To protest the ongoing devaluation of the Ghana Cedi, members of the Ghana Union of Traders’ Associations (GUTA) have announced the closure of all their businesses on Monday, August 29.
According to them, the rapid depreciation of the Cedi is affecting their businesses negatively, which is why they decided to hold the protest.
Addressing a press conference on Monday, the President of the Association, Dr. Joseph Obeng emphasised how the worsening state of the Cedi has eroded the gains of businesses after the COVID-19 pandemic and the shocks from the Russia-Ukraine war.
He consequently urged the government to give the commercial community top priority as GUTA gets ready to launch its protest on August 29.
“By the dictates of the trading community, we declare the closure of shops in Accra, on Monday, 29th August 2022, to officially demonstrate these concerns to the government”, Dr. Obeng said.
The Cedi recently experienced a sharp decline after being linked at 10 Cedis to the US dollar, which prompted GUTA to announce its upcoming protest.
The planned protest by GUTA comes in the wake of a recently acute fall in the Cedi after it was pegged at 10 Cedis to the US dollar.
According to some populace, the country’s declining currency will further exacerbate the severe hardship that has already which have already plagued Ghanaians.
GUTA also shares in these sentiments, with the view that if the government does not roll out measures to immediately address the fast depreciating Cedi, the situation may become worse.
However, the government has given Ghanaians assurances that it is prepared to confront the current problem and improve the state of the economy.
