‘Sick Cedi, Erratic Power Supply Killing Businesses’

Tonyi Senaya – CEO, Horseman Shoes
Chief Executive Officer (CEO) of Horseman Shoes, Tonyi Senaya has stated that the depreciation of the cedi against major foreign currencies is affecting the growth of local businesses in Ghana.

He consequently called on the government to help restore the local currency.

The Ghana Cedi has been struggling against major currencies, especially the US Dollar over the last few months with inflation standing at 15.3% as of July this year.

The brain behind Horseman Shoes, Ghana’s authentic hand-crafted footwear company, told Accra-based Starr FM on Tuesday that local companies were struggling to survive and compete with their international counterparts.

He also mentioned that the erratic power supply in the West African country was collapsing their businesses, adding that they spend a lot to purchase fuel to run standby generators.

The future looks bright for Ghanaian businesses, despite the current challenges, Senaya said.

He said Ghanaians can only support the ‘Buy Made-in-Ghana’ campaign if local firms provide value for money.’

Senaya, who recently opened his Accra showroom and retail outlet at Kokomlemle, said he was focused on producing world-class products to give the Ghanaian consumers value for their money.

(Pix saved as Tonyi Senaya, Horseman Shoes CEO in bus)

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