Joe Jackson rejects Akufo-Addo’s claim of economic recovery

Joe Jackson, CEO of Dalex Finance and Leasing Company Limited, has taken issue with President Nana Addo Dankwa Akufo-Addo’s claim that Ghana’s economy has returned to pre-COVID-19 levels.

President Akufo-Addo, during his final State of the Nation Address (SONA), cited progress in key sectors as evidence of economic recovery and stability.

In contrast, Jackson described the assertion as overly optimistic and detached from the daily struggles of Ghanaians.

He emphasized that critical economic indicators—such as inflation, currency depreciation, and unemployment—tell a less favorable story.

“I would respectfully beg to differ with the president in that assessment. Some of the current numbers are incredible and the descent has been very rapid after 2022. In the same year, if I gave you a GH¢600, that was $100. If I gave you GH¢6,000, that was a $1,000.

“Today, if I give you the same amount, it is barely $32 or $320 now. About 68% of our purchasing power has been wiped out. How can you say we have returned to pre-COVID? How many people have had their income go up by 68% in the last two years? The figure doesn’t agree with his assertion,” he stated.