Locking up your shops won’t change anything – traders told
Mr Joe Jackson, Director of Business Operations at Dalex Finance does not believe the closure of shops by angry members of the Ghana Union Traders Association will have the desired impact and get a rapid response from the government.
Mincing no words in his response to GUTA’s move during a discussion on TV3 on 19th October 2022, Mr Jackson said “unfortunately I do not think the closure of shops by GUTA will put enough pressure on the government as it will not make any difference to the depreciation of the cedi”.
The experienced business executive in analyzing the situation further stated that “they are adding to the depreciation of the Cedi if they stop demanding some currencies and fund alternatively locally to export things will change but I don’t think they closing their shops will make any difference in putting pressure on the government or impacting the cedi as the major problem of currency now is the less confidence in it”.
Mr Jackson’s opinion was in response to the threat carried out by the Ghana Union Traders Association by locking most of their shops in the Central Business District in Accra despite a plea from the Council of State.
The group’s demand is for the government to as a matter of urgency do something about the ailing economy as they complain that their business capitals are dwindling. The Accra traders, just like their counterparts at Kumasi in the Ashanti region also demand a proper tax regime.
