Trading associations are opposing calls for their dissolution over claims of profiteering and undue monopoly in the retail market.
They have also rejected accusations of capitalizing on the current economic challenges to inflate prices and erode the purchasing power of consumers with the high cost of goods and services.
The Ghana Union of Traders Association (GUTA) has strongly denied these allegations, insisting that the role of the union is solely to protect the interests of both traders and consumers.
The First Vice President of GUTA, Clement Boateng in an interview with Citi Business News argued that “As far as GUTA is concerned, we are living to what we are supposed to do. GUTA has even come out to appeal to its members to try and then reduce prices.
“Two years [ago] when we found ourselves in this same situation. When the cedi depreciated, the cedi to the dollar went as far as 16 to almost 17 cedis. GUTA complained, and it started to drop, and then it came to about 20 cedis. ”
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