Ghana: Buying and Selling Business and Its Prohibitive Profit Margins At the Present Time

3 November 2023
analysis

Currently, in the Ghanaian society, there is an upsurge of strong irresistible desire among the people to engage in buying and selling businesses as a means of earning a living; particularly among the illiterates, little or less educated women and children.

The present economic hardships situation in the country has reinforced this desire among the people, and it is making prices of goods and services to become unbearable and nerve breaking!

For instance, a woman will tell a customer in defiance; I bought this blue pen at the cost of GH¢1.50p; and I am compelled to sell it at GH¢2.50p, or I bought this tin of Titus sardine at GH¢10.00; and therefore I am compelled to sell it at GH¢12.00 in order to make a little profit etc.

PRICES OF GOODS

Prices of goods are sold at very high cut throat prices with an excuse or explanation as stated in the immediate foregoing.

What an unfeeling, callous and unsympathetic world or atmosphere that Ghanaians have created for themselves in the art of business at the present time!

Love for one another in the traditional Christian and Islamic doctrines have been thrown to the dogs; and it has become a matter of survival of the fittest in the present Ghanaian society!

What an unjust and imbalanced behavior manifesting among Ghanaians at the present time!

Each one is looking for the least opportunity to exploit his neighbor at the least opportunity. This is a very sad situation indeed!

One can recall with remorse the Rawlings Era of 1979 when armed soldiers fiercely went about checking unlawful profiteering, cheating and prohibitive prices of goods, and whipping publicly, women who were found guilty of this evil social practice.

One could see women stripped half naked and laid on long flat tables; and given lashes of the cane, whilst the general public including school children looked on with glee and joy as the canes descended with rapidity on the bare backs of half-naked stripped women at random! At most, twenty four lashes of the came were given by these fierce armed soldiers at a given point in time on an occasion.

That was the Armed Forces Revolutionary days of rule under the leadership of Flt. Lt Jerry John Rawlings of blessed memory.

Under the present constitutional governance rule of law, there is no effective system of checking prices of goods and services; and so Ghanaians have taken undue advantage of the situation and are behaving like beasts towards each other in the art of business of buying and selling practice.

Is there any justification for the present state of unpleasant affairs to go in the Ghanaian society, just because there is economic hardships prevailing in the country?

Personally, and in my opinion, there is no justification whatsoever for Ghanaians to become callous and unfeeling towards each other in the buying and selling business practice in the present economic hardships prevailing in the country.

ECONOMIC HARDSHIPS

The present economic hardships in the country is worldwide; particularly in African countries and the blame cannot be put squarely on the doorsteps of the government; although some may differ from this assertion.

The present economic hardships prevailing in the country must be objectively analyzed and evaluated before arriving at a conclusion.

I do humbly suggest that Ghanaians must venture into productive business enterprises instead of this common fashioned simple buying and selling businesses practice which do not help much in Ghana's economic growth and development in anyway.

In conclusion, I am of the opinion that when many Ghanaians engage in productive business practice, the desire for high profit margins and cheating will be considerably reduced to the barest minimum; and Ghana's economic growth will be enhanced in some ways, and Ghanaians will be able to withstand and absorb the present economic hardships; and consequently, the Ghana Beyond Aid Agenda aspiration will be enhanced for its success eventually.

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