The President of the Ghana Union of Traders Association (GUTA) has accused both the Minority and Majority in Parliament of contributing to the growing presence of foreign businesses in Ghana’s economy, a situation he says is putting local traders under pressure.
Speaking during an engagement with the Minority in Parliament, Clement Boateng argued that political actors have played a role in allowing foreign investors—particularly from China—to gain a foothold in several key sectors.
He listed areas such as retail, construction, mining, finance, communications, and small-scale trading as sectors increasingly dominated by foreign participation.
According to him, the development has pushed many Ghanaian entrepreneurs to the margins, while also contributing to environmental challenges, especially in the mining sector where water bodies have been polluted.
“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.
Mr Boateng also criticised what he described as weak enforcement of laws, including the Ghana Investment Promotion Centre Act, which is intended to protect certain sectors for Ghanaian businesses.
“Despite these laws, key economic areas continue to be occupied by foreigners, and nothing is being done to protect local businesses,” he added.
He further cautioned that many politicians are themselves businesspeople and could face the consequences of current policies once they leave public office.
“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.
ALSO READ:
