GUTA urges government to ease trader constraints amid cedi gains
By Praisebell Rosemond Larbi
The President of the Ghana Union of Traders Associations (GUTA), Dr. Joseph Obeng, has emphasised the need for deliberate government support to ensure that traders fully benefit from the recent appreciation of the Ghanaian cedi against major foreign currencies.
Speaking to the media, Dr. Obeng acknowledged the cedi’s recovery as a positive development but warned that without targeted policy measures, its impact on businesses—particularly traders—will be limited.
“We appreciate the stability the cedi is gaining, but that alone is not enough,” he said. “There must be corresponding interventions, such as the reduction of import duties and streamlining of port procedures, to allow traders to feel the real benefits.”
He explained that the business community, especially importers, continues to face high operational costs due to persistent bottlenecks at the country’s ports and border entry points. These costs, he said, reduce the potential gains that traders could derive from a stronger local currency.
Dr. Obeng also urged government agencies, including the Ghana Revenue Authority (GRA) and the Ghana Ports and Harbours Authority (GPHA), to collaborate more closely with the trading community to ensure that current macroeconomic improvements are translated into practical benefits for small and medium-scale businesses.
The GUTA president reiterated that government support in these areas is not just about easing business constraints but is essential to stabilising prices, boosting confidence among consumers, and ultimately sustaining economic recovery.
“The stronger cedi should bring relief to the average Ghanaian consumer, but that will only happen if traders can also operate under supportive and efficient conditions,” he stated. The cedi has seen notable gains in recent weeks, appreciating from over GH¢16 to the US dollar earlier this year to below GH¢13.00 currently, driven by improved investor confidence and policy interventions by the government.
