Business News of Thu, 21 Sep 201712

GUTA blamed for foreigners influx in retail business

The Head of Finance Department, University of Cape Coast Business School, Dr. John Gatsi, says it will be difficult for Ghana to fully enforce the law that bars foreigners from doing retail business in the country.

He said if that law is followed through, it could have repercussions for Ghanaians doing business in other countries.

Meanwhile, former Deputy Minister of Trade and Industry, Murtala Mohammed has blamed the Ghana Union of Traders Association, GUTA for the continuous involvement of foreigners in the retail business in Ghana.

According to him, the previous administration did all it could to get rid of foreigners from the retail market, but GUTA failed to identify the supposed foreigners.

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The Ghana Union of Traders' Association, GUTA, Greater Accra Region, has given an ultimatum to government to weed out foreign nationals in the retail business by the end of next month.

At a news conference in Accra, the Chairman of the group, David Amoateng said it is sad that businesses meant for indigenes have been taken over by foreigners contrary to the laws of the land.

In addition, the association has urged the government to revise its strategies and reduce significantly the benchmark values placed on imports.

The Greater Accra Regional GUTA General Secretary, Nana Opoku, was speaking at a press conference in Accra on Tuesday.

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