Ghana's Cedi Fall: Scrap Dealers' Struggle Highlights Economic Hardship

Ghanaian Scrap Dealers Struggle Amidst Cedi's Fall: 'The Dollar Reduction Is Affecting Us All' Accra, Ghana – The recent reduction in the value of the Ghanaian Cedi against the US dollar is significantly impacting small businesses across the country. This is particularly true for scrap dealers, as highlighted in a recent TikTok video by social activist Ralph De FellowGhanaians. The video features interviews with scrap dealers in Accra who describe the challenges they are facing. "Currently, we are weighing [scrap metal] at like 25 or 20 cedis," one dealer explains, highlighting the decrease in value compared to previous rates. Another dealer adds, "The business is really down right now." The dealers express frustration not only with the reduced income but also with the difficulty of finding investors to help them diversify into other, potentially more profitable ventures. The video underscores the vulnerability of small businesses in the face of economic instability and calls for support and investment in local entrepreneurs. The scrap dealers' experiences serve as a microcosm of the broader economic challenges faced by many Ghanaians.