Ghanaian importers are depressed, businesses folding up – Awingobit

Executive Secretary of Importers and Exporters Association, Sampson Asaki Awingobit has revealed that Ghanaian importers are battling depression due to the country’s economic woes.

In an interview with Akua Oteng Amponsah on Kasapa Adwadie Kase3, the Peoples National Convention (PNC) Chairman cited the depreciating cedi, crippling port duties, and soaring inflation as major challenges.

“The situation is disastrous and importers are struggling to stay afloat amidst the depreciating cedi, crippling port duties, and soaring inflation. The business community is suffocating, and it’s taking a toll on our mental health”, Awingobit lamented.

Mr. Awingobit, also the flagbearer of the People’s National Convention (PNC), emphasized that importers are unable to predict clearance costs.

This uncertainty has led many to suspend trade until after the election.

He urged the government to acknowledge the gravity of the situation, as even well-off Ghanaians struggle to afford basic necessities.

Awingobit asserted that the detectable situation is also a contributor of recent protests across the country.

Ghana’s economy has faced significant challenges in recent years, including, depreciating cedi, the crippling port duties, high taxes and levies at ports have increased costs for importers, soaring inflation: Prices of goods and services continue to rise, ailing economy.

These factors have resulted in business closures, job losses, and economic instability.

Awingobit expressed doubts about the current administration’s ability to address the economic crisis, leaving much work for the next government.

As the country teeters on the edge of economic instability, Awingobit’s warnings serve as a reminder of the urgent need for effective solutions.

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