The Ghana Union Traders Association (GUTA) is calling on the government to review the profit repatriation law to make multinational firms in Ghana repatriate their profits in tranches within the year.

GUTA said the bulk repatriation puts pressure on the Cedi against the major international trading currencies.

The President of GUTA, Dr Joseph Obeng in an interview with Omanhene Yaw Adu - Boakye, host of Sompa Ade Akye Abiaa on Sompa Television Wednesday January 18 said, "the association has observed that most of the major companies in Ghana are foreign owned and those companies always send their profits back to their countries which tend to place pressure on the Ghanaian cedi and the economy.

He said the cedi depreciation has a very negative impact on businesses because there is always the need to do a top up to be able to get the same amount of dollars for transactions.

"When Cedi begins to fall against the major trading currencies, it has a rippling effect on the Naira and CFA as well", Dr Obeng added.

Source: Ghana/Sompaonline.com/Nana Yaw Boamah