Welfare Officer of the Ghana Union of Traders (GUTA), Benjamin Yeboah is cautioning that GUTA members will soon run out of stock if the spread of the novel Coronavirus (COVID 19) continues.
According to him, the availability of goods will reduce and prices will go up if a cure to coronavirus is not found soon.
Speaking on Happy Morning Show (HMS), Mr. Yeboah said “If a cure to coronavirus is not found soon, not only will the pricing of goods be a problem but even the availability will be a huge problem. We won’t get some items to even buy. Most of the things we buy are from china.”
He also asserted that is about time Africa becomes serious about manufacturing. “Coronavirus is affecting economic activities throughout the world. Africa should be serious about it’s inter trading and manufacturing.”
Meanwhile, Stocks around the world have fallen for a fifth day amid growing concern about the coronavirus outbreak.
In London the FTSE 100 index of the largest, typically multi-national, firms fell 1.1% in early trading, mirroring similar falls on other European markets.
In Asia, Japan’s Nikkei 225 index lost 0.8% and the Hang Seng in Hong Kong fell 0.7%.
He, however, appeal to Banks to “sit down and restructure their loan repayment plan with businesses. Especially importers.”
Share markets have faced days of turmoil, with the FTSE 100 hitting a 12-month low on Tuesday and the main US indexes losing more than 3% overnight.
Investors have instead been fleeing to safe-haven assets such as gold, the price of which hit $1,650 per ounce on Wednesday – close to the seven-year highs seen earlier this week.