GUTA’s call for price cuts an indication of Mahama’s peaceful reset — Franklin Cudjoe

Founding President of IMANI Africa, Franklin Cudjoe

Founding President of IMANI Africa, Franklin Cudjoe, has applauded the performance of the John Dramani Mahama-led National Democratic Congress (NDC) administration, citing it as a reason behind a recent call by traders to reduce prices.

In recent weeks, there have been growing appeals for traders to slash prices in line with the cedi’s appreciation and to help ease the economic pressure on Ghanaians.

In a statement dated May 11, the Ghana Union of Traders’ Associations (GUTA) added its voice, urging its members to pass on the gains of the stronger currency to consumers.

“The Ghana Union of Traders’ Associations (GUTA) wishes to appeal to the trading community to adjust prices of goods and services to share the significant gains made by the appreciation of the cedi against the major trading currencies and bring some relief to the consuming public,” the statement signed by GUTA President, Dr. Joseph Obeng, read.

Reacting to this development in a social media post on Monday, May 12, Mr. Cudjoe noted that this was the first time in Ghana’s economic history that GUTA had made such an appeal.

He argued that the move is a reflection of a “peaceful reset” of Ghana’s economy under Mahama’s leadership, contrasting it with what he described as the previous administration’s mismanagement.

“For the first time in Ghana’s recent economic history, the fiercest trade association, GUTA, called on traders to reduce prices to respond to a relatively better management of the currency and overall economic discipline.

“125 days of peaceful reset. Imagine we were still under the yoke of an unserious bunch of plunderers and economic vampires!!” he wrote.