Traders in Kadjebi are reporting continued low sales, highlighting a disconnect between currency gains and consumer spending in the local economy.
A recent survey by the Ghana News Agency across hardware shops, cosmetic outlets, provision stores, and the main market revealed that, despite the recent appreciation of the Ghana Cedi against major foreign currencies, business turnover has not improved as traders had hoped.
Mr. Kudjo Ntiamoah, a hardware dealer and owner of K. Ntiamoah Enterprise, explained that while the cost of imported goods has slightly decreased, customers remain hesitant to spend due to limited disposable income. “Prices of some items have been adjusted marginally, but people are not buying as we expected. Many customers complain they still don’t have enough money,” he said.
Similarly, Ms. Francisca Nyame, a cosmetics trader, reported that sales have remained slow, with customers purchasing in minimal quantities or refraining from buying altogether, despite suppliers lowering prices.
At the Kadjebi Market, Madam Vida Aku Amanu, Financial Secretary of the Market Women Association, noted that traders across sectors are experiencing the same challenges, affecting their ability to restock and sustain businesses. She urged the government to complement currency gains with policies that increase citizens’ incomes and improve livelihoods.
Consumers interviewed during the survey also indicated that, although they were aware of the Cedi’s appreciation, financial constraints continue to limit spending, keeping demand low.
The survey further revealed that while some traders have slightly reduced prices, many remain cautious about adjustments due to market uncertainties. Despite these challenges, traders expressed optimism that sustained economic stability and further strengthening of the local currency could eventually improve business conditions and boost sales.
