Ghanaian rapper, M.anifest has opened up on the adverse effects of the country’s economic situation on artistes and the entertainment business as he describes the period as a paradox.
The past few months have seen the country’s cedi depreciate inappropriately against the major trading currencies in the world making it one of the worst-performing currencies in the world.
Being largely an import-driven country, the battered Ghana cedi heavily impacted the inflation rate and exacerbated the cost of living and drastically increased the operational costs of business across board.
However, the past few days have seen some value improvement in the Ghanaian cedi. As of Friday, December 16, the average interbank rates used by the commercial banks for transactions and published by the Bank of Ghana saw the local currency advertised at GH¢7.99 (buying) and GH¢8.0 (selling) for one US dollar for instance.
In an interview with Y107.9 FM’s Akosua Hanson on Y Lounge, M.anifest indicated that despite the latest development on the value of the cedi, it has barely impacted the local economy as prices of goods remain at a high cost.
Sharing some cues to fellow artistes on how to navigate the latest trend to continue with their music businesses, he charged them to remain vigilant and be intentional as he believes that despite the challenges, some opportunities may be available to hop on.
“It is an intriguing time but you know when you open your eyes, your heart and move intentionally. You might be surprised,” he noted.
“So, I think it’s a time of possibility but also a time of difficulty. It’s a great big paradox we are in. Possibility and difficulties are now bed fellows. So you have to figure out which way you’re smooching it,” he said hilariously.
While at it, do well to stream “The E.P.ilogue”.
By: Jude Tackie
