Cedi Fall: Arrest the dollar or face our wrath – Ghanaian traders to Akufo-Addo

President Nana Akufo Addo of Ghana
President Nana Akufo Addo of Ghana | Photo: Getty Images

The Ghana Federation of Traders has issued a stern ultimatum to the government, demanding immediate measures to reduce the exchange rate from GH¢15 to GH¢10.

The federation, comprising eight groups, argues that the rapid depreciation of the cedi is severely depleting their capital and endangering their businesses.

Eric Kwaku Boateng, the Chairman of the Ghana Federation of Traders and President of the Automobile Dealers Union warned that if the government fails to respond promptly within the next two weeks, the federation will organise a nationwide protest.

“Ghanaian businesses have collapsed, and I am a victim… The dollar is making things difficult for us as a business community. The dollar is under people’s houses and that is why we can’t get the dollar to operate.

“Now three years down the line, I have imported only three containers. What we, the traders are telling the world, our leaders, and the Ghanaian community as a whole, a lot of unions are coming out to join to demonstrate.

“We are pleading, urging our president and the vice president that in two weeks, as we said, if we don’t hear anything from them about the dollar from GH15 to GH10…we will let the world hear about us again. Tinubu of Nigeria has done it and we know they can also do it”, Boateng warned.


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