The Ghana Union of Traders Association (GUTA) has suspended its three-day strike action citing goodwill from government and other notable personalities contribution to its decision.
The mass action that has kept trading shops in Accra closed since Wednesday, October 19 was as a result of what they consider unbearable cedi depreciation affecting their working capital.
They had cited the falling rate of the local currency, Cedi, on the international market as foremost reason why they took the action.
The union in a statement said consultations with the government and Ga Mantse, Nii Tackie Teiko Tsuru II had led to the softening of its stance.
Citing goodwill from the government, the union said the government plans to put together a working committee made up of the Ministry of Trade and Industry, National security and GUTA, to “swiftly come out with pragmatic measures to solve the challenges
It said since the action was embarked upon, major stakeholders including President Nana Addo Dankwa Akufo-Addo have met the executives of GUTA and acknowledged their concerns.
“In view of all this goodwill from these great personalities, we wish to appeal to our teeming members and the entire trading community who participated in this strike action to reopen their shops from [Friday] as we continue to pursue the process for immediate solution” the statement said.
President Akufo-Addo has directed that a working committee be set up “for expeditious action”.
It was also agreed that the concerns of the traders be factored into any negotiations ongoing with the IMF.
The traders singled out the Ga Mantse, Nii Tackie Teiko Tsuru II, President Akufo-Addo and members of the Council of State as helping very hard to find a lasting solution to this.
Ghana’s economy has come under severe hardship with its currency depreciating to its lowest, inflation rising and interest rate increasing.
This has affected the business community, a trend they say is collapsing their businesses.
source: theGhanaianvoice.com