The President of the Ghana Union of Traders’ Associations (GUTA) has cautioned traders against profiteering, urging them to adopt fair pricing practices in an increasingly competitive market environment.
Speaking on current market conditions, the GUTA President stressed that excessive pricing driven by greed could drive customers away and ultimately hurt businesses. He noted that competition among traders is intensifying, and only those who price their goods reasonably while maintaining quality will be able to sustain customer loyalty.
According to him, traders must recognise that consumers are more informed and price-sensitive than ever, with many willing to switch sellers in search of better value. He warned that attempts to exploit customers through unjustified price hikes could backfire.
The GUTA President also linked fair pricing to broader economic stability, explaining that responsible trading practices can help ease pressure on household budgets and support national efforts to stabilise the economy.
He encouraged traders to focus on long-term business growth rather than short-term gains, adding that trust and consistency are key to surviving in a highly competitive market.
The caution comes amid ongoing public concerns over high prices of goods, with many consumers calling for relief as economic conditions show signs of gradual improvement.
