The President of the Ghana Union of Traders Association (GUTA) has accused both the minority and majority in Parliament of enabling foreign businesses to dominate the country’s economy, leaving local traders struggling for survival.
Speaking during an engagement with the Minority in Parliament Clement Boateng, politicians are responsible for allowing foreigners—particularly Chinese investors—to enter key sectors such as retail, construction, mining, finance, communications, and even small-scale trading.
He raised concerns that this trend has not only displaced Ghanaian entrepreneurs but, in the case of mining, has led to the pollution of water bodies.
“I will blame both the minority and the majority because it is you, the politicians, who help allow these foreigners to flood our market and then try as much as possible to displace the locals and then take the market completely,” he said.
He also criticised the lack of enforcement of existing laws, including the Ghana Investment Promotion Centre (GIPC) Act, which could reserve certain sectors for Ghanaian citizens.
“Despite these laws, key economic areas continue to be occupied by foreigners, and nothing is being done to protect local businesses,” he added.
The GUTA President warned that many politicians themselves are businesspeople and will eventually enter the private sector after leaving Parliament.
“When you return to business, you will find that opportunities have already been taken over by foreigners because of the failure of politicians to act,” he said.
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Source: www.myjoyonline.com
