The Ghana cedi has lost its weight against the US dollar, and this according to the Ghana Union of Traders Association (GUTA) has blamed government for partly contributing to the depreciation of the cedi which stands at 3.3% to the dollar.
Speaking on Movement In The Morning Show, the Greater Accra Chairman For GUTA, Nana Kwabena Pepprah said high dollarization is affecting their businesses.
‘’The cedi is always depreciating because every item purchased or service rendered is charged in dollar, from renting a house, a hotel to buying a land. We need to bring this to an end- but we the citizens and unions can’t do it on our own’’.
”When your goods arrive at the port and you don’t go for them on time, by the time you are ready to go for it and if the dollar has shot up, you would pay for the current dollar price before your goods are handed over to you. Our leaders are the only ones who can help us out- we have talked about this on several occasions but to no avail. When you go to south Africa you can’t trade outside their currency”, he added.
Backing the closed down of shops in the Greater Accra Region, Nana Pepprah said that ”the power we have is to close down shops and this is not the first time- we need solutions and we believe this will bring in better solutions”.
He added that GUTA is positive about the outcome of the closed down shops