The Ghana Union of Traders Association (GUTA) has expressed fears over an imminent collapse of local businesses due to cedi depreciation and other market challenges.
GUTA has threatened to demonstrate against the government complaining that, "businesses have reached a situation where their survival is seriously threatened . . . we are calling on the government, as a matter of urgency, to reconvene the Foreign Exchange Committee that was set up a few years agon by the Finance Ministry which involved all relevant stakeholders, to help find an immediate solution".
The President of GUTA, Dr. Joseph Obeng, in an interview stated "the exarcerbating tension that is coming from the trading Committee is huge . . . they believe that if nothing is done about their businesses, their businesses are going to collapse in perpetuity so they are calling for a serious deomnstration".
With the Traders Association raising red flag over the local market, Ghana continues to import.
The panel on 'Kokrokoo' morning show on Peace FM were thrown into a state of shock finding out from a texter that the country imports newspapers, despite having local newspaper corporations and lots of newspapers in circulation at media organizations and offices.
"We import old newspapers with our dollar. Go to La Paz right now; there's a 40-footer container offloading old newspapers," host of 'Kokrokoo', Kwami Sefa Kayi read.
It is further disclosed that the old newspapers are used to wrap goods and also for manufacturing egg crates.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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Boy well put. Some of these panelists (academic Doctors and Professors) are always giving their ‘expert’ opinions on issues that have bedeviled Ama Ghana for decades as if those issues emerged only yesterday. They are just scaremongers who are paid handsomely just to paint to spread doom and gloom in Ghana. Tut tut.
Where have these gutless wonders panelists been all these years? I remember back in the late 80s, I recall seeing "Kofi Brokeman" sellers using cut pieces of foreign newspapers to wrap the stuff. Where did they think these came from and what currency was used in the exchange. Same Abossey Okai folks who have been importing forever, cry to high heaven when they face competition from our neighbor but would not transition into export and/or import substitution ventures; to also generate forex. Let's look in the mirror, we have become so pliant anything goes, now the chickens are coming home to roost and we are doing what we do best, point fingers.