More traders in the Kumasi Central Business District have closed their shops as they join the fray to protest over what they say are exorbitant tax policies affecting their businesses.
The protest, which enters its second day, is gaining momentum as the leadership of the traders has vowed not to rescind their decision until the Government intervenes to address their concerns.
The leadership met officials of the Ghana Revenue Authority this morning and is currently in a crunch meeting with their members.
Shoppers travelling from far and near to purchase items in the Central Business District are bearing the brunt of the closure of shops.
The Executive Secretary of the Adum Business Community, Charles Kusi Appiah-Kubi, said: “as we indicated yesterday, our businesses are collapsing, and we cannot continue to sit down unconcerned.”
“We are getting the maximum support from them. The commitment is very high. Actually, we were not expecting this kind of support.”
He believes the support from its traders also validates the protest.
“I think the message is clear. Policy is not helping business growth and is collapsing businesses.”
The traders have also been concerned with the strength of the cedi.
The Ghana cedi has depreciated by 37.5% to the US dollar as of the end of September 2022 according to the Bank of Ghana.
Currently, the dollar is trading at a little over GH¢11 to $1.
Source: Citi newsroom