Second-hand clothing dealers cut prices by 30 percent | Popgen Tech

This, he said, followed the appreciation of the Ghana cedi against the dollar, thereby reducing the cost of duties at the port.

The association’s Public Relations Officer, John Obiri-Yeboa, made this known at a press conference in Accra on Tuesday (December 20, 2022).

The solution

According to him, the decision to reduce prices was made by the management of the association in consultation with the members.

So he convinced the members to comply with the decision as it would allow them to make more sales and import more clothes with the falling dollar.

Mr. Yeboah, it would be a disadvantage to those who would not reduce their prices as others have done, as those with reduced prices would end up attracting more customers thereby increasing sales and revenue.

Efforts

He acknowledged the efforts of the government and the Bank of Ghana to stabilize the value of the cedi amid inflationary crises.

“We extend our greetings and urge the government to continue with the implementation of measures that will help boost the cedi and bring relief to the Ghanaian business community.

“With the current positive movement in the value of the Cedi, we have reduced the prices of second-hand clothes for our customers by 30% to facilitate buying and selling,” he said.

Appeal

“We therefore appeal to the public and members of the second-hand sector to adjust their prices accordingly so that consumers have a positive sense of the trend.”

Mr. Yeboa expressed hope that the government will continue its positive energy in stabilizing the value of the cedi, as he appreciated, and “we believe that economic stability will be supported by their tremendous efforts.”