Cost of goods and services are likely to go up if the outbreak of the coronavirus is not contained.
For instance, spare parts dealers at Abbosey Okai tell TV3’s Grace Hammoah Asare, they are running out of goods, and will be compelled to increase prices between 5 and 10 percent.
China’s isolation amidst the coronavirus outbreak is having a rippling effect, across the world.
The vital economy is seemingly being cut off from its trading partners, and Ghana is no exception.
Abbosey Okai is the hub of spare parts of Accra.
Most dealers get their goods from China, Korea and some other countries, which have recorded cases of coronavirus
Kwadwo Yeboah, a dealer says “we are not able to go to Korea or China because of the virus, and our colleagues who are there are not able to return. Our goods are locked up”
Some dealers have resorted to prayers to be in business.
“You are not sure, what you are coming back with, whether the virus or your goods, so it's better we stay and wait in prayer, whilst our containers get stuck, Anthony Gyasi, added.
National organizer of GUTA, Clement Boateng reiterated that a prolonged outbreak of the virus can lead to price increases.
“Because of the virus, most factories have been shut down, including the ones who get our goods from. If the Chinese government is not able to contain this in the next one to two months, we will have be running out of goods and the little that we have, I am afraid, we will have no option than to increase the prices, between 5-10 percent. It’s a thing of demand and supply”, he explained.
He appealed to government and other stakeholders to ensure adequate measures are fashioned out.
“We are continuously engaging our members to as much as possible, do business online and practice proper personal hygiene so that they are protected”,
Total coronavirus cases have reached 89,000 worldwide, with more than 3,000 deaths.
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