Trade Minister Elizabeth Ofosu-Adjare asks traders to cut prices as the Ghana cedi grows stronger. She believes all citizens should benefit from the improved currency value. The government created good conditions for business that helped strengthen the local economy. Traders usually raise prices when the cedi loses value against other currencies. She thinks they should lower costs when things improve.
Ofosu-Adjare spoke on Monday on JoyNews about her request to shopkeepers. She admitted the government cannot force sellers to change their prices, but she hopes traders will pass savings on to customers anyway. The minister said price cuts would show traders care about everyday people, which might encourage officials to keep making helpful economic policies.
The Ghana Union of Traders Associations supports this idea. In a statement dated May 11, GUTA asked members to adjust price tags downward. The group wants to relieve shoppers across the country. Their president, Dr. Joseph Obeng, signed the announcement. Both the government and trader groups agree that the strong cedi should mean better deals for everyone.
Ofosu-Adjare spoke on Monday on JoyNews about her request to shopkeepers. She admitted the government cannot force sellers to change their prices, but she hopes traders will pass savings on to customers anyway. The minister said price cuts would show traders care about everyday people, which might encourage officials to keep making helpful economic policies.
The Ghana Union of Traders Associations supports this idea. In a statement dated May 11, GUTA asked members to adjust price tags downward. The group wants to relieve shoppers across the country. Their president, Dr. Joseph Obeng, signed the announcement. Both the government and trader groups agree that the strong cedi should mean better deals for everyone.
