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Business News of Monday, 24 October 2022

Source: www.ghanaweb.com

There will be 'war' if government does not resolve economic challenges – Youth cry

A market in Ghana A market in Ghana

A young Ghanaian man, Kojo Asamoah (not his real name), has called on the government to as a matter of urgency, respond to calls for the restoration of Ghana’s economy. When traders at the Makola shop closed their shops on October 19, 2022, to demand that government rescues the depreciating cedi, Kojo was among young men whose livelihoods depended on packing goods and doing other petty jobs. Speaking to GhanaWeb’s Stella Dziedzorm Sogli, he lamented the rising cost of basic amenities. According to him, if the current hardships continue, he together with his friends “We are suffering too much. At Tudu here today, when we come, we get things to do and get some money for upkeep, then we don’t get any ideas to do bad things or indulge in social vices. Now shops have closed, and everybody is lamenting over the increasing economic hardship,” he said. He added that “We are pleading with the government. What is he doing for us? Because of dollars, we don’t get food to eat. Even pure water is 50pesewas and some of us don’t even have rooms so when we are going to bath it is 2.50pesewas or 3cedis a week. When you calculate it, in a week, where are we going to get that kind of money from? We too are citizens of Ghana. We are pleading with the government to do something about the situation else there will be war.” The Ghana cedi has depreciated by more than 50% in recent times to currently sell at GH¢16 at some forex bureaus in the country. Inflation is currently on the rise as prices of goods and services keep shooting up. Ghanaians have constantly called on government to help resolve the crisis in order to avert any further crisis. Watch the latest episode of BizTech below: SSD/FNOQ