The Ghana Union of Traders Association (GUTA) and a coalition of business associations have suspended their planned nationwide strike following what they describe as significant concessions from the Government of Ghana.
The strike, which was expected to disrupt trading activities across major markets, had been called in response to mounting economic challenges, including currency volatility, high import duties, and rising operational costs. Traders warned that these pressures were severely affecting their ability to sustain businesses and keep prices stable for consumers.
However, after intensive negotiations with key state institutions, including the Ministry of Finance and the Ministry of Trade and Industry, GUTA leaders announced they would put the industrial action on hold.
In a statement issued on Thursday, the association said the government had outlined a set of immediate and long-term measures aimed at addressing traders’ concerns. These include commitments to stabilize the local currency, review certain tax regimes, and improve access to affordable credit for businesses.
