Vice President of the Ghana Union of Traders Association (GUTA), Joseph Paddy says recent stability in the exchange rate is helping businesses grow.
Speaking on Monday, April 27, he explained that the relative drop and stability of the cedi in recent months have eased pressure on traders especially importers who depend on foreign currency.
He noted that the high cost of doing business in Ghana has long been a challenge, but the improving exchange rate is beginning to reduce that burden.
According to him, a stable currency makes it easier for businesses to plan and manage their finances.
He described the recent trend as encouraging, adding that lower exchange rates help traders operate more effectively.
Mr Paddy also said some commercial banks are now offering better loan terms, with interest rates as low as 6%.
He described this as a positive step, particularly for women in trading.
He recalled that in the past, traders struggled to access dollars and faced frequent exchange rate swings.
However, he said the situation has improved significantly, with the cedi remaining relatively stable for about 15 months.
Mr Paddy expressed hope that this stability will continue, stressing that it is essential for business growth and the broader economy.
