By Lawrence Odoom/Phalonzy
The Greater Accra Markets Association (GAMA) has lauded the prevailing stability of the Ghanaian cedi, asserting that the currency’s resilience has markedly enhanced commercial conditions and delivered tangible relief to market traders.
Addressing Channel One TV’s Quarterly Economic Outlook on Monday, April 27, Naa Afrowa Dade Padua, President of GAMA and Queen of Makola Market, underscored that the cedi’s relative steadiness has eliminated pricing volatility and fortified business planning across trading hubs.
She recounted that during prior episodes of currency turbulence, merchants were compelled to recalibrate prices within minutes due to precipitous depreciation.
“The Cedi is now stable, and so we are happy. Formerly, if you had a box of milk at GH₵20 and you didn’t buy 30 or 40 boxes, by the time you returned, it would have increased to about GH₵40. So you are unsure of how to sell your goods, whether to sell them or to wait.
“Now, the prices are stable. For us market women, we give credit to whom credit is due. We thank the government, the Finance Minister, and the Governor of the Bank of Ghana,” she stated.
Naa Afrowa Dade Padua further emphasized that the prevailing economic atmosphere has instilled a sense of predictability in market operations, empowering traders to manage inventory and pricing with greater precision.
She also commended what she characterized as deepened engagement between state actors and market stakeholders, noting that traders now feel substantially more acknowledged in national economic discourse.
According to her, in an unprecedented move, both the Governor of the Bank of Ghana, Dr. Johnson Asiama, and the Finance Minister, Dr. Cassiel Ato Forson, have undertaken direct visits to the markets to engage traders on pressing economic matters impacting their livelihoods.