Large numbers of Ghanaian traders shut down shops over rising cost

A large number of traders in Ghana temporarily shut down their shops Wednesday, calling for the government to deal with the rising cost of doing business in the country.

Most of the traders were members of the Ghana Union of Traders Association (GUTA), which has been voicing strong dissatisfaction over the depreciating local currency and surging inflation over recent days.

In Abossey Okai, a town in the suburb of Accra, the capital of Ghana, where there is a large automobile parts market, many of the shops stood closed, which frustrated Abdul Seidu, a 35-year-old mechanic.

“The shutting down of the shops today by the traders is going to affect me. I cannot work because I am unable to get the parts I need. The government must as quickly as possible resolve the issue,” he said.

“As the local currency is depreciating, we are losing no matter the amount of money we pump into our businesses. We want the government to intervene to resolve this crisis,” said Kojo Acheampong, a Ghanaian trader.

Neither the Ghanaian government nor GUTA have given a specific number of traders who are engaged in the move yet. Police personnel was seen in some of the streets to maintain order.

Ghana has been plagued by continuing currency deprecation and soaring inflation over months, which put mounting pressure on citizens’ living costs.

The country started negotiations with the International Monetary Fund in July, seeking support for its economic revitalization.

Source: newsghana.com.gh