Stable prices, empty pockets: Kantamanto trader urges cash injection ahead of 2027 budget

A trader at the Kantamanto Market in Accra, Susana Asabea, has appealed to the government to take urgent steps to put more money in the hands of ordinary Ghanaians, saying the apparent stability in prices has yet to translate into improved business for traders. She said although the prices of goods had become relatively stable, many customers lacked the money to make purchases, leaving traders struggling to sell their wares and recover their investments.

Speaking on the PM Express programme on Joy News on Wednesday, November 11, ahead of the presentation of the 2027 Budget by the Finance Minister, Dr Cassiel Ato Forson, Ms Asabea said the biggest concern for traders was not only the cost of goods but also the weak purchasing power of customers. She explained that shoppers increasingly negotiated prices far below what traders had paid for their stock, putting pressure on already narrow profit margins.

She cited the example of an item bought for GH¢20 and offered for sale at GH¢25, which a customer might insist on purchasing for GH¢10 or GH¢15. Accepting such an offer, she said, would leave the trader losing not only the expected profit but also part of the money invested in the item. “Meanwhile, the real amount you bought was 20 cedis, and your profit is maybe five cedis.

So, you are losing your profit and losing half of what you used to buy the item,” she said. Ms Asabea said the situation reflected a wider slowdown in trading activity, despite the relative stability in prices. “It has been a standstill (price stability), but it’s like the trade is not moving on,” she said. She attributed the difficulty to a shortage of money in circulation, saying customers regularly told traders they could not afford the goods on display.

Call for purchasing power Ms Asabea urged the Finance Minister to use the 2027 Budget to introduce measures that would improve the financial position of households and stimulate spending in the economy. “The number one thing I would tell the Finance Minister is to release money into the system,” she said. She said traders needed customers with the means to buy, adding that increased purchasing power would help businesses generate sales, meet their financial obligations and remain operational.

She also pointed to the pressures facing households, saying traders needed income not only to sustain their businesses but also to provide for their children and families. “They should help us. We need money to take care of our business, our children, and our family, and then to move forward in life. We are really suffering,” she said. Her appeal comes as the government prepares to present its 2027 spending and revenue plans to Parliament, with businesses and households looking for measures that can translate improvements in the broader economy into better living conditions.