Bolgatanga — A renowned entrepreneur and a patron of the Northern Ghana Association of Entrepreneurs (NORGAE), Mr. Benjamin Anyanah, has expressed anger at the situation where Ghanaians are made to pay for goods and services in foreign currencies instead of the Cedi.

He forecasted that the situation if allowed to continue would lead to a situation where the Ghanaian cedi will become totally worthless leading to an 'abnormal' inflation and all efforts being made by government to better the economy would never succeed.

Mr. Anyanah expressed these worries in Bolgatanga at a breakfast meeting of the association at which the Upper East Regional Director of the National Board for Small Scale Industries (NBSSI), Mr. Eric Afram, was an invited guest to educate members on opportunities and resources available to them in the Region.

Mr Anyanah, who is also the Director of BC Bencyn Pharmacy, one of the biggest Pharmaceutical distribution companies in the three northern regions, noted that this phenomenon started with only private businesses but later saw financial institutions such as banks and insurance companies coming in where they encouraged foreign currency accounts. He said what is most worrying is that government institutions such as ministries, departments and agencies have copied it and this must be rejected by the public.

Venting out his frustration, he said, he visited the Registrar General's Department to transact business and was surprised he was asked to pay for the service offered him in the US Dollar. He said not amused about his experience he brought it up at the recently held National Entrepreneurial Business Summit in Accra. But he said his concerns did not rhyme with that of other participants who blamed the situation on the weakness and rapid fluctuation of the Cedi.

Using September 11 as an example, he recalled following the attack and its subsequent economic crisis that led to the fall of the US Dollar, Americans never adopted any foreign currency. "If America had faith in their currency and never gone for a foreign currency why should we give up our own currency because it is weak?" He continued, "If America had gone for any currency rather than their own that would have meant throwing some part of their cultural heritage away and Ghanaians should learn from this and reject the situation of being asked to transact business in other nations' currencies".

Mr. Anyanah urged Ghanaians to hold onto their cultural heritage for which the country's currency is part. To reverse the situation, he pledged to wage a personal crusade on the phenomenon and urged Ghanaians, particularly journalists, to support his cause.

The Regional Director of the NBSSI, Mr. Eric Afram, encouraged those who lack the know-how to contact the NBSSI for assistance.

The NORGAE has, among its objectives, the harnessing of entrepreneurs from the three northern regions to tap the economic resources of the area as well as taking the advantage of policies of the private sector being put in place by government for the development the area.

It is an offshoot of the Ghana Centre of Entrepreneur (GHACED), a nationwide association for entrepreneurs.

It builds the capacity of its members through programmes such as motivational speaking, monthly breakfast meetings and interaction with resource persons.