The Head of the Business and Economic Bureau of the Ghana Union of Traders Association (GUTA), Mr. Charles Kusi Appiah, has clarified that the Union’s recent statement on pricing was not a directive but a heartfelt appeal to the trading community.
Speaking on Campus Exclusive on May 13, Mr. Appiah urged traders to consider reducing their prices in response to the Ghanaian cedi’s recent appreciation against the U.S. dollar. He believes such action would ease the financial burden on consumers.
“The press release was not a directive; it was an appeal to the trading community. If possible, traders could adjust their prices to give some level of respite to consumers. We are hopeful that as traders recalibrate their pricing strategies, they will heed our appeal and pass the benefits on to the consumer.”
Mr. Appiah also highlighted the positive impact of the cedi’s recent stability on business planning and confidence in the marketplace.
“Whenever there is currency stability, it gives us some level of confidence in projecting the next line of business strategy or investment. Looking at what has happened over the past few weeks, we are happy because traders can now plan ahead without needing extra capital to support their operations.”
He emphasized that a collective effort by traders to align prices with the strengthening cedi would not only ease consumer pressure but also contribute to broader market confidence and economic resilience.
GUTA’s appeal comes at a time when many Ghanaians are grappling with the rising cost of living. A downward adjustment in prices, in line with currency gains, would provide much-needed relief for households and improve overall market sentiment.
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Story by: Gabriel Opoku | univers.ug.edu.gh
Edited by: Wahab Abdul Razak
