Weakening cedi takes toll on Ghanaian businesses
International News
June 19, 2024
The depreciating cedi is exerting a heavy toll on businesses in Ghana, a concern highlighted by Andrew Nortey, a trader and Clement Boateng from the Ghana Union of Traders Association. The weakening currency adversely affects import costs, making goods more expensive and impacting profitability for local businesses. Both Nortey and Boateng emphasize the urgent need for measures to stabilize the cedi, such as fiscal policies and economic reforms.