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Over 38 retail mobile phone stores owned by foreigners in Koforidua have been closed by an enforcement operation conducted by the Ghana Union of Traders Association (GUTA) in the Eastern region.
The Ghana Investment Promotion Center Act (Act 865) section 27, which forbids foreigners from working in the nation’s retail sector, is the reason behind GUTA’s decision, according to Samuel Aikins, the Eastern Regional Vice Chairman of GUTA, who made this statement to Afeema News on Wednesday.
In an interview with Kaakyire Kwasi Afari of Afeema FM, Mr. Aikins stated that the lack of enforcement by the authorities regarding the G I P C law is currently having a number of negative effects on the Ghanaian economy. He highlighted the high rate of inflation, the Cedi’s rapid depreciation, the collapse of the manufacturing sector, the high cost of retail, and the export sector’s collapse, among other issues.
He said until the canker is flushed out of the regional capital, association members would continue to carry out similar exercises, including hiring foreigners for tabletop businesses.
As a result, the vice chairman has issued a warning to any foreigners working in Koforidua’s retail trade to vacate the markets before the Christmas season.
The Eastern regional branch has threatened to take destiny into their hands to flush out all foreigners in retail trade in the market; if they do not leave the market places by the stipulated time frame.
According to the Eastern regional vice president, the illegal activities of the foreigners is collapsing the local businesses in the region and the country at large.
He stressed that, the foreigners have no consideration for value for money because they mostly deal with inferior products without considering the interest of consumers.
Mr. Samuel Aikins said GUTA agrees with the President’s suggestions of industrialization and limited importations, but believes this must be done in areas where Ghana has a competitive advantage.
Nonetheless, the Ghana Union of Traders Association in the Eastern region has forecast that there won’t be a shortage of items prior to, during, or following the Christmas holiday season.
In terms of the market’s ability to provide consumers with enough goods for the Christmas season, GUTA claims to be fully prepared.
Mr. Samuel Aikins responded to a question concerning the association’s opinions and hopes ahead of the 2024 Budget readings by saying that they are urging the finance minister to lower the current taxes in order to support businessmen rather than accepting any new ones from the government.
He claimed that the already troubled business community is being burdened more by the existing levies.
Source: Ghanatodayonline.com/Kaakyire Kwasi Afari
