1Rinse the black-eyed peas thoroughly and soak them in water for at least 2 hours or overnight.
Drain the soaked peas and place them in a large pot. Add enough water to cover the peas and bring to a boil.
Reduce the heat and let the peas simmer for about 30 minutes or until they are tender.
Add the rice to the pot with the cooked peas and stir well.
Pour in the vegetable oil and add the chopped onion, cayenne pepper, and salt to taste.
Add enough water to cover the rice and peas mixture by about an inch.
Bring the mixture to a boil, then reduce the heat to low, cover the pot, and let it simmer for about 20-25 minutes or until the rice is cooked and the water is absorbed.
Fluff the waakye with a fork and serve hot.