Traders Close Shops Across The Country To Protest Economic Hardship Under Akufo-Addo

• Shops in major business districts in the capital and other urban areas have been closed
• Shop owners, many of them members of the Ghana Union of Traders Association (GUTA), say the cedi fall is eroding their business capital
• They are hoping that the decision to close shops will push the government to sit up and put in better policies to save the cedi's depreciation against the dollar
• Ghanaians have been hit with a twin problem of cedi depreciation and rampant inflation that has driven up the cost of living

Traders in Ghana have resolved to close their shops across the country for one week to demonstrate their unhappiness with harsh economic conditions.

The traders, all members of the influential Ghana Union of Traders Association (GUTA), say they will only open their shops on Monday, October 24, 2022.

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Among other things, they want the Nana Akufo-Addo government to introduce better policies that will hold the plummeting cedi and the high inflation that has reduced their capital for business.

GUTA members closed their shops on Tuesday, October 18, 2022 despite attempts by government to get the association’s leaders to rescind their decision.

GUTA president Dr Joseph Obeng told the media that the association’s action is to compel the government to act quickly in solving the biting economic challenges.

“It is obvious that we cannot contain these challenges any longer as it is becoming increasingly challenging.

"We want to send a hint to the government to recognise that, there is a sense of urgency in this situation. On this note, by the power vested in me by the trading community, I declare that all shops in the Greater Accra Region be closed tomorrow till Monday,” he said.

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At major markets at the central business districts of regional capitals shops that sell phones, spare parts, consumer products like rice and oil among others have all closed.

Skyrocketing inflation and the depreciation of the cedi against the dollar have driven up cost of living, especially the cost of food.

The poor in Ghana's society have been most affected by the rising inflation and cedi fall because the high cost of living means they spend a huge part of their meagre income on food.

IES Warns About Fuel Shortage As Cedi’s Fall Worsens

Meanwhile, YEN.com.gh has reported in a previous story that fuel stations across the country could soon experience long queues of cars and big containers due to an imminent fuel shortage.

According to energy think tank IES, Ghanaian importers are finding it difficult to get dollars to buy the commodity.

IES has advised the government to proceed with tact in ensuring Ghana's fuel security to prevent a shortage at the pumps.

Source: YEN.com.gh