Ashok Mohinani

The Association of Ghana Industries (AGI) is calling on the managers of the Ghanaian economy to address issues confronting the fast depreciation of the Ghana cedi to the US dollar and other major foreign currencies.

According to the association, the high cost of inputs is killing most local manufacturing industries in the country.

It therefore wants government to act fast before some industries collapse.

Speaking to Joy Business at the “AGI BUSINESS FORUM”, Vice President in charge of Large Manufacturing, Ashok Mohinani, said the cost of inputs is affecting the sustainability of the local manufacturing industries.

He bemoaned how authorities are not communicating with Ghanaians on the cause of the fast depreciation of the Ghana ced and the way forward.

“At the moment, there is quite lot of speculations and the biggest issue is the currency and we are nearly hitting ¢15. I think more communication will be very helpful”.

“Most inputs cost have gone up and the factories are facing issues of sustainability on whether they can survive. But if the government and others will communicate, I think that will calm nerves”, he said.

The Ghana cedi continue to fall and now is presently selling at ¢14.75 to one US dollar.

The government is presently negotiating an economic programme with the International Monetary Fund (IMF) that is expected address the imbalances in the Ghanaian economy.

It is unclear when the dal will be completed.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.