June 13, 2024
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2024 SONA: Akufo-Addo must outline plans to stabilise cedi – GUTA

The Ghana Union of Traders Association (GUTA) has called on President Nana Addo Dankwa Akufo-Addo to detail plans for stabilizing the local currency in the upcoming 2024 State of the Nation Address (SONA), scheduled for Tuesday, February 27.

In line with Article 67 of the 1992 constitution, the President is anticipated to present an update on governance, security, education, health, and other nationally significant issues to parliament.

In an interview with Citi News on Monday, GUTA’s President, Dr Joseph Obeng, emphasised the government’s need to implement incentives that would boost the business sector.

Dr Obeng also expressed serious concerns regarding the surge of foreign businesses in major trading sectors.

He appealed to the government to enhance measures that would promote the growth of local businesses.

“When it comes to trading it will surprise you to know that the Chinese, China Town and China Mall and all that have taken about 40% of the market for the trading sector. So, what have we to show again? So, we must start thinking about how we can give the commanding heights as promised by our forefathers to the Ghanaian indigenes.

“And this is one area that we are expecting the government or all other political leaders to start thinking around. Otherwise, the people of Ghana will be disappointed.”

“And it doesn’t leave anything also for us because they take the best of it and repatriate to their home countries when we are always crying that we don’t have any foreign exchange, the depreciation,” he stated.

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