Audio By Carbonatix
The Minority has expressed concerns that the current challenges facing the Ghana cedi are far from resolved, warning that the situation is expected to worsen.
With the local currency now trading between GH₵14.50 to GH₵15 to the dollar, traders have indicated that they are passing the increased costs onto consumers, leading to a notable rise in the prices of goods and services.
The free fall of the cedi has caused significant distress among traders nationwide, who are reporting severe impacts on their businesses. Many in the business community are increasingly troubled, with some facing mounting debts. The Food and Beverages Association of Ghana (FBAG) have highlighted that the prevalent business model of selling on credit has exacerbated the problem, as importers struggle to repay their debts.
Watch how $1 reached GH₵15
Just press PLAY
Latest Stories
-
Photos: President Mahama welcomed by President Lukashenko in Belarus
5 seconds -
Ghana touted as a dynamic healthcare & pharmaceutical market in West Africa
1 minute -
A bill into broken ground: Why Ghana’s local governance reform needs more than a new law
11 minutes -
Birim North DCE calls for responsible mining to protect communities and the environment
14 minutes -
Power outage at Adum Central Business area due to transformer fault – ECG
21 minutes -
KNUST, RAIL and Gallaudet University partner to advance inclusive education
21 minutes -
Power outages in parts of Accra and Western Region due to a technical fault – ECG
24 minutes -
Reforming the Bank of Ghana: Why Ghana needs a stronger and more independent Central Bank
32 minutes -
South Africa president Ramaphosa orders migration crackdown amid rising xenophobia fears
33 minutes -
Ghana, South Africa diplomatic collision over xenophobia exposes deep fractures in continental unity
37 minutes -
Accra flooding caused by weak planning and enforcement — Bomfeh
47 minutes -
Ghana rolls out first National Paediatric Imaging Protocol to improve childhood cancer diagnosis
49 minutes -
Monogamous relationships require full commitment, not mood-based decisions — Dr Ayertey
58 minutes -
Firefighters contain two separate fire outbreaks in Accra, no casualties reported
1 hour -
At least 19 dead after major earthquake strikes southern Philippines
1 hour