Deputy Public Relations Officer (PRO) of the Ghana Union of Traders (GUTA), John Obiri Yeboah, has announced that the Used Cloth Dealers Association will reduce the cost of their bales by 20 percent.
JOY, as he is affectionately known, stated that the cedi’s appreciation against the dollar was the primary reason for their decision.
Mr. Yeboah, who is also a member of the Association, stated that plans are in the works to reduce it further, but that they will start with 20% to see how the market reacts.
The depreciation of the cedi, he lamented, was a terrible moment for the association and its members.
He said the livelihood of traders was threatened since several of them had taken loans to operate.
He was speaking to Kwabena Agyapong on Frontline on Rainbow Radio 87.5Fm.
”When the cedi depreciated against the dollar, we closed our shops, complained bitterly, and asked the government to address it. It has worked. The cedi has appreciated, and so we have decided to reduce the cost of bales by 20 percent. We will reduce it further, but we want to start with the 20 percent.”
By: Rainbowradioonline.com/Ghana
