Kofi Ahovi

 The Ghana Union of Traders Association (GUTA) has urged its members to slash prices on old stock to clear goods and make way for new imports. According to the Association, the move will unlock capital, ease costs on the market, and bring relief to consumers. This comes as the 60-day grace period for price adjustments—introduced following the cedi’s appreciation—has expired. GUTA’s Public Relations Officer, Joseph Paddy, explained that price stability has now held for more than eight months, well beyond the usual business cycle, and traders who refuse to adjust may lose out. This stability has lasted for over eight months now, which is well beyond the usual three-to-four-month business cycle. Typically, when you travel, it takes about a month; shipping your goods takes another month; and clearing can take up to a month as well—so, in all, a three-to-four-month cycle,” he said. He warned that keeping old or near-expiry stock at inflated prices could push traders out of business. We...

  The Abossey Okai Spare Parts Dealers Association in the Greater Accra Region has instructed its members to reduce the prices of spare parts, citing the recent appreciation of the Ghana cedi against the US dollar under the new John Dramani Mahama-led administration. The decision is intended to offer relief to customers and support the government’s efforts to stabilise the prices of goods and services nationwide. The Association lauded the government for taking bold and decisive steps to strengthen the local currency and stabilise the broader economy. We pledge our full collaboration with the government to sustain this positive trend and ensure further appreciation of the Cedi, bringing much-needed economic relief to Ghanaians,” said the Chairman of the Association, Henry Okyere Jnr. He also urged all members to strictly comply with the new pricing adjustments, reinforcing their collective commitment to fair pricing and market stability. The Association believes that this move refl...

  The Abossey Okai Spare Parts Dealers have resolved to close down shops on November 1, 2023, to protest actions by the Ghana Revenue Authority which they describe as an intimidation of businesses. This latest decision follows a series of engagements with the government to withdraw customs officers and halt the tax invigilation process. According to the dealers, all efforts to get the government to listen to their plight have failed and the only option is to close down the shops for days. This decision comes as a response to the association's grievances concerning certain decisions taken to enforce tax compliance and surveillance in its sector. In a press conference held on October 2, 2023, the association expressed its dissatisfaction with the government and the Ghana Revenue Authority (GRA) for not heeding its calls to reconsider the deployment of a compliance task force to monitor tax compliance within their sector. Spokesperson for the Abossey Okai Spare Part Dealers Associatio...