The Food and Beverage Association of Ghana (FABAG) has disclosed that several of their members who operate supermarkets and other businesses have folded up or shut down some of their branches.
The Food and Beverage Association of Ghana (FABAG) is a national trade association of the food and beverage industry in Ghana, representing food and beverage manufacturers, importers, wholesalers, and retailers among others.
Secretary of the Association, Samuel Aggrey, revealed the depreciation of the Ghana cedi, exorbitant taxes, and cost of going business have left several businesses to lay off their workers, close some of their branches with others collapsing and leaving the country.
He added that ”almost every business in Ghana had lost 50% of their investments, and that is not something we anticipated. We can no longer make projections. We cannot find the money to buy the dollar. Those who can buy, buy the dollar at an expensive rate”.
He opined that the Covid-19 levy is a nuisance tax and must be scrapped since we have managed to reduce the spread of the virus.
He said the cost of import duties is also alarming and creating a terrible environment for business owners.
Mr. Aggrey who was speaking on Frontline on Rainbow Radio 87.5Fm, said supermarkets such as Citydia, Spar and others have all folded up and left the country.
By: Rainbowradioonline.com/Ghana
