact of trading in foreign currencies which is why he wanted Africa to have a common currency.

He said Russia has managed to maintain a strong currency amid a war because it decided long ago not to trade in any foreign currency except for theirs.

On the issue of shortages of fertilizer in Africa which is said to be a result of the same Russian-Ukraine war, Comrade Pratt expressed his disgust at the reason when he said Africa with its arable land holds the key to organic fertilizer and does not need fertilizer from war-torn countries.

“We are still nowhere near controlling our resources and exploiting these resources for the benefit of our own people that was the cardinal objective of Dr Kwame Nkrumah,” Mr Pratt said.

Speaking on the theme; “The Myth About the Big Six and the Real Founder’s Day, Comrade Pratt indicated that the father of current President, Nana Akufo-Addo together with other judges jailed Mr Obetsebi Lamptey for terrorism.

This, he explained showed how the supposed other members of the Big Six were agents of imperialism and worked against the liberation of the Ghanaian and Africa’s independence.

He also bemoaned the inclusion of other members of the Big Six such as J. B. Danquah and Edward Akuffo-Addo in the celebration of the Founder’s Day as he was of the view that they had a different vision and ideology in contrast to Dr Kwame Nkrumah.


Post: myrepubliconline.com