Watching

International News: Businesses Falter in Ghana as Inflation Bites and Local Currency Weakens

  

August 1, 2024     Share on   facebook   Twitter

Ghanaian businesses are struggling amid rising inflation and a weakening local currency. Maame Serwaa, a lace cloth vendor, reports dwindling sales as higher costs of materials squeeze her profit margins. Economist Paul Frimpong attributes the economic difficulties to the severe depreciation of the cedi and escalating inflation rates, which are eroding purchasing power and hampering business operations.