FABAG, Ghana’s Food and Beverage Association, has blamed Vice President Dr. Mahamudu Bawumia for the country’s poor economic woes.
Sam Aggrey
The Association claims that the vice president failed as a result of the poor foreign exchange rates. GUTA’s action is fully supported by the Food and Beverages Association, according to Sam Aggrey, the organization’s secretary, who was speaking on the Morning Star with Francis Abban on Wednesday.
“We’re losing company capital if you look at how things are going. One cannot argue that we must remain mute and remain seated without taking any action for the government to recognize that we are serious organizations if you consider the cedi investment and the rate at which it keeps declining.
We anticipated the administration will announce some corrective measures that will truly halt this downward trend. Sadly, we haven’t heard anything, so when the government learns about the store closings or strikes, that is how we will let him know that there is a serious issue in the area,” Mr. Aggrey said.
Regarding the cedi depreciation, Mr. Aggrey urged the government to stop the currency’s rapid decline to reduce costs for businesses. “They don’t need to be in power if they aren’t making any changes to the situation. The Vice President promised that there has been no depreciation of the cedi because it has been arrested and the IGP has been given the key.
“If it is to decline, it should do so gradually; nevertheless, it is growing. The same Bawumia who claimed that if your foundation is weak, the cedi will reveal you, stands by that statement. For the past 12 months, this is what has been happening. The FABAG secretary questioned, “What is he doing about it?
In light of this, he stated, “We are asking that people wake up if they are sleeping and confront the problem. We cannot allow our investment to disappear suddenly while we are suffering. If this is how things will be, then they have no business being in power because we need investors to come into this nation and invest.
