A cross-section of Ghanaians, particularly on social media, has taken a swipe at traders for their refusal to reduce the prices of goods despite the recent rapid appreciation of the local currency, the cedi.
Many have pointed out that traders are often quick to increase prices when the cedi depreciates, but the same urgency is not applied when the currency begins to recover.
Transport fares are set to decrease by 15% today, May 24, 2025. However, some drivers remain reluctant to comply with the directive.
This has sparked agitation among Ghanaians, with many labelling the traders as “greedy.”
Meanwhile, scrap dealers at Abossey Okai have stated that they will not reduce the prices of their goods just yet, citing the cedi’s appreciation as not yet stable. They have asked customers to expect price reductions in the next two months.
See some posts below:
Let dollar increase by 1 ghs. You’ll see immediate price increments.
For all our sakes, let the low prices hold. Else, we’re fucked.
— TheDumbTechGuy (@TheDumbTechGuy) May 24, 2025
Why wont traders start reducing prices?
— Torgbuigà (@Mr_Ceyram) May 23, 2025
Because they did not reduce it in 2022 when the dollar was 8.50gh
— France Mecard (@StMecard) May 23, 2025
Ghanaians are learning a lot about the Ghanaian business community. They have been price gouging you since Adam and blaming it on Aban. They have always been profiteers. That is why they hate Igbo businesses.
— John Brown (@zlfttt) May 23, 2025
The funny thing is seeing people mock dollar earners as the cedi strengthens.
They earn it regularly, they don’t hoard. So up or down, doesn’t change much.
What we all want is a corresponding change in local prices.
— TheDumbTechGuy (@TheDumbTechGuy) May 24, 2025
Could state-run stores selling consumer staples at controlled prices influence the wider market? If traders won’t voluntarily lower prices when the cedi strengthens, perhaps this could catalyse some more reasonable pricing across the board.
— Hrafnaguð (@Darqseyd) May 23, 2025
Normalizing cedi and traders reducing prices are two different things.
The anger should be on traders. If the rates increase, they don’t wait to increase prices. Ghanians are greedy and not smart in trading. I said what I said. Dollar has fallen enough to reflect in everything— Aḽ͖͚̳̭ͧ̒͐i̺̦̣̒̔̂m͉̫͕͈̿ͯ̔ĭ͐ (@ferstborn) May 23, 2025
I see that the gov’t is urging traders & businesses to lower their prices due to the appreciation of the cedi against the dollar.
Is this directive also being applied to telecom companies? The prices of data bundles need to be reduced immediately. @samgeorgegh talk to your ppl.— See Connie🦄 (@owuraku_jnr) May 23, 2025
Watch GhanaWeb Business’s interaction with the spare part dealers below
SSD/MA
