Cedi will appreciate if we start purchasing locally made goods – Entrepreneur

CEO of Maison Yusif perfumes has expressed his thoughts regarding the acceptance of black-owned products by Africans.

He explained that the depreciation of the Ghana cedi is as a result of an over reliance on imported commodities relative to locally produced ones.

During an interview on The Career Trail TV program, he established that although more locally produced goods are being introduced into the Ghanaian market, Ghanaians do not purchase these goods.

Relating to his business, the perfumer cited that when he started his perfume business, the purchasing power was very low.

According to him, he used to ride a bicycle carrying this products to individuals to sell. Nonetheless, no one would purchase when they learned it was locally manufactured.

“In Africa we have this inferiority complex with black owned product,” he said.

Although, he acknowledged that some Ghanaians have begun accepting locally manufactured goods, he asserted that, a large portion of the population still strongly relies on the consumption of foreign goods.

This he believes has increased the foreign exchange rate.

According to Yusif, a shift away from reliance on imports is necessary for the Ghana cedi to appreciate in value.

“One of the huge problems the country is facing, is because of the huge amount of importation. If we could cut it by half, and focus on made-in-Ghana items, I think dollar will drop to like 4gh,” he submitted.

Source: Irene Adubea Aning