Mahama Urges Businesses to Cut Prices Amidst Cedi Appreciation

Ghanaian Cedi Gains Fuel Mahama's Call for Price Reductions Ghana's capital, Accra, witnessed a significant event today as President John Mahama addressed a business summit. His speech focused on the recent appreciation of the Ghanaian cedi and its impact on the cost of goods and services. President Mahama commended businesses that have already reduced their prices, stating, "Let this summit mark the beginning of a new compact between the public and private sectors." This statement highlights the government's push for collaboration to ease the burden on citizens. However, he also urged those who have yet to comply to do so, emphasizing the importance of fairness and shared responsibility. The GPRTU (Ghana Private Road Transport Union) was cited as an example of a sector that has responded positively to the cedi's gains. This move by the GPRTU to lower transport fares is expected to provide some relief to consumers. President Mahama's call for further price reductions suggests a broader economic strategy focused on ensuring that the benefits of currency appreciation reach the general public. The summit serves as a platform for dialogue and collaboration between the government and the private sector, aiming for a more prosperous and inclusive future for Ghana.