The Ghana Union of Traders' Association (GUTA) has called on the government to take action against the influx of foreigners into Ghana's retail space. GUTA president Joseph Obeng expressed concern that the presence of imported subsidized goods in the market is driving Ghanaian traders and manufacturers out of business. Chinese-owned retail centers like China Mall and China Town have captured a significant portion of the market, accounting for 40% of the market share, while local traders are left with only 20%. Obeng also attributed the depreciation of the cedi on the foreign exchange market to the activities of foreign traders. In response, the Foreign Trade Committee of the Trade Department has been empowered to close the shops of unlicensed traders. However, Nigerian traders have expressed dissatisfaction with this decision [ffb00a07].
The Ghana Union of Traders' Association (GUTA) has raised concerns about the increasing presence of foreigners in Ghana's retail space. GUTA president Joseph Obeng has urged the government to take decisive action to address this issue. According to Obeng, the influx of imported subsidized goods has had a detrimental impact on Ghanaian traders and manufacturers, forcing many of them out of business. Chinese-owned retail centers, such as China Mall and China Town, have gained a significant market share, accounting for 40% of the market, while local traders are left with only 20%. Obeng also highlighted the role of foreign traders in the depreciation of the cedi on the foreign exchange market. As a response, the Foreign Trade Committee of the Trade Department has been given the authority to close the shops of unlicensed traders. However, this decision has faced criticism from Nigerian traders [ffb00a07].