Hot!
Price hikes during festive season
• Christmas hamper
Some traders at the Makola market in Accra have bemoaned the continuous increase of prices of goods at the market.
According to them, the current hikes in prices have dwindled their sales, as customers are not able to purchase their wares.
Price increase during the yuletide has been going on for a long time, however, this year’s increase is nothing compared with previous years.
“Since the prices started going up all my customers complain my items are expensive when I tell them the price, so they leave to find a less expensive one which I doubt they get, and end up going home.” Auntie Mary, one of the traders told The Spectator.
Comparing market of this year with last year’s, others said last year was not as bad as this year because, they were able to sell their goods to their satisfaction and got enough money to fend for their families.
While others complain of how slow the market is, traders who sell Christmas decorations also hope that though times are hard the market will boom by next week ,since people will decorate their homes in this festive occasion.
“Times are hard, but I know it will not stop people from celebrating Christmas and by next week I know my goods will finish.” a trader said.
Though traders complain of slow market, buyers fill the market every now and then to find out the prices of goods before the usual festive season price increase starts.
Miss Janet said, “I came here to buy goods before the prices are increased but I exceeded my budget and could not even get some items because the money I brought is not enough. Christmas prices will be very high this year from the look of things.”
“The reason market is not going on well is because the prices have been increased and customers leave without purchasing the products”, Auntie Akos said.
Another trader said, “Items that were sold at GH60.00 have been increased to GH120.00 which is twice the price and my customers cannot buy.”
“No one is buying my items and the task forces are also telling me to leave where I sell my items. If I leave I will not be able to take care of my family” Mrs. Armah also lamented.
They, therefore, plead with the government to provide a place for them to sell their items in other to take care of their families.
By George Osei & Josephine Nyorkor Ntreh & Serwaa Bonsu
Hot!
GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
Hot!
Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
