GUTA raises concerns over foreigners in retail trade [Video]

In an interview with Joy News, President of GUTA, Dr. Joseph Obeng, highlighted the adverse effects of this phenomenon on local businesses and the national economy.

Dr. Obeng pointed out that foreign entities, such as China Mall and Chinatown, have captured over 40% of the market share, leaving little room for indigenous traders.

He stressed that the absence of a retention policy allows these companies to repatriate their profits, depriving Ghana of much-needed foreign earnings.

“The retail spirit has already been overtaken by these foreigners. These companies that I mentioned have taken over 40% of our market share. What is left for the indigenous? All the good, juicy areas of the economy are being dominated by these foreigners, and we don’t have any retention to make sure …