Ghanaian actress and entrepreneur, Lydia Forson, has opened up about the struggles faced by local businesses due to the depreciation of the Ghanaian cedi, particularly for those in the beauty and skincare industry.

Speaking in a recent interview with BBC, Forson, known for her work both in entertainment and as a business owner, highlighted the challenges of producing high-quality natural hair and skin care products while grappling with the rising cost of raw materials.

Forson explained that, although she sources most of her ingredients locally, some essential components are imported from abroad.

These imported goods are purchased in foreign currencies, such as US dollars and British pounds, meaning that the depreciation of the cedi directly impacts her production costs.

“I make natural hair and skin care products. I source most of my ingredients locally but there are other ingredients that I source from outside the country.

“And so I have to pay for these goods in dollars and pounds. So when the cedi depreciates, my cost of producing goes up, and there is only so much of it you can put on the consumer,” Forson explained.

The actress further emphasized that these increased production costs lead to difficulties in sustaining the business and creating jobs for the community.

“Now you are trying to create jobs but our ability to create those jobs is hindered by how well the cedi is doing.

“So I am not able to produce so much, and consumers are not also buying. Because if you are producing what people don’t feel they need every day, or it is a bit of a luxury, you are affected. So no matter how well you think you are doing, you are affected,” she said.

The devaluation of the cedi has led to a ripple effect across various sectors, but Forson’s insight into the challenges faced by small businesses—especially those that rely on both local and international supply chains—provides a tangible perspective on the issue.

“As an entrepreneur, she navigates the difficult balance between trying to maintain affordable pricing for her products while dealing with the economic pressure of rising costs.

Further speaking on the personal impact, Forson expressed concern for the broader social consequences, particularly for those who depend on her business for support.

“And you have families. I have family in the village who also depend on you, and the harder things get, the more they depend on you,” she shared, adding a human element to the economic narrative.

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