Home Business Butchers Association urges gov’t to redeem the Cedi

Butchers Association urges gov’t to redeem the Cedi

U.S Dollars and Ghana Cedi
U.S Dollars and Ghana Cedi

The Butchers Association in the Sekondi -Takoradi Metropolitan area, have added their voice to the call on the Government to redeem the Ghanaian cedi from its constant depreciation to major foreign trading currencies.

The Association, which relied heavily on Niger, Mali, and Burkina Faso for animals for the Ghanaian market complained about the hikes in CFA Franc against the cedi and the trade burden it posed.

Mr Anaba Mohammed, the Takoradi Butchers Association Chairman, told the Ghana News Agency that currently, an individual needed some 15,000 cedis for an equivalent of one million CFA while, as in most recent past the same15,000 cedis could give one almost Two million CFA.

He said the trade in foreign currency did not only affect the use of dollars but also traders dealing in CFA and called for urgent steps to save the cedi.

The Association noted how the livestock industry was not able to produce enough for local consumption, hence their reliance on Niger, Burkina Faso, and Mali for their animals.

“Prices continue to be unstable due to the falling cedi and foreign exchange hikes…our members continue to incur debts between GHS800 and GHC1000 on their sales on a daily basis,” the Lead Butcher lamented.

Mr Atia Atinga, a butcher, while commending the city authorities for a decent place to play their trade, noted their frustrations and the daily hurdles they go through to sustain their livelihoods, and called for support from the government.

Mr Abdul Moro, a Cattle dealer also lamented how the soaring CFA rate was affecting the turn-around time for their businesses.

He indicated that due to losses incurred by the butchers, many of them had not been able to pay for the supplies.

Mr Moro said, ” I supply Accra, Kumasi and Takoradi…I have been here in Takoradi for the past one month and I am not getting my monies due to the falling cedi and sellers’ inability to make ends meet…we plead with the government to also turn attention to the CFA and not the dollar alone.”

Meanwhile, some traders in the “black market business” and general merchandise have noted with serious concern the need for state actors to devise pragmatic means to redeem the economy from the current tantrums.

Mr Eliasu Rahaman, forex dealer prayed the Bank of Ghana to expend more forex into the system to avert the seeming economic ditch.

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