The President of the Ghana Union of Traders Association (GUTA) has criticised both the minority and majority in Parliament for facilitating the dominance of the country’s economy by foreign businesses, resulting in local traders struggling to survive.
During an engagement with the minority in Parliament, Clement Boateng stated that politicians are accountable for permitting foreign investors, particularly Chinese nationals, to operate in crucial sectors such as retail, construction, mining, finance, communications, and small-scale trading.
He noted that the trend does not only displace Ghanaian entrepreneurs but also leads to environmental degradation, including the pollution of water bodies in the case of mining.
““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.
Furthermore, he condemned the inadequate enforcement of existing laws, including the Ghana Investment Promotion Centre (GIPC) Act, which could reserve specific sectors for Ghanaian citizens.
“Despite these laws, key economic areas continue to be dominated by foreigners, and insufficient action is being taken to protect local businesses,” he added.
The GUTA President advised them to deal with the problem, as many businesspeople in Parliament will eventually join the private sector.
“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.
By: Rainbowradioonline.com/Ghana
