There’s a looming shortage of goods on the market in Kumasi ahead of the Yuletide as six trader associations cease all transactions including importation of goods from Togo.
This is because the members of the associations who import products and goods from Togo have commenced a two-week sit-down strike as a result of the free fall of the Cedi and hikes in prices of goods on the market.
The trader unions include the Importers Association, Kumasi Togo Agents and Traders Association, Clothes Sellers Association, T-Shirt Sellers Association, Materials Sellers Association, Babies and Children Wear Dealers Association, and Headscarves Dealers.
They ply their businesses within and around Kejetia market, Racecourse market, Nana Afia Kobi market, Bantama market, Asafo market, and Kwadaso market all in Kumasi
The traders say they will be compelled to close down over 8,000 shops if the government does not, as a matter of urgency, address the incessant depreciation of the Cedi against its major trading currencies.
Speaking on Akoma FM‘s current affairs and political show GhanAkoma Monday, October 24, Deputy General Secretary of the Importers Association, Nana Yaw Owusu Agyemang, explained that “we are embarking on this sit-down strike because we are out of business because on daily basis, we lose our working capital to the CFA, the devaluation of the cedi has significantly affected our businesses hence our resort to lay down tools to drum home our displeasure”.
The leadership of the trader unions have, thus, directed their members to suspend the importation of goods into the country for the next two weeks, starting from Monday October 24
Nana Yaw Owusu Agyemang further told host of the show Aduanaba Kofi Asante Ennin that “our members are running at a loss due to the constant depreciation of the Cedi, so we have decided to take this bitter pill. Though we are not happy about the decision, it is our only option on the table. We are not importing any goods from any country to Ghana and [for now]. We entreat all our members and anybody who use these two currencies [to transact business] not to import or to travel to import any goods to this country…”
He also implored the government to clamp down on black market forex dealers to help curb further depreciation of the Cedi.
With some few weeks to the Yuletide, the traders’ decision to stop importing goods from nearby Togo will be a hefty blow to patrons in Kumasi and parts of the country because most of the said commodities which have been ceased due to the strike are on high demand due to the locals sharp taste for foreign goods.
The traders say the situation may be dire in the coming weeks if nothing is done urgently to address their concerns and the fall of the local currency.
