A Ghanaian businessman in the Eastern region, Samuel Adongo famously known as Sammy Adongo has predicted that the Ghana cedis will soon depreciate again after it has gained some stability against the dollar.
To him, Ghanaians are experiencing appreciation of the cedi as a result of many foreigners and travelers in the country.
Mr. Adongo revealed that foreigners and travelers who are affluent brought many dollars into the country to help reduce the value of the dollar.
Speaking in an interview Nhyiraba Nartey Solomon of Bryt fm, Mr Adongo said the cedi will soon perform poorly in the coming days as some institutions and companies are running their business in dollars.
He, therefore, pleaded with government to put measures in place to help support the cedi in this tough time.
Mr. Adongo urged business operators to take advantage of the appreciation of the cedi by importing many goods into the country before it lost its stability.
He called on the government to come out with initiatives and job opportunities to help the country to produce its own goods to stop depending on foreign countries for goods and products to help strengthen the cedi.
Suggesting solutions to tackle the depreciation of the cedi, Mr Adongo said there is the need for Ghanaian leaders to put measures in place to turn our natural resources into finished goods and increase exportation.
He again, indicated that many companies collapsed as a result of the depreciation of the cedis as they mainly import raw materials for production.
Source:Mybrytfmonline.com/Solomon Nartey
