Businesses Falter in Ghana as Inflation Bites and Local...
International News
August 1, 2024
Ghanaian businesses are struggling amid rising inflation and a weakening local currency. Maame Serwaa, a lace cloth vendor, reports dwindling sales as higher costs of materials squeeze her profit margins. Economist Paul Frimpong attributes the economic difficulties to the severe depreciation of the cedi and escalating inflation rates, which are eroding purchasing power and hampering business operations.