Ernest Amoah, a coconut seller at the Asafo Market, shared his frustration during a community forum on Channel One TV. According to him, the cost of goods has skyrocketed, significantly impacting his ability to make sales. "Things are really difficult these days," Ernest said. "People wish to buy coconut, but when I tell them the price, they turn away. It used to sell for GH¢4, but now we have to sell it at GH¢8. It's preventing people from buying, and it's become increasingly difficult to sell even 50 or 100 coconuts a day."
Ernest’s situation is far from unique. Many traders in the Asafo Market are facing similar struggles with the rising cost of goods. The high prices are not only affecting basic items but also creating a ripple effect across various industries. With the added burden of inflation, many customers are tightening their wallets, reducing their purchases, and leaving traders with dwindling sales.
Seth Owusu, a printing press operator who also spoke on the forum, highlighted how another pressing issue—frequent power outages—is exacerbating the challenges small businesses face. "The power supply in this country has really slowed down the business," Seth explained. "We can come to work early in the morning, hoping to earn a living, but when we get to the shop, there is no light. Our business depends heavily on electricity. One of our machines, worth GH¢500 million, was damaged because of the unstable power supply. Instead of providing opportunities for local businesses like ours, the government has been giving contracts to people in China, causing us to suffer losses."
This frustration is echoed by Melody Opoku, a trader who also operates in the Asafo Market. She attributed the constant increase in prices to the fluctuating exchange rate, which has made imported goods unaffordable. "Things are getting worse by the day," Melody lamented. "Prices are increasing day by day, and it’s all due to the exchange rate. As more people continue to import goods, they raise prices, making it difficult for us to stay competitive in the market. We're struggling because people are no longer buying from us as frequently as before."
Melody had expected the situation to improve with the elections approaching, hoping that the government would take steps to stabilize the economy and ease the burden on small traders. However, the opposite has happened. Prices have continued to rise, putting even more strain on the livelihoods of market vendors.
These traders' concerns reflect a broader issue in Ghana's economy, where the rising cost of living is leaving many people struggling to meet their daily needs. Despite promises from the government and political parties to bring about positive change, small business owners like Ernest, Seth, and Melody feel that their voices are being ignored, and their businesses are being left behind.
For many traders in the Asafo Market, the lead-up to the election was supposed to bring a sense of hope that things would improve. However, it seems that the rising cost of living is the only thing gaining momentum. With election season in full swing, it is crucial for political leaders to recognize the challenges faced by small business owners and take steps to address the economic issues that continue to weigh down the everyday Ghanaian.
As we approach the December elections, the economy remains a hot topic, with both the public and private sectors eagerly awaiting a change. Whether that change will come in time to help the traders at Asafo Market remains to be seen. But for now, these traders continue to face the harsh reality of an economy that shows no signs of slowing down.
As the election date draws near, many voters will likely have to decide not just based on party politics but on which candidate offers the best solution to the growing economic crisis that is affecting the daily lives of so many Ghanaians. For the traders at Asafo Market, the hope is that their struggles will not be overlooked and that real, tangible changes will come to address the economic issues they face, well beyond election promises.
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