The Greater Accra Markets Association (GAMA) has urged the public to accept coins in daily transactions, warning that their rejection is driving up the cost of goods and services.
The Association noted that the refusal of small denominations makes providing change difficult, forcing traders to increase prices.
Naa Afrowa Dade Padua, President of GAMA and Market Queen of Makola, appealed to the public to recognise coins as legal tender and called on the central bank to ensure 10 and 20 pesewa coins remains in circulation.
She stated: “We want to tell the Ghanaian public, please, the coins are still in existence. Governor of the Bank of Ghana, it is the coins that are being removed from existence, which is what is causing an increase in the prices of certain things.
“If you sell sachet water for 30 pesewas, where are you going to get the change? So presently, from 50 pesewas, if you don’t take care, they will add another 50 pesewas, which is a 100% increase,” she said at a public event.
Padua explained that a lack of small change often leaves traders with no choice but to round up prices, negatively impacting consumer costs.
By: Rainbowradioonline.com/Ghana
