{"id":1188319,"date":"2022-08-23T21:38:24","date_gmt":"2022-08-23T21:38:24","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/08\/23\/we-are-facing-problems-with-our-businesses-butchers-lament-cedi-depreciation\/"},"modified":"2022-08-23T21:38:24","modified_gmt":"2022-08-23T21:38:24","slug":"we-are-facing-problems-with-our-businesses-butchers-lament-cedi-depreciation","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/08\/23\/we-are-facing-problems-with-our-businesses-butchers-lament-cedi-depreciation\/","title":{"rendered":"&#8216;We are facing problems with our businesses&#8217; &#8211; Butchers lament cedi depreciation"},"content":{"rendered":"<p><\/p>\n<div id=\"article-text\" style=\"line-height: 2; letter-spacing: -0.5px;font-size: 18px;\">\n<p>                        <!--p class=\"ky_saved_articles_link\"><span class=\"ky_saved_articles_hide\"><img decoding=\"async\" src=\"\" class=\"ky_saved_articles_img\" alt=\"'We are facing problems with our businesses' - Butchers lament cedi depreciation\" title=\"'We are facing problems with our businesses' - Butchers lament cedi depreciation\"><\/span> Bookmark<\/p-->\n<p>Butchers at the Mallam Attah Market have lamented the depreciating value of the cedi.<\/p>\n<p>This follows the Cedi\u2019s recent sharp decline after it was pegged at 10 Cedis to the US dollar.<\/p>\n<p>The butchers complained to<strong> JoyNews\u2019<\/strong> Evans Mensah on Tuesday that the current challenges with the depreciating cedi have been crippling their businesses and increasing the cost of importing livestock from Burkina Faso and other countries.<\/p>\n<p>\u201cIn Ghana, we don\u2019t have cows. How many cows do we have in Ghana? We import them from Burkina Faso, Niger, Mali and Togo so we change the cedi into CFA franc anytime the CFA rises,\u201d one of the butchers said.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"300\" scrolling=\"no\" frameborder=\"no\" allow=\"autoplay\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https%3A\/\/api.soundcloud.com\/tracks\/1329977215&#038;color=%23ff5500&#038;auto_play=false&#038;hide_related=false&#038;show_comments=true&#038;show_user=true&#038;show_reposts=false&#038;show_teaser=true&#038;visual=true\"><\/iframe><\/p>\n<p>Tuesday\u2019s edition of <strong>PM Express<\/strong> was dubbed \u2018Market Edition\u2019. It focused on the the effects of inflation on trading activities at the Mallam Attah Market. <\/p>\n<p>The butchers called on the Finance Minister, Ken Ofori-Atta to address the depreciating value of the cedi or resign.<\/p>\n<p>\u201cNow if you have 10, 000 Ghana cedis and you are doing business by two months\u2019 time, it will depreciate at about 8,000 or 8,500\u2026 the cedi doesn\u2019t stand at one place that is our main problem,\u201d they noted.<\/p>\n<p>In a related development, members of the Ghana Union of Traders\u2019 Associations (GUTA), say they will close all their shops on Monday, August 29, to demonstrate against the persistent depreciation of the Ghana Cedi.<\/p>\n<p>According to them, the rapid fall of the Cedi is having a negative impact on their businesses, hence their decision to stage the protest.<\/p>\n<p>Addressing a press conference on Monday, the President of the Association, Mr Joseph Obeng stressed that, 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.<\/p>\n<p>He, therefore, called on government to prioritise the trading community as GUTA prepares to embark on its August 29 protest.<\/p>\n<p>\u201cBy the dictates of the trading community, we declare closure of shops in Accra, on Monday, 29th August, 2022, to officially demonstrate these concerns to government\u201d, Mr Obeng said, amidst cheers from other aggrieved members.<\/p>\n<p>                <!-- Post Tags --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Butchers at the Mallam Attah Market have lamented the depreciating value of the cedi. This follows the Cedi\u2019s recent sharp decline after it was pegged at 10 Cedis to the US dollar. The butchers complained to JoyNews\u2019 Evans Mensah on Tuesday that the current challenges with the depreciating cedi have been crippling their businesses and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1188321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[187],"tags":[1999,3435,672,2129,11844,1109,1261],"class_list":["post-1188319","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politics","tag-businesses","tag-butchers","tag-cedi","tag-depreciation","tag-facing","tag-lament","tag-problems"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1188319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1188319"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1188319\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1188319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1188319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1188319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}