Ghana are threatening to close their business premises next Monday to protest against the weakening of the country’s currency, the cedi.
At 10 cedis to the US dollar, traders are finding it difficult to stay in business as the cost of importing and clearing goods continues to rise.
The cost of most basic goods and services has doubled over the last couple of months in Ghana, but incomes have not risen for the most part.
The Ghana Union of Traders Associations president, Joseph Obeng, has said increasing interest rates and multiple taxes borne by traders were some of the factors responsible for increase in commodity prices.
In solidarity with the planned demonstration, the Ghana Institute of Freight Forwarders, an umbrella body for clearing agents, says it will also cease operations on Monday.
The government has constantly blamed the Covid-19 pandemic and the recent Russia-Ukraine war as some of the drivers of the harsh economic climate.
