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Business News of Tuesday, 20 December 2016


Traders slash prices of goods in Accra

The prices of goods have dropped marginally at the the Central Business District (CBD) of Accra. In separate interviews, some traders told the Daily Graphic that they had reduced the prices of their goods to clear the old stock.

Others said they reduced their prices in solidarity with the President-elect, Nana Addo Dankwa Akufo-Addo.

Business was picking up when the Daily Graphic visited the CBD of Accra yesterday.

Many people were massing up there to buy food items, clothing, cosmetics and footwear in readiness for the Christmas festivities.

Kayayei also took advantage of the season to earn income for themselves.

Low prices

For instance, ladies weave-on which was formerly sold at GH¢30 and above was being sold at GH¢5, a situation which attracted more women to patronise that item.

Babies’ clothes that had already been sewn with polished cotton were sold at GH¢25, thereby making them affordable for parents who wanted to grab something new for their children.

Shoes that were known to be expensive in the market had been reduced to GH¢10 for ladies and GHC20 for men.

Second-hand clothes were not left out, as those who could not afford what was sold in the stores resorted to what was popularly called “bend down boutique”, where some items were sold for as low as GH¢1.

A trader in already-made clothes, Mr Patrick Mensah, said he had reduced the prices of his clothes not only to clear the old goods but also to make good sales.

High exchange rate

For her part, Ms Faustina Mensah, a trader in African print, said due to the high exchange rate, business had not been favourable, as some buyers could not afford to buy some of the prints.

A shoes trader, who gave his name only as Baba, said patronage of his items had been low, as many people complained of lack of money in the system.

“Since morning, I have not been able to sell up to five pairs of shoes,’’ he said.