Several supermarkets have shut down due to economic difficulties - FABAG

Food and Beverage Association of Ghana (FABAG) has disclosed that several of their members who operate supermarkets and other businesses have folded up. Secretary of the Association, Samuel Aggrey, revealed the depreciation of the Ghana cedi, exorbitant taxes, and cost of going business have left several businesses to lay off their workers, close some of their branches with others collapsing and leaving the country. He added that "almost every business in Ghana had lost 50% of their investments, and that is not something we anticipated. We can no longer make projections. We cannot find the money to buy the dollar. Those who can buy, buy the dollar at an expensive rate”. Mr. Aggrey who was speaking on Frontline on Rainbow Radio 87.5Fm, said supermarkets such as Citydia, Spar and others have all folded up and left the country.

Food and Beverage Association of Ghana (FABAG) has disclosed that several of their members who operate supermarkets and other businesses have folded up. Secretary of the Association, Samuel Aggrey, revealed the depreciation of the Ghana cedi, exorbitant taxes, and cost of going business have left several businesses to lay off their workers, close some of their branches with others collapsing and leaving the country. He added that "almost every business in Ghana had lost 50% of their investments, and that is not something we anticipated. We can no longer make projections. We cannot find the money to buy the dollar. Those who can buy, buy the dollar at an expensive rate”. Mr. Aggrey who was speaking on Frontline on Rainbow Radio 87.5Fm, said supermarkets such as Citydia, Spar and others have all folded up and left the country.