GUTA to demonstrate against cedi depreciation on August 29
The Ghana Union of Traders Association (GUTA), come August 29, 2022, will be embarking on a demonstration against the persistent depreciation of the local currency.
According to GUTA, the rapid fall of the cedi is having a negative impact on their businesses, hence their decision to stage the protest.
Speaking at a press conference on Monday, August 22, 2022, President of the Association, Dr Joseph Obeng stressed that, the worsening state of the cedi has eroded the gains of businesses after the COVID-19 pandemic and the shocks from the Russia-Ukraine war.
He therefore called on government to prioritise the trading community as GUTA prepares to embark on its August 29 protest.
“By the dictates of the trading community, we declare closure of shops in Accra, on Monday, 29th August, 2022, to officially demonstrate these concerns to government”, Dr Obeng said.
The planned protest by GUTA comes in the wake of a recently acute fall in the cedi, after it was pegged at 10 cedis to the US dollar.
The development, which came to the fore on Friday, August 19, 2022, was met with a lot of widespread sentiments from the populace.
According to some, the decline in the county’s currency will only deepen the the heightened levels of hardship which have already plagued Ghanaians.
GUTA also shares in this sentiments; with the view that if government does not roll out measures to immediately address the fast depreciating cedi, the situation may become worse.
Government has however, already assured Ghanaians of its willingness to address the prevailing crisis and put the economy on a better footing.
