Veteran Ghanaian music producer and social critic, Panji Anoff, has reignited debate over Ghana’s 2007 cedi redenomination, branding the exercise as a “scam” during an exclusive interview on broadcaster Kafui Dey’s YouTube channel.
Panji, known for his bold views on national issues, argued that the redenomination introduced under the administration of former President John Agyekum Kufuor did little to strengthen the cedi or improve the economy. Instead, he claimed, the policy only confused ordinary Ghanaians and created avenues for exploitation.
“The redenomination was a scam,” Panji declared. “It didn’t solve the structural problems of the cedi. All it did was change how we counted money, but it made life harder for ordinary people.”
The redenomination exercise, which saw four zeros removed from the old currency, was justified by the government at the time as a means to simplify transactions, restore confidence in the cedi, and align Ghana with international financial systems. However, more than a decade later, critics like Panji argue that the initiative failed to achieve its long-term goals.
In the interview, Panji also touched on broader economic concerns, stressing that Ghana’s leadership should prioritize policies that address productivity, industrial growth, and corruption rather than cosmetic changes.
His comments have since sparked reactions online, with some viewers agreeing that the redenomination only masked deeper economic weaknesses, while others defended the move as a necessary step in modernizing Ghana’s financial system.
The full conversation is available on Kafui Dey’s YouTube channel, where Panji delves deeper into the intersection of economics, governance, and the everyday struggles of Ghanaians.
