The Ghana Union of Traders Association (GUTA) has expressed outrage over the unbearable cost of doing business in the country.

In a press release signed by GUTA President Dr. Joseph Obeng, the association notes that the inflationary pressure on the Ghanaian cedi is making it difficult for businesses to stay afloat.

The release states that the purchasing power of the consuming public has been severely impacted, resulting in reduced business turnover.

Furthermore, rising freight charges, coupled with customs duties benchmarked in dollars at the port, are crippling trade and commerce, leading to hardship for both businesses and consumers.

According to GUTA, repaying bank loans has also become extremely challenging for traders in the country.

In light of this, GUTA is urging the government to take urgent measures to salvage the situation.

The Association has however committed to collaborating with the government to find solutions to these pressing issues.

Source: Oteng Amponsah