President John Dramani Mahama’s call for businesses to reflect the recent appreciation of the Ghanaian cedi in their pricing has been lauded by Senior Presidential Advisor and Special Aide, Joyce Bawah Mogtari. Speaking at the 9th Ghana CEO Summit and Awards Expo, President Mahama urged businesses to alleviate the financial burden on Ghanaians by reducing the cost of goods and services, effectively passing on the benefits of the cedi’s resurgence. This appeal comes as the cedi has experienced a notable recovery against major international currencies, including a gain of over 20% against the US dollar since January. The President’s message underscores the government’s commitment to fostering a stable economic environment and ensuring that the positive economic shift translates into tangible relief for the citizens.
The President specifically commended businesses that had already adjusted their prices downwards in response to the cedi’s appreciation, highlighting the Ghana Private Road Transport Union (GPRTU) as a positive example. The GPRTU had recently announced a 15% reduction in transport fares, demonstrating a proactive approach to aligning their pricing with the improved economic landscape. President Mahama encouraged other businesses to follow suit, emphasizing the importance of sharing the benefits of economic progress with the public and contributing to a broader sense of economic stability and shared prosperity. This call to action signifies the government’s focus on translating macroeconomic gains into real-world benefits for consumers.
Ms. Mogtari, in her social media post, expressed her strong support for the President’s message, describing it as both timely and commendable. She characterized the President’s appeal as a clear directive from the “CEO of Ghana” to the business community, emphasizing the need for collaborative action to support the newfound economic stability. Her endorsement underscores the administration’s unified stance on the issue and highlights the importance they place on ensuring that the positive economic momentum translates into tangible relief for ordinary Ghanaians. This shared perspective reinforces the government’s commitment to consumer welfare and equitable economic growth.
President Mahama’s address at the CEO Summit also reinforced the government’s commitment to maintaining fiscal discipline and creating a conducive business environment. He assured businesses that his administration would continue to implement policies aimed at fostering economic stability, thereby providing a predictable and supportive framework for businesses to thrive. This commitment aims to build confidence in the long-term economic outlook and encourages sustainable business growth. The President’s assurance seeks to create a positive feedback loop, where a stable business environment contributes to further economic progress, ultimately benefiting all stakeholders.
The cedi’s recent appreciation signifies a positive economic shift, presenting an opportunity for businesses to adjust their pricing and pass on the benefits to consumers. President Mahama’s call to action, coupled with the GPRTU’s proactive price reduction, sets a precedent for businesses across various sectors to contribute to broader economic relief. This concerted effort between the government and the business community is essential to ensuring that the benefits of economic progress are shared equitably and contribute to a stronger, more resilient economy.
The government’s commitment to fiscal discipline and creating a conducive business environment, combined with the President’s direct appeal to the business community, signals a strong push towards shared economic prosperity. By urging businesses to reflect the cedi’s appreciation in their pricing, President Mahama aims to ensure that the positive economic momentum translates into tangible relief for ordinary Ghanaians, solidifying the foundation for sustainable economic growth and national well-being. This approach reflects a broader strategy to create a balanced economic ecosystem where both businesses and consumers benefit from positive economic trends.
