Executive Secretary of the Food and Beverage Association, Sam Aggrey, says the business community is not feeling the effects of the recent appreciation of the cedi, insisting the dollar gains mean little without corresponding tax reliefs. "Dollar depreciation is not being felt at all.
We take it from two-fold.
If you look at what has been in the past, where the cedi started depreciating, from ¢3.80 up to ¢16, you can imagine how much business investors have lost, and also the country itself," he said on JoyNews' PM Express on Thursday, July 3.
According to him, the recovery of the cedi has come at a heavy cost to businesses that are yet to recover from earlier shocks. "So, for the cedi to appreciate again, you look at how much you have lost during the appreciation.
