{"id":114741,"date":"2026-02-10T04:21:00","date_gmt":"2026-02-10T04:21:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=114741"},"modified":"2026-02-10T04:21:00","modified_gmt":"2026-02-10T04:21:00","slug":"appreciation-of-cedi-gave-business-community-some-gains-guta-president","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=114741","title":{"rendered":"Appreciation of cedi gave business community some gains \u2013 GUTA president"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>2 Minute, 57 Second <\/div>\n\n <\/div>
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The President of the Ghana Union of Traders\u2019 Associations (GUTA), Clement Boateng, says the cedi\u2019s appreciation has brought real gains to the business community and should be reflected in lower consumer prices.<\/p>\n

Speaking on Joy News\u2019 PM Express on Monday, Mr Boateng criticised traders who are refusing to cut prices despite a drop in the cost of some inputs, describing the situation as deliberate.<\/p>\n

\u201cI see the action of not wanting to reduce prices as a deliberate issue\u2026 irrespective of the fact that the commodity\u2026 that he\u2019s using\u2026 has gone down,\u201d he said.<\/p>\n

Using bread pricing as an example, the GUTA President argued that some traders and producers appear unwilling to allow fellow Ghanaians benefit from the improved market conditions.<\/p>\n

\u201cI see that as an attitude of some of Ghanaians that, irrespective of whatever situation we find ourselves in, we will not let our compatriots also enjoy the gains that we have made,\u201d he stated.<\/p>\n

Mr Boateng stressed that the cedi\u2019s appreciation has lasted long enough to produce measurable results for businesses.<\/p>\n

\u201cIt is an undeniable fact that the cedi has appreciated for quite some time. And the business community has made some gains,\u201d he said.<\/p>\n

He insisted that those gains should not remain with traders and importers alone, but must be passed on to consumers.<\/p>\n

\u201cSo definitely, the gains that we have made, we are supposed to also pass it on to the consumer, for the consumer to also enjoy a bit of what has happened in the marketplace,\u201d he added.<\/p>\n

When asked directly whether price reductions are occurring across the market, Mr Boateng responded affirmatively, though he acknowledged that some traders remain stubborn.<\/p>\n

\u201cIt has happened across board. Yes, across board. But you see, as we say, we have bad nuts in every community. People have made up their mind that they will not reduce their prices,\u201d he said.<\/p>\n

He warned that such traders may ultimately pay the price in a highly competitive market environment where turnover determines survival.<\/p>\n

\u201cThe market that we are in is a very, very competitive market. The business that we do\u2026 thrives on turnover,\u201d he said.<\/p>\n

Mr Boateng argued that any trader who refuses to adjust prices risks losing customers and being overtaken by competitors.<\/p>\n

\u201cSo if you sit behind your goods\u2026 and you will say you will not reduce it for the consumer\u2026 you do so at your own expense,\u201d he cautioned.<\/p>\n

He explained that traders who reduce prices sell faster, restock quicker, and keep their businesses running.<\/p>\n

\u201cYour neighbour will sell fast and then bring in more goods to make the turnover that he wants, and his business will thrive, and then you will sit beside your goods, and will not make any sales,\u201d he said.<\/p>\n

The GUTA President maintained that the overall price reduction is already reflected in the inflation trend, which has shown signs of easing.<\/p>\n

\u201cSo I can tell you for a fact that generally, prices have gone down. And that is why inflation also seems to be going down,\u201d he said.<\/p>\n

Mr Boateng also attempted to simplify inflation for the public, linking it to the purchasing power of money.<\/p>\n

\u201cWhat does inflation mean? Inflation simply means having a purchasing value of your money on either goods or services,\u201d he explained.<\/p>\n

He concluded by reiterating that prices have generally fallen and that traders must not stand in the way of consumers benefiting from the cedi\u2019s improved performance.<\/p>\n

\u201cAnd I can tell you clearly that\u2026 prices of goods\u2026 have generally come down,\u201d he said.<\/p>\n<\/div>\n

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The President of the Ghana Union of Traders\u2019 Associations (GUTA), Clement Boateng, says the cedi’s appreciation has brought real gains to the business community and should be reflected in lower consumer prices.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1808,319,948,1883,10,9],"tags":[],"class_list":["post-114741","post","type-post","status-publish","format-standard","hentry","category-cedi-appreciation","category-economy","category-guta","category-national","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/114741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=114741"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/114741\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=114741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=114741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=114741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}