Traders in Kasoa laments foreigners’ hostile takeover in retail business

Traders in Kasoa laments foreigners’ hostile takeover in retail business

Some traders in and around Kasoa have bemoan the gradual takeover of the retail business by foreigners and its consequences on their sources of livelihood.

According to these traders, foreigners engaging in trade in Ghana do not comply with the market rules and are dealing inappropriately in the retail space.

In an interview with ghananewsonline.com.gh, some of the traders mentioned that, aside dealing in businesses which were originally meant for locals, foreigners tend to sell way below the average market prices in order to attract more customers.

They described the recent competition in the local market as unhealthy for their businesses.

Section 27 of the Ghana PIC Act 865

Section 27 of the Ghana PIC Act 865, prohibits foreigners from engaging in retail trade within the jurisdiction. In this regard, the active engagement of foreigners in the retail business as being witnessed now contradicts the postulations of the law.

The Ghana Union of Traders Association (GUTA) has recently backed the action of traders in Kumasi as they call on the government to enforce the GIPC act in order to rescue their businesses.

Some people have however argued that the law contradicts the provisions of ECOWAS to ensure trade and free movement of goods across the sub-region.

Justice Sai, a lawyer at the Ghana Institute and Management and Public Administration (GIMPA) has asserted that it will be very difficult for the government to enforce this particular law.

He advised the government to allow foreign nationals to trade freely in Ghana without any restrictions.

Source: Jonas Danquah