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Members of the Ghana Union of Traders Association (GUTA) have threatened to close down all their shops on Monday, August 29 2022 to protest the depreciation of the Cedi and the economic hardship.
According to GUTA, their decision is in line with the continuous depreciation of the cedi which has had some effects on their businesses.
They served this notice to the government on Monday, August 22, when the President of the association, Dr. Joseph Obeng was addressing the media at a news conference in Accra.
He said the depreciation of the cedi has eroded the capital of its members and is severely hampering their operations citing the current trade of the one dollar to GH¢10 while inflation is almost at 32%.
He thus urged the government to stretch its hands to all major stakeholders to bring their expertise on board to salvage the economy.
“With the mandate given to the government they can turn the economy, we have given the government the mandate and they have the resources. We believe that with the resources given to the government they can turn the economy around.
“We, the members of the business community, are ever ready to avail ourselves to help the government in its quest in finding solutions to the many challenges. We should not throw our hands in disarray and place the economy on autopilot,” Dr. Obeng added.
