Franklin Cudjoe, the President of the policy think tank IMANI Africa has noted that for the first time in Ghana’s recent economic history, the Ghana Union of Traders Association has called on traders to reduce prices.
His comment comes on the back of Dr Joseph Obeng the president of Ghana Union of Traders’ Associations (GUTA) called on the trading community to review and adjust the prices of goods and services.
According to GUTA, prices of goods and services must be reviewed in response to the recent appreciation of the Ghanaian cedi against the US dollar and other major trading currencies.
GUTA asserted that the strengthening of the cedi is a timely and welcome development.
Dr Joseph Obeng in his statement signed stated, “The Ghana Union of Traders’ Associations (GUTA) wishes to appeal to the trading community to adjust prices of goods and services to share the significant gains made by the appreciation of the cedi against the major trading currencies and bring some relief to the consuming public”.
He also emphasised that positioning prices with the current exchange rate would not only promote fairness but also foster goodwill and trust between traders and their customers.
Franklin Cudjoe asserted that in just 125 days of the John Mahama administration, GUTA is already calling for price reduction.
Franklin Cudjoe reacting to the news took to his social media page on X and stated, “ For the first time in Ghana’s recent economic history, the fiercest trade association, GUTA, called on traders to reduce prices to respond to a relatively better management of the currency and overall economic discipline”.
125 days of peaceful reset. Imagine we were still under the yoke of an unserious bunch of plunderers and economic vampires!!”, he added.
See the post below:
For the first time in Ghana’s recent economic history, the fiercest trade association, GUTA, called on traders to reduce prices to respond to a relatively better management of the currency and overall economic discipline.
125 days of peaceful reset. Imagine we were still under…
— Franklin CUDJOE (@lordcudjoe) May 12, 2025
