The Greater Accra Markets Association (GAMA) has cautioned against the rejection of coins in daily transaction with the assertion that it is increasing the cost of goods and services, and has encouraged the public to continue to use their coins. The Association said, that as the rejection of the smaller coins continue, change is becoming an issue, and it believes this compels shop owners to increase prices.
President of GAMA and the Queen of Makola Market, Naa Afrowa Dade Padua said that, coins are legitimate money. “Please we would want to use this medium to inform Ghanaian’s that the coins are here. Because the Bank of Ghana governor is marginalizing the coins out and it is the marginalization of these small coins is what’s is increasing some prices.
How will you give someone a sachet water of 30 pesewas a change. As result of that he said; if you are not careful and you buy your water, say they add one more 50 pesewas to the 50 pesewas that a 100 per cent increase,” she expressed
“As the days go on; a trader is compelled to round up when they don’t have any change with respect to these small coins, if there is any impact on the pricing structure,” GAMA, therefore calls on the Ghanaian public to support the usage of coins, as the currency remains legally valid and in use everywhere in Ghana.
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