• Home
  • World
  • Politics
  • Business
  • Science
  • Tech
  • Entertainment
  • Lifestyle
Monday, June 2, 2025
No Result
View All Result
NEWSLETTER
The Overseers - Ghana No.1 News
  • Home
  • World
  • Politics
  • Business
  • Science
  • Tech
    Sam George demands retraction and apology over “gifted lexus” allegation

    Data cost to reduce by end of year — Sam George

    Digital equality key to Ghana’s development – Sam George

    Digital equality key to Ghana’s development – Sam George

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Uncharted: The Lost Legacy’s Latest Demo Shows A Treasure-Hunting Duo In Sync

    Using A Mind Reading Device, ‘locked-in’ Patients Told Researchers They’re Happy

    Trending Tags

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Man Utd close to signing Wolves’ Cunha

    Man Utd close to signing Wolves’ Cunha

    Pornhub and three other porn sites face EU child safety probe

    Pornhub and three other porn sites face EU child safety probe

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Akrobeto survives road accident near Konongo

    Akrobeto survives road accident near Konongo

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Lyrical Joe disappointed after losing TGMA rap performance award

    Lyrical Joe disappointed after losing TGMA rap performance award

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Dada KD was doing well before his demise – Manager

    Dada KD was doing well before his demise – Manager

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Operational hours at Kumasi, Tamale Airports extended

    Operational hours at Kumasi, Tamale Airports extended

    2025 Hajj: Two dead, five persons repatriated

    2025 Hajj: Two dead, five persons repatriated

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Ghana slashes visa application to 5 working days

    Ghana slashes visa application to 5 working days

    Railway operations unsustainable without private sector – Railway Authority Boss

    Railway operations unsustainable without private sector – Railway Authority Boss

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ministry of Health opens recruitment for Medical, Dental Officers

    Ministry of Health opens recruitment for Medical, Dental Officers

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Trending Tags

  • Home
  • World
  • Politics
  • Business
  • Science
  • Tech
    Sam George demands retraction and apology over “gifted lexus” allegation

    Data cost to reduce by end of year — Sam George

    Digital equality key to Ghana’s development – Sam George

    Digital equality key to Ghana’s development – Sam George

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Dr Bawumia Outlines Plans for a Robust Fisheries Industry

    Uncharted: The Lost Legacy’s Latest Demo Shows A Treasure-Hunting Duo In Sync

    Using A Mind Reading Device, ‘locked-in’ Patients Told Researchers They’re Happy

    Trending Tags

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Man Utd close to signing Wolves’ Cunha

    Man Utd close to signing Wolves’ Cunha

    Pornhub and three other porn sites face EU child safety probe

    Pornhub and three other porn sites face EU child safety probe

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Otto Addo unveils 23-man Squad for 2025 Unity Cup

    Akrobeto survives road accident near Konongo

    Akrobeto survives road accident near Konongo

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Creative Arts Agency engages GIFEC for strategic digital partnership

    Lyrical Joe disappointed after losing TGMA rap performance award

    Lyrical Joe disappointed after losing TGMA rap performance award

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Barcelona beaten at home despite brilliant goals from Yamal, Fermin

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Inter Milan denied top spot after Pedro penalty in draw with Lazio

    Dada KD was doing well before his demise – Manager

    Dada KD was doing well before his demise – Manager

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    Operational hours at Kumasi, Tamale Airports extended

    Operational hours at Kumasi, Tamale Airports extended

    2025 Hajj: Two dead, five persons repatriated

    2025 Hajj: Two dead, five persons repatriated

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Rotational Nurses and Midwives threatens nationwide strike effective June 2

    Ghana slashes visa application to 5 working days

    Ghana slashes visa application to 5 working days

    Railway operations unsustainable without private sector – Railway Authority Boss

    Railway operations unsustainable without private sector – Railway Authority Boss

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Joe Biden diagnosed with ‘aggressive’ prostate cancer

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ghana Confirms Two More Mpox Cases, Total Now Four

    Ministry of Health opens recruitment for Medical, Dental Officers

    Ministry of Health opens recruitment for Medical, Dental Officers

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    FDA to Appeal Tobinco Ruling, Clarifies CEO Dr. Delese Darko Not Responsible for 2013 Actions

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Ghana Kidney Association praises free dialysis initiative, urges permanent support

    Trending Tags

No Result
View All Result
The Overseers - Ghana No.1 News
No Result
View All Result
Home Business

Stop Your Comic Dancing and Fix depreciating Cedis – Ato Forson to Bawumia

by Mawuli Innocent
May 16, 2024
in Business
0
Stop Your Comic Dancing and Fix depreciating Cedis – Ato Forson to Bawumia
0
SHARES
32
VIEWS
Share on FacebookShare on Twitter

The Minority says that the current challenges facing the Ghana Cedi are far from resolved, and the situation is expected to worsen.

With the local currency reaching GH₵15, traders caution that they are transferring the costs to consumers, resulting in a notable rise in the prices of goods and services.

