The Ghana Union of Traders Association (GUTA) believes its scheduled protest over Ghana’s forex challenges will underscore the crisis situation of traders.
Speaking on the Citi Breakfast Show, the President of GUTA, Dr. Joseph Obeng, said a protest would drive home the urgency of the situation.
“We do not govern ourselves, and if something is going against you and destroying your business and all that, then you have to let the authorities know.”
“Most people know that there is a problem in Ghana. The exchange rate is going up, but none of them knows the heat as much as the trader.”
“So if we do not voice our frustration out, if we do not let anybody know the extent to which we are suffering, then there wouldn’t be any sense of urgency; we have a crisis on our hands, and it is not business as usual,” Dr. Obeng said.
The GUTA protest starting on October 19 will see its members in the Greater Region shut their shops.
The traders want something done about the continuous depreciation of the cedi.
The dollar has hit the 11 cedi mark, with industry players predicting a further downgrade of the Ghanaian currency.
GUTA’s protest follows the Adum Business Community in Kumasi closing down shops for five days because of the implementation of tax policies concerning VAT.
The traders in Adum reopened their shops after meeting with government representatives.