Some Ghanaian businesses have expressed concern over the current economic situation and how it is impacting businesses in the country.

According to them, factors such as the exchange rate of the cedi, inflation, and levies imposed on imported products are all factors affecting their businesses.

During an interaction with co-hosts of the Super Morning Show, Winston Amoah and Kojo Yankson, on Tuesday, Director of Sales and Marketing at Macland, Anthony Macosby Osei-Bonsu, and Shirley Naa Kowah, a caterer, expressed the fear that their outfits may run out of business if nothing is done about the situation.

Macland is a company that sells computers, laptops, tablets, and software, among others.

“We import the product from the manufacturers abroad, but even though the price in dollar terms is still the same, the exchange rate continues to depreciate. As of March this year, we were buying the dollar close to 9 cedis compared to November when it was 5.9 so we have to spend more cedis to get the dollars so that we can import,” Mr Osei-Bonsu.

He added that this significantly affects their business since they are compelled to increase the prices of the appliances which in turn affects how many products are purchased.

“When we are bringing the things into the country, the levies and the charges at the port are also contributory factors and we are also supposed to sell the product at a VAT rate of 19%. At the end of the day, your profit margin has totally gone and customers continue to complain about the prices of the products. We are really suffering,” he said, expressing the hope that “the economic situation does not completely take us out of business.”

The discussion centered on inflation and how it is impacting businesses.

The other guest on the show, Shirley Naa Kowah, lamented over a dip in her business due to the current economic situation, stressing that most people are no longer patronising her services.

“The economy has affected our business. A lot of people will like to cook at home, they don’t want to contract caterers anymore. I am not losing money, but I am not making much profit as I expected,” she stated.