MARKET/SHOPPING BASKET

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Friday 1 March 2019

The Impact of Basket Trade on Poverty Reduction

Ghana's economy is dominated by women in the informal sector  which accounts for trade volumes from the north to the south or even cross border trade with neighboring Burkina Faso, Togo and Ivory Coast.  A critical examination of this economy shows how relevant it is to poverty eradication in Ghana and Sub Saharan Africa.  Most of the women engage in Agriculture produce, retailing of imported manufactured goods, textile, crafts and food. We can conclusively agree that without the work of women in the informal economy,  Ghana would have experienced extreme poverty and hunger.

Per the statistical service’s definition, the informal sector is made up of businesses – across all sectors – which are not registered with the Registrar-General’s Department (RGD) and do not keep formal accounts.
Even though the sector’s contribution is just 28.6 percent of GDP, the same source says, in its 2016 Regional Spatial Business Report that out of 638,000 commercial establishments in the country, 395,977 of them are informal – representing 62 percent.
Though Many have argued that if government finds an innovative way of roping the informal sector into the tax net revenue shortfalls will be partly addressed, as more businesses and individuals will honour their tax obligations. It is also true that if Government also finds more innovative way to cheapen capital, provide support, training and development then our economy would have been much larger and graduate unemployment would have reduced drastically.
Basket weaving project though falls under this economy, it has been traded internationally  and has created over 20,000 in Northern part of Ghana. Over 300 women depend on ASIGE  basket project that is traded globally for employment, food for the home, income for school fees, health  and social well being hence improved standard of living.  A critical look shows how women in the project earns up to 5 USD  per work day which is far higher than Government formal minimum Wage. We believed that if this is developed , then poverty in Upper East would reduced and there will be enjoyable families couple with good standard of living.

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