The Greater Accra Markets Association has expressed satisfaction over what they describe as the recent stability of the cedi, saying it has improved trading conditions and brought relief to market women.
Speaking on Channel One TV’s Quarterly Economic Outlook on Monday, April 27, the President of GAMA, who also serves as Queen of Makola Market, Naa Afrowa Dade Padua, said the relative stability of the currency has reduced uncertainty in pricing and enhanced business planning.
She explained that in previous periods of volatility, traders were often forced to adjust prices within minutes due to rapid currency depreciation.
“The Cedi is now stable, and so we are happy. Formerly, if you had a box of milk at GH₵20 and you didn’t buy 30 or 40 boxes, by the time you returned, it would have increased to about GH₵40. So you are unsure of how to sell your goods, whether to sell them or to wait.
“Now, the prices are stable. For us market women, we give credit to whom credit is due. We thank the government, the Finance Minister, and the Governor of the Bank of Ghana,” she said.
Naa Afrowa Dade Padua further noted that the current economic climate has brought a sense of predictability to market operations, allowing traders to better manage stock and pricing decisions.
She also highlighted what she described as improved engagement between government and market stakeholders, saying traders feel more recognised in national economic discussions.
According to her, for the first time, both the Governor of the Bank of Ghana, Dr. Johnson Asiama, and the Finance Minister, Dr. Cassiel Ato Forson, have visited the markets to directly engage traders on economic issues affecting their businesses.
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