The Used Clothing Dealers Association says it has reduced the prices of their products by 30 per cent.
That, it said, following the gains made by Ghana cedi against the dollar, thereby reducing the cost of duties at the port.
The Public Relations Officer of the association, John Obiri-Yeboah, said this at a press conference in Accra Tuesday (December 20, 2022).
He said the decision to reduce the prices was taken by the executive of the association in consultation with members.
He, therefore, impressed upon members to abide by the decision since that would enable them to make more sales to import more clothing with the drop in the dollar.
Mr Yeboah it would be a disadvantage to those that would not reduce their prices as others did so since persons with reduced prices would end up attracting more customers, thereby making more sales and profits.
He acknowledged the efforts of the government and the Bank of Ghana in stabilising the value of the Cedi amidst inflation crises.
“We send our regards and encourage the government to continue to implement measures that will help the appreciation of the Cedi and bring relief into the business communities in Ghana.
“In view of the current positive change in the value of the Cedi, we have reduced prices of the second hand clothing goods by 30% to our customers to facilitate easy buying and selling,” he said.
“We, therefore, appeal to the public and members in the sector of second hand clothing business, to adjust their prices accordingly for consumers to have a positive feel of the trend”.
Mr Yeboah expressed the hope that the government would continue with the positive energy in stabilizing the value of the cedi as it appreciated and “we believe that the economic stability will be maintained with their immense effort”.