Kwame Tutu, President of the Africa Schools Sanitation Foundation (ASSF), has communicated worry about the ‘bootleg market’ exercises run by outsiders.
He expressed that no serious nation would endure the presence of the bootleg market, which he accepts is influencing the cedi’s appreciation against other significant monetary forms.
He expressed on Frontline on Rainbow Radio 87.5fm that the worth of the cedi has devalued to where Ghc100 today is comparable to GHS10.
He expressed that it’s a horrible idea for us to permit the bootleg market to exist and for outsiders to sell and trade unfamiliar monetary standards.
“You will see outsiders trading and selling unfamiliar monetary forms at Kotoka International Airport. You will see these outsiders selling and trading unfamiliar monetary forms at Circle. This is a calamity. Our chiefs know about this, yet they are never really tending to it.
“These outsiders keep the dollar and make a made up shortage. At the point when there is a fake deficiency, the dollar rate increases consequently. This shouldn’t happen. The Bank of Ghana knows about the issue yet has never really tended to it. We want to make a move.
“Ask with the financial supervisors responsible for the economy about where on earth we permit outsiders to sell unfamiliar monetary standards in Ghana. It is basically impractical. We should resolve the issue,” he added.
The transmission writer and correspondence master additionally talked about betting in Ghana and its adverse consequence on the economy. He said we can’t keep on permitting outsiders to keep selling the dollar in our forex space like ‘koko’.
He guaranteed that these wagering organizations rearrange their benefits to their particular nations, which adversely affects the economy.
He accentuated the significance of specialists making a move to resolve these issues before they become insane.