President Nana Akufo-Addo has assured Ghanaians the Cedi will soon stabilize against major international currencies.
The local currency is depreciating against the Dollar in particular, sending a lot of worry in the business community.
Speaking on the development, Akufo-Addo promised policies are being rolled out to reverse the trend.
“I am extremely upset and anxious about it too, but I want to assure you that all efforts are being made to arrest the decline and restore the Cedi to stability in order to improve the competitiveness of Ghanaian industry and I think very soon you will be seeing the results of our policy,” Akufo-Addo said while addressing a ceremony at the Tema Heavy Industrial Area.
The event was to commission the Fujian Sentuo Ceramic Tile Foctory.
He commended managers of the factory, saying it is a significant investment into the economy of Ghana.
“The purpose for setting up this project is to take advantage of the situation. The varied benefits of producing wall and floor tiles locally are substantial and include import substitution and value addition” MD of the company Xu Ning Quan said.
Source: Yaw Effah, Daily Mail Gh