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Business News of Monday, 21 February 2022


We're ready to export locally manufactured goods - GUTA

GUTA president, Dr Joseph Obeng GUTA president, Dr Joseph Obeng

Exporting locally manufactured goods a win-win situation for trading community, GUTA

Support exportation of Ghanaian products, GUTA to members

Cedi depreciates in recent times, Report

The Ghana Union of Traders Association (GUTA) has said it is poised to support local manufacturing companies by exporting their goods to other countries.

According to the Chief Executive Officer of the Association, Dr Joseph Obeng, their move is to support government's One District-One Factory (1D1F) initiative.

This, he said, will help stabilize the local currency - Cedi - which has in recent times witnessed a free fall.

In an interview with the Ghana News Agency on Friday, Dr Joseph Obeng said, “We want to do what we call the income in-income out programme to export goods from Ghana to the destinations that we go and import the goods.”

“…We’re traders so we’ll be the same people to export these goods and when it is turned into forex then we can use it to also do our importation,” he added.

In his view, the move, yet to be taken by his members, will be a win-win situation for the trading community.

He explained that this will also help push government's 1D1F initiative.

He said: “For the trading community, we give all our support to it, and we know this is the way forward to be able to export more goods so that we can have more forex, and depreciation of the cedi will be a thing of the past."

Meanwhile, on the Interbank forex rates from the Bank of Ghana on Monday, February 21, 2022, the Ghana Cedi is trading against the dollar at a buying price of GH¢6.4195 and a selling price of GH¢6.4259.