Member of Parliament for Assin Central and presidential aspirant-hopeful, Kennedy Ohene Agyapong has declared that the New Patriotic Party lost the 2024 elections in 2022 due to the cedi depreciation.

It could be recalled that between September 2022 and January 2023, the Ghana cedi experienced a massive depreciation as compared to the dollar. The cedi dropped from 7 cedis to 1 dollar to as much as 15 cedis to 1 dollar.

The phenomenon resulted in a chain of reaction where prices of fuel, foodstuffs, and other commodities witnessed a steep hike in prices. The government attributed the situation to the effects of the COVID-19 pandemic as well as the Russia-Ukraine war.

Addressing the crowd at a showdown campaign, Kennedy Agyapong claimed that the NPP has already lost the elections. He attributed the supposed defeat to the cedi depreciation, which destroyed business and depleted the savings of many Ghanaians in the middle class as well as the investments of many pensioners.

“We lost the elections in 2022. The time the Ghana cedi destroyed the hard work of many businessmen, all the way to the tomato seller. Ghanaians will never forget that. The time the middle class went to court because their monies were lost, and the time the pensioners had their monies gone, Ghanaians will remember that,” he stated.

He however reassured the people, telling them he was someone within the NPP who is always looking out for the masses and making sure no such situation happened again.

The New Patriotic Party is currently gearing up to select its official flagbearer who would represent the party for the presidential seat in the 2024 general elections to be held in December 2024.



Kennedy Agyapong is competing against vice-president Mahumudu Bawumia, former Minister for Agriculture Dr Owusu Afriyie Akoto and former MP for Mampong, Francis Addai Nimo.

The NPP is expected to hold its national delegates conference on November 4 to elect its flagbearer for the 2024 general elections.

NPP lost 2024 elections in 2022 because of cedis depreciation. - Hon. Kennedy Agyapong at his showdown campaign.#PulseEvents #Showdown #Kennedy2024 #KennedyAgyapong pic.twitter.com/txrXvDfojY

— Pulse Ghana (@PulseGhana) September 16, 2023