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15.06.2007 Business & Finance

Public worried over increases in prices before re-denomination exercise


Mr Johnson Adu-Gyamfi, a spare parts dealer at Sekondi light industrial area also known as Kokompe, on Thursday said the rapid increases in the prices of goods and services was a disincentive to the re-denomination exercise.

He said several shop owners in their attempt to gain more before the re-denomination had increased the prices of their goods and services without any justification.
Mr Adu-Gyamfi made these comments at a public education forum on the new Ghana cedi by the National Commission for Civic Education (NCCE) at Sekondi.

He said already flour manufacturers; shop owners and food vendors had suddenly increased the prices of their goods to the dismay of customers.

Mr Adu-Gyamfi urged traders and other businessmen not to arbitrarily increase the prices of goods before the re-denomination begins next month.

Mr John Mensah, a Principal Field Officer of the NCCE advised workers at the Sekondi garages to handle the new notes carefully and to ensure that they also had all the security features.
He said fraudsters were likely to circulate fake notes and cautioned them to educate their apprentices and colleagues to know and value the new currencies.

Miss Stella Owusu-Bimpong, a service personnel with the NCCE reminded them that it was expensive to re-print currencies and urged them to handle them with care.

She said the re-denomination exercise must not create panic or fear among Ghanaians since it was meant to make them comfortable in their business transactions.