GUTA appeals to Bawumia to address Cedi depreciation and business challenges

The Ghana Union of Traders (GUTA) has urged Vice President Dr. Mahamadu Bawumia to find a pragmatic solution to the depreciation of the Ghana Cedi against foreign currencies, particularly the American dollar.

Mr. Anthony Joseph, the Ashanti Regional Chairman of GUTA, expressed concerns that the depreciation of the Cedi is not only eroding their capital but also leading to the collapse of their businesses.

He made these remarks during a meeting with the Vice President at Suame Magazine, part of Dr. Bawumia’s three-day tour of the Ashanti region.

Mr. Joseph emphasized the need for the government to implement practical measures to stabilize the dollar to mitigate its adverse effects on their businesses.

He also appealed to Dr. Bawumia, who is also the flagbearer of the New Patriotic Party (NPP), to address the issue of high import duties at the ports.

Additionally, Mr. Joseph highlighted the harassment faced by traders from the Ghana Revenue Authority’s (GRA) task force while transporting goods to Kumasi after clearing them from the port, seeking the Vice President’s intervention.

In response, Vice President Bawumia promised to address the GRA task force harassment and assured that measures have been put in place to create a conducive trading environment for importers and other businesses, should he be given the mandate in the December elections.