GUTA President Blames NPP, NDC Politicians for Surge in Foreign Businesses in Ghana

GUTA President Blames NPP, NDC Politicians for Surge in Foreign Businesses in Ghana

The President of the Ghana Union of Traders Association (GUTA) has accused both the ruling New Patriotic Party (NPP) and the opposition National Democratic Congress (NDC) of enabling foreign businesses to dominate the country’s economy, leaving local traders struggling to survive.

In a recent engagement with the Minority in Parliament, Clement Boateng criticized politicians for allowing foreign businesses—especially Chinese investors—to take control of vital sectors such as retail, construction, mining, finance, and small-scale trading.

He expressed concerns that the influx of foreign businesses has displaced Ghanaian entrepreneurs, with the mining sector, in particular, contributing to environmental damage, including water pollution.

“I will blame both the minority and majority because it is the politicians who facilitate the influx of foreign businesses, which displace local traders and ultimately control the market,” he said.

The GUTA President also called attention to the lack of enforcement of laws designed to protect local businesses, such as the Ghana Investment Promotion Centre (GIPC) Act, which mandates that certain sectors should be reserved for Ghanaian citizens.

“Despite the existence of these laws, crucial sectors continue to be dominated by foreigners, with no action being taken to safeguard local businesses,” Boateng added.

He further warned that many politicians, who are also businesspeople, would eventually return to the private sector, but by then, opportunities would have been seized by foreign businesses due to the failure of the political class to act.

“When you return to business, you will find that the opportunities have already been taken by foreigners because politicians failed to take action,” he stated.

Story:Efua Nessa
Source :Loco tv