By Elizabeth Larkwor Baah
Tema, April 30, GNA – Some business owners in Tema have acknowledged that recent stability in exchange rate management, especially the Ghanaian cedi against the United States dollar, is having a good impact on their businesses.
They noted that the current performance of the exchange rate, even though not too significant, has brought predictability to the market and eased the pressure on pricing for imported goods.
According to the business owners, government’s policy reforms have helped cushion businesses against the erratic depreciation trends witnessed in previous years, adding that the relatively stable dollar-to-cedi rate had enabled better financial planning, reduced operational losses, and enhanced consumer confidence.
Speaking with the Ghana News Agency (GNA) in an interview, they urged the government to sustain the current momentum and extend additional support to small and medium-sized enterprises through improved access to credit and tax reliefs.
They acknowledged that while challenges remain, the cedi’s performance this year was a significant improvement that has restored a sense of optimism among import-reliant businesses and local traders alike.
Mrs. Comfort Badu, a clothing retailer in Tema Community One, said, “Last year, the frequent rise in the dollar rate made it very difficult to price our goods because almost every week prices changed, and customers were complaining; but for the past few months, things have been more stable. We pray it stays like this for long.”
Mr. Kwabena Ankrah, a dealer in imported electronics, said while prices are still high due to inflation and global supply chain factors, the stable exchange rate has provided some breathing space for traders and customers alike.
“We are not saying everything is perfect, but at least we are not waking up every week to new exchange rates; that helps a lot. Customers have reduced complaining. They sometimes think we are happy when prices go up because we are the sellers,” he noted.
Mr Francis Agyeman, a phone accessories dealer, said “when the local currency is stable, it helps businesses plan, it stabilises the prices of goods and services, and eventually benefits the consumer.”
He appealed to the government to support traders with soft loans to expand their businesses to contribute significantly to the development of the country.
“We want to see this stability last; we also hope that the government can help with soft loans for traders and reduce import taxes,” he further said.
GNA
LS/LAA