Traders in Kotokuraba urge government to tackle currency depreciation

Economy Traders Price Hikes
Economy Traders Price Hikes

Traders at the historic Kotokoraba Central Business District in the Cape Coast Metropolis have called on the government to tighten up policy interventions to curtail the rampant increase in prices of goods and services across the country.

According to them, prices of items largely, consumable goods were rapidly gliding thereby, affecting their capital and the disposable income of consumers.

In separate interviews with the Ghana News Agency (GNA) the traders indicated that the suffering of the people and businesses in this time of economic downturn was real, and an indication for all to accept that “we cannot continue business as usual.”

Madam Esi Manu, a foodstuff seller sold an ‘olonka’ of gari between GH¢20 and GH¢25 while a tuber of yam was sold between GH¢15 and GH¢25.

“The increase in fuel prices and depreciation of the cedi against the dollar is our bane.
“We know the government is doing its best but it must double efforts and be innovative to find lasting solutions that work to ease the financial stress driving traders into debts,” she pleaded.

A dealer in grains and cereals, Madam Adwoa Comfort, said prices of her wares had increased tremendously, stating that a bowl of maize was now GH¢42 while a bowl of millet is GH¢18 as against GH¢12.00 and GH 9.00 respectively some few weeks back.

Also, a bag of millet was sold between GH¢700 to GH¢780, while a crate of eggs ranged from GH¢30.00 to GH¢40.00 with three going for GH¢6.00.

She said her business was on the verge of collapse because her capital had been eroded by the turn of events.
An onion seller, Madam Selina Mensah, expressed similar sentiments as the prices of onions ranged between GH¢15.00 a small bowl and GH¢35.00 depending on the sizes.

The GNA observed that the price of a bag of cassava dough was sold between GH¢700 and GH¢790 depending on the size of the bag while corn dough was between GH¢850 to 900.

Beans used to be GH¢5 and GH¢7 but were sold at GH¢10 and GH¢12 depending on the quality of the beans.
The margarine cup of fresh groundnuts was GH¢6 cedis and above.

The GNA also observed at the market that, although one could witness brisk activities, the traders complained that business was not good.

Largely, the traders were hopeful that as the season approached business would pick up to make a lot more sales.
Also at the market, lots of traders who hitherto did not sell in the market were seen roaming about with their wares with the hope of cashing in.

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