Foreign businesses now dominate about 70% of Ghana’s market, leaving local traders with just 30%, according to the President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng.
His comments follow fresh enforcement efforts by the Abossey Okai Spare Parts Dealers Association, which on Monday began flushing out foreign traders alleged to be breaching the Ghana Investment Promotion Centre (GIPC) Act, 2013 (Act 865).
The Association has threatened citizen-led action if authorities fail to act.
Speaking on TV XYZ’s Dwaboase programme, Dr. Obeng said weak enforcement of investment laws had ceded control of entire sectors to foreigners.
“Our market is gone. Today, those who deal in stationery and printing are mostly Chinese.
When you go to Chinatown and China Mall, you see many people trooping in and out to make purchases.
Previously, all these cars were going to Makola, Kejetia, Mankessim, but now they are all parked at China Mall,” he lamented.
He added that perception plays a role, with many Ghanaians believing they get better value from foreign-owned outlets.
“We go to China to buy their goods, so if a Chinese person has opened a mall here, locals feel they would be better served when they get to their market,” he explained.
Dr. Obeng warned that the survival of Ghanaian enterprises is under serious threat and urged government to take urgent steps to restore market control to locals.
Source: Myxyzonline.com
