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Brace yourselves for price hikes, shortage of goods – GUTA warns over Coronavirus

The Ghana Union of Traders Association (GUTA) has warned of price hikes and a shortage of goods in the country’s markets.

This follows the outbreak of the deadly coronavirus, formally known as COVID-19 across the globe.

According to the National President of GUTA, Dr Joseph Obeng, the surge in the virus around the world had compelled manufacturing companies to shut down.

He projected that by May 2020, Ghana would feel the full brunt of the disease if drastic measures were not taken to stop the spread of the virus.

“About 60% of our traders do physical travelling to the open market in Asia to buy their goods. These people are not travelling at all. So they will not bring in any goods.

“So, if there is a shortage of goods now, until the time this epidemic is contained, they will not be able to restock for the next couple of months. So, it all indicates that by the middle of May, we are going to face some shortage. And because of demand and supply, prices are going to go higher,” he said on Citi FM.

GUTA had earlier warned its members to do all their business transactions via the internet and desist from travels to China, which was the epicentre of the coronavirus.

Coronavirus: Use internet, avoid China business trips – GUTA

A travel ban in Ghana

President Nana Addo Danquah Akufo-Addo has banned all travels for his appointees until further notice.

He also admonished Ghanaians to desist from travelling to countries which had recorded cases of the disease, unless under emergencies.

The move is part of government efforts to ensure Ghana does not record the disease.

In an address to the nation on March 11, President Akufo-Addo announced that the government had committed $100 million as a financial backbone to fight the outbreak of the disease, should an outbreak occur.

Akufo-Addo slaps coronavirus threat with $100million

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