The Butchers Association in the Sekondi -Takoradi Metropolitan Assembly, have added their voice to the call on the government to redeem the Ghanaian cedi from its constant depreciation to major foreign trading currencies.
The Association, which relies heavily on Niger, Mali, and Burkina Faso for animals for the Ghanaian market complained about the hikes in CFA franc against the cedi and the trade burden it poses.
Mr Abdullai Ibrahim, with the Sekondi market Butchers Association , says currently, an individual needed some GH¢15,000 for an equivalent of one million CFA while, as in most recent past the same GH¢15,000 could give one almost two million CFA.
He said the trade in foreign currency did not only affect the use of dollars but also traders dealing in CFA and called for urgent steps to save the cedi.
He says the livestock industry is not able to produce enough for local consumption, hence their reliance on Niger, Burkina Faso, and Mali for their animals.
He reveals prices continue to be unstable due to the falling cedi and foreign exchange hikes…leading to members incurring debts.
” We use foreign currency in purchasing our cattle from Benin, Burkina Faso, Mali and other countries. Due to the rise inflation the stock is very expensive, in most cases we sell without getting any profit. This has adverse effect on our living conditions. We are really struggling, we can’t even cater for our families,” He said.
Story by Kelvin Kofi Danso
