New Force Leader Nana Kwame Bediako Vows To Place An Embargo On Foreign Traders -

Leader of The New Force Movement, Nana Kwame Bediako has promised to place an embargo on foreigners who have invaded the local markets.

According to him, this will assist with forestalling the devaluation of the local currency.

As part of the process of writing his manifesto, he made this promise during a meeting with members of the Ghana Union of Traders Association. Nana Kwame Bediako expressed worries about the fast drop of the Ghana cedis as against the Dollar and the need to balance out the Cedi.

He announced plans to introduce an embargo on foreign goods to protect Ghanaian businesses. This decision follows engagements with the Ghana Union of Traders Association (GUTA) to instill their interests into his manifesto.

He outlined a comprehensive industrialization plan to drive economic growth, create opportunities for the youth, and support local businesses. Stressing the need for innovative business ideas and a shift from the traditional reliance on natural resources.

He highlighted the struggles of local companies facing collapse due to high taxes and promised to implement reasonable tax policies to protect and promote indigenous companies.

GUTA President, Dr. Joseph Obeng, also highlighted several challenges facing traders and businesses, including high inflation and excessive taxes, which are affecting their operations. He attested that Ghana can accomplish significant economic change only through more prominent portrayal of business interest in governmental issues.

“Business leaders have to take over the governance of Ghana in order to stimulate economic growth,” Dr. Obeng declared. He expressed concern over the growing disillusionment within the business community towards mainstream politicians, stating, “People are tired of mainstream politicians. It is time for business-minded people to take over the leadership of this nation.”

Dr. Obeng also noticed the high cost of doing business in Ghana, exacerbated by high taxes and import duties. He cautioned mainstream politicians that the impending general presidential election may be their last opportunity to vindicate themselves according to the business community.

“Mainstream politicians should pay attention to conversations going on and take Ghanaians seriously by handling matters of the economy more seriously,” he urged.

Nana Kwame Bediako also touched on these sentiments, highlighting the critical impact of economic instability on businesses.

“When the currency is not doing well, businesses will not do well. The rising inflation rate is killing businesses,” he said.

He called for a governance model that fosters progress and prosperity, advocating for internal wealth creation.

Nana Kwame Bediako lamented that the depreciation of the cedi is a consequence of not creating value within the country. He urged GUTA members to position themselves strategically in the marketplace.

“GUTA, start thinking about how you can take the position of the foreign traders here. Let us focus on creating distribution channels. The supply chain will launch us into great wealth.”

“My biggest concern is not just the people suffering but how long they are going to suffer. I don’t know how the next generation will cope if things don’t change. Let the focus shift from enriching foreign nationals in Ghana. We are losing our people to brain drain due to bad policies and it is sad,” he added.

Over the course of its presidency, Dr. Joseph Obeng, the association’s president, has lamented the depreciation of the cedi, which has wreaked havoc on the business community, particularly the trading sector.

The Association thinks that the cost of doing business is too high because of the economic crisis and the ever-increasing cost of shipping goods from Asia.

According to the association, the depreciating cedi’s inflationary pressures have increased the price of goods, making it more and more difficult for businesses to survive.