Sick Cedi, erratic power supply killing businesses – Horseman shoes CEO

The Chief Executive Officer of Horseman Shoes, Tonyi Senaya, has lamented that the depreciating Cedi is affecting the growth of local businesses in Ghana and has called on the government to help restore the local currency.

The Ghana Cedi has been struggling against major currencies, especially the US Dollar over the last few months with inflation standing at 15.3% as of July this year.

The brain behind Horseman Shoes, Ghana’s authentic hand-crafted footwear company – told Morning Starr host Kafui Dey on Tuesday, that things are tough for local companies as they grapple to survive and compete with their international counterparts.

He also mentioned that the erratic power supply in the West African country is crumbling their businesses, adding not even standby generators are able to alleviate their plight, since they had to spend a lot on fuel purchase.

Senaya was optimistic that the future looks bright for Ghanaian businesses, despite the challenges on the ground. He said Ghanaians can only support the “Buy Made-in-Ghana” campaign if local firms “provide value for money.”

Senaya, who recently opened his Accra showroom and retail outlet at Kokomlemle, said he is focused on producing world-class standards and to give the Ghanaian consumers value for their money.