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Nana Akosua Pokuaa, the Deputy Queenmother of the Ashanti Regional Beads Sellers Association, has expressed serious concerns about the rising dollar and Sefa exchange rates and their negative impact on local businesses, particularly bead sellers. In a recent interview, she called on Hon. Ato Forson, the newly appointed Finance Minister-designate, to take immediate and decisive action to address the escalating exchange rates.
Nana Akosua Pokuaa explained that the steep rise in the dollar and Sefa exchange rates is putting significant financial strain on small businesses. She pointed out that bead sellers and other local entrepreneurs are facing increasing costs due to the unstable exchange rates, making it difficult to import raw materials and set competitive prices for their goods.
“The rising exchange rates are affecting local businesses immensely. Our businesses, especially in the bead-selling industry, are under pressure. We need immediate intervention to stabilize the exchange rates and create a more favorable environment for us to thrive,” Nana Akosua Pokuaa stated.
She urged Hon. Ato Forson to take swift actions to bring down the exchange rates, ensuring that local businesses can operate without facing constant financial challenges. Nana Akosua Pokuaa emphasized that addressing this issue is vital to support small business owners and improve the economic landscape for Ghanaian entrepreneurs.
The Queenmother’s appeal reflects the growing concern among many small business owners in the Ashanti region and across the country, who are grappling with the difficulties brought on by the fluctuating exchange rates. Nana Akosua Pokuaa’s call for action highlights the importance of government intervention to stabilize the currency, reduce inflationary pressures, and support local businesses that are key to the nation’s economic growth.
Her comments further underline the need for urgent and effective policy measures to alleviate the economic burdens faced by Ghanaian entrepreneurs, enabling them to continue contributing to the country’s development and economic recovery.
By Simon Opoku Afriyie