Speaking to journalists in Parliament on Wednesday, Minority Leader Dr. Cassiel Ato Forson lamented the detrimental effects of the Cedi’s depreciation on businesses in areas like Okaishie, Abossey Okai, Kejetia and other commercial districts.

H. E DR. Muhamadu Bawumia

He explained that “In spite of the huge inflows of foreign exchange from the IMF and the World Bank, into the Ghanaian economy, and I’m talking of billions of Ghana cedis, billions of US dollars, the government’s action and its management of the cedi have continued to fuel steep depreciation with no end in sight unfortunately.”
So far, the decisions of the Economic Management Team, chaired by our Vice President Alhaji Bawumia leaves a lot to be desired. The reality of the Ghanaian economy today exposes the credentials of the so-called economic wizkid who was marketed as the savior of Ghana’s economy. Alhaji Bawumia’s credibility is now tatters.

He was worried that the Dr Bawumia who doubles as the New Patriotic Party’s flagbearer is too fixated on his campaign for election than rescuing the ailing currency.

“I want to use this opportunity to urge the Vice President to quit his off-beat dancing on the campaign trail and focus on the dancing cedi. There’s a lot awaiting our country as a result of reckless mismanagement by Alhaji Bawumia’s government.”

This comes as traders across the country are crying foul over the devastating impact of the depreciating currency on their activities.

The business community is up in arms as the development has left some of them running into debt.

According to the Food and Beverages Association of Ghana (FBAG), the model of many entrepreneurs involves selling on credit, which has made it difficult for importers to pay back
Speaking on Top Story on May 14, FBAG’s Executive Chairman, John Awuni described the situation as a crisis as many products.

“It is a massive disaster because we see the working capital of most of the businesses being eroded.”

“Some of the businesses have even stopped selling because they don’t even know how to price it. Ghana is generally a credit market, they receive supply from abroad on credit and they give to the Ghanaian distributors or wholesalers and retailers on credit.”

Source: My joy online
Tags: Ato ForsonCedi DepreciationDr.Bawumia
Mawuli Innocent

Mawuli Innocent

Related Posts

Fitch revises end-year cedi projection to GH₵13 per dollar

Fitch revises end-year cedi projection to GH₵13 per dollar

by Selasi Agbagba
June 2, 2025
0

Fitch Solutions has adjusted its end-2025 forecast for the Ghanaian cedi, revising it to GHS13.0/USD, from an earlier estimate of...

Operational hours at Kumasi, Tamale Airports extended

Operational hours at Kumasi, Tamale Airports extended

by Hamdia Mohammed
June 2, 2025
0

The Ghana Civil Aviation Authority (GCAA), in collaboration with the Ghana Airports Company Limited (GACL), has announced an extension of...

Bel Beverages reduces prices as cedi appreciates

Bel Beverages reduces prices as cedi appreciates

by Hamdia Mohammed
June 1, 2025
0

Producers of the Bel Beverages, BlowChem Industries Limited, has announced reduction in prices across most of its products due to...

Ghana-Germany trade hits €180.9m in first quarter of 2025

Ghana-Germany trade hits €180.9m in first quarter of 2025

by Hamdia Mohammed
May 30, 2025
0

Ghana's trade volume with Germany reached €180,923,000 in the first quarter of 2025, Mr Daniel Krull, German Ambassador to Ghana,...

Past cedi depreciation caused by people manipulating it for profit – John Awuah

Past cedi depreciation caused by people manipulating it for profit – John Awuah

by Hamdia Mohammed
May 30, 2025
0

The CEO of Ghana Association of Banks, John Awuah, has revealed that a significant portion of the cedi’s past depreciation...

Ghana cedi’s recent gains may be temporary without deeper reforms – APL

Ghana cedi’s recent gains may be temporary without deeper reforms – APL

by Hamdia Mohammed
May 29, 2025
0

Africa Policy Lens (APL), a Policy Research and Analyst Organisation, has commended Ghana’s recent macroeconomic progress but warned that the...

Next Post
DR. BOAMAH OTOKUNOR REVEALS THE BITTER TRUTH BEHIND GHANA’S COCOA CRISIS

DR. BOAMAH OTOKUNOR REVEALS THE BITTER TRUTH BEHIND GHANA'S COCOA CRISIS

Recommended

North Dayi MP Cuts Sod for New Classroom Blocks at Yordanu Basic School

North Dayi MP Cuts Sod for New Classroom Blocks at Yordanu Basic School

2 months ago
Transport fares to drop by 15% effective May 24

Mahama lauds GPRTU for transport fares reduction

4 days ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact
    Call us: +23320000000

    © 2024 The Overseer News - Powered By The Overseers The Overseer News.

    No Result
    View All Result
    • Home
    • Politics
    • World
    • Business
    • Science
    • National
    • Entertainment
    • Gaming
    • Movie
    • Music
    • Sports
    • Fashion
    • Lifestyle
    • Travel
    • Tech
    • Health
    • Food

    © 2024 The Overseer News - Powered By The Overseers The Overseer News.