With the relative stability of the local currency in recent weeks, they believe it will lead to the stabilization of prices for goods and services in the country.

The residents and business owners who spoke to the Ghana News Agency in Kumasi said that although economic activities had not picked up much after the Christmas and New Year festivities, the current stable trends in the cedi and petroleum products, if sustained, could have a positive impact on business activities.

Madam Anita Amoako, a provision shop owner at the New Agogo market in the Asokwa Municipality, told the Ghana News Agency that the prices of her wares steadily increased around November and early December 2024.

However, she noted that the prices of these products stabilized in the later part of December 2024 and early January 2025, signaling a positive trend in the market for the months ahead.

“I hope the prices stabilize for both buyers and sellers to keep us in active business. I believe that in this New Year, with the incoming government administration, things will be a bit smoother for all business transactions,” she said.

Hassan Yussif, a supplier of palm oil, also spoke to the GNA and expressed hopes that the year would bring good deals for businesses. He said they were not expecting any increases in transport fares that could trigger price adjustments by traders on goods and services.

Yussif noted that with key economic indicators, such as the Ghanaian cedi, currently remaining stable for a period, “there will be enough money in the system” to bring relief to citizens.

Mama Atta Akosua, a poultry products and egg seller, said she expected the prices of poultry feed to go down this year. This, she hoped, would encourage poultry and egg sellers to “if not reduce prices, at least maintain the current prices for a period of time.”

Stephen Mensah, a Master of Business Administration (MBA) graduate from the University of Cape Coast, told the GNA that he expected stability in the economy, especially in the Ghanaian currency.

He said the cedi should not be allowed to depreciate to the point where business owners lose their capital, as this would undermine confidence in the system and drive many companies to relocate outside the country.

Mr. Mensah called on the government to work towards reducing interest rates on loans to make business more attractive. He explained that when people borrow at lower interest rates, they are better able to repay their loans on time.