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Traders in Kumasi who import goods from Togo are threatening to lockup their shops coming Monday 31st October,2021 if the Cedis keeps depreciating against the CFA franc.
According to the traders ,they always need to add up additional cedis before they will be able to get the quantity of CFA franc to do business in Togo.
Ghanaian traders in Kuamsi said the price of the CFA franc against the Cedis has seen an increase in recent weeks, and the consequences of that have begun to appear in the prices of some goods in the market.
One trader, who buys most of his goods in Togo told Aduanaba Kofi Asante Ennin on GhanAkom current Affairs show on Akoma fm , that the increase in the CFA franc has led to a major decline in sales.
“The CFA franc is increasing every day. Currently 1 cedis is to 49.38 CFA franc .Why are they doing this to us the small business owners,” trader said.
The trader further revealed that this situation will allow them to stop importing from Togo as a result of the lack of stability in the CFA franc compared with the Cedis”.
“The depreciation of the Cedis against the CFA franc will compelled us to closed down our shops coming Monday if nothing changes and we will also stop importing goods from Togo for two weeks because our business are collapsing’,trader lamented.
They are therefore calling on government to take an immediate action to stabilized the Cedis save their businesses.
By Enock Baffoe/ uniquenewsgh.com
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