The Ghana Union of Traders Association (GUTA) is appealing to banks in the country to relax interests on borrowing as the outbreak of the novel coronavirus has slowed down business and affecting capital.

According to the Union, its members are having a difficult time with capital turnover due to the outbreak which is not only threatening human lives but affecting businesses as well.

Speaking in an interview on Asempa FM’s Ekosii Sen show, Thursday, the Greater Accra Regional Chairman of GUTA, Mr David Kojo Amoateng, said the Union will be happy if the banks are able to slash interest on loans acquired within the last six months.


“If we knew there would be an outbreak of this virus, nobody would have gone for the loans so we will plead with them since we are business partners. There is no GUTA without the banks and vice-versa,” he said.

Mr Amoateng added though members are able to go to do business in destinations such as Dubai, they cannot continue for long since China is known as the designated manufacturing hub of the world.

Meanwhile, GUTA in February 2020 secured a trading deal with the Department of International Affairs of the United Kingdom High Commission following the outbreak of Coronavirus in China.

The deadly virus, also known as 2019-nCoV, which was first recorded in China, Wuhan in late 2019, has spread to other Chinese provinces and other countries including Thailand, Japan, South Korea, Taiwan, and the United States.