Be considerate of your margins – Nana Addo to traders
President Akufo-Addo has made a passionate appeal to traders not to unduly price their products in the face of the current economic challenges in Ghana.
During his much-anticipated speech on how the government is addressing the economic challenges, he urged the traders to keep an eye out for the greater good.
The president also advised the traders to be measured in the profit margins they seek as all Ghanaians are in this economic crisis together. His appeal stems from the recent complaints from market queens about how some traders are slapping high prices on the goods for fear of future price hikes by their distributors which has accounted for the high cost of products.
“I hear from the market queens also that another factor fueling the high prices is the high margins that some traders are slapping on goods, for fear of higher costs. I say to our traders, we are all in this together. Please let us be measured in the margins we seek,” he said during his address on Sunday on the economy.
Though the president admits the strain the traders are going through due to skyrocketing fuel prices and high transport costs affecting their business capital, he still urged the traders to consider their products’ pricing.
“I have great respect and admiration for the ingenuity and hard work of our traders, especially those that take on the distribution of foodstuffs around the country. I would hesitate to join in calling them names. I do make a heartfelt appeal that we all keep an eye out for the greater good, and not try to make the utmost profits out of the current difficulties.”
Distributors were also called upon by President Akufo-Addo to be considerate in the pricing of their products and not to take undue advantage of the citizens in the face of these economic crises the country is experiencing.