A/R: Kumasi Importers Association Suspends strike Over Cedi Fall

Members of the Importers Association in Kumasi have announced that they will not be importing any goods into the country this week despite opening their shops for business, this follows the Association’s decision to suspend their intended sit-down strike in protest of the falling cedi.

The strike should have taken effect today, Monday, 31 October 2022.

But according to the Association, its decision to suspend the strike is a result of the cedi gaining strength against the CFA Francs and the US Dollar.

Deputy Secretary for the Association, Nana Yaw Owusu Agyemang, in an interview disclosed that members of the association have given themselves an additional week to observe the US dollar and the CFA franc and that will inform their next decision.

“Per our initial arrangement, today we shouldn’t have opened our shops. We’re opening our shops today and this week because based on the cedi to CFA ratio, the cedi has gained strength and we believe that if we open to our business partners who come from various villages and towns to patronize goods from our shops, the inflation rate will also come down again.”

“That is our belief, and that’s the reason why we’re opening,” he explained.

Mr. Owusu Agyemang however reiterated the Association’s decision to stay away from any import activity, while it waits for the cedi to appreciate against the other currencies used for trading by members.

The Ntomahemaa of the Kumasi Kejetia Market, Nana Yaa Boadu, also appealed to the government to put in efforts to reduce inflation which is affecting their businesses.

“Already, since we came here to sell, business is slow, traders come here to sleep, those who will chat too, chat, business is really slow here.

“Currently things are expensive so business is not booming. So we’re pleading with the government to help us,” she said.

Members of the Kumasi Importers Association hinted at a sit-down strike in protest of the falling cedi.

The Association which comprises the Kumasi Togo Agents Association, Clothes Sellers Association, T-shirt Sellers Association, Material Sellers Association, and Babies and Children Ware Association among others, had indicated that the businesses of its members were collapsing due to the depreciation of the cedi.