GUTA: Parliament Enabling Foreign Takeover (Boateng Warns Politicians, Defends Local Traders)
Clement Boateng, the president of the Ghana Union of Traders Association (GUTA), says that both the Minority and Majority in Parliament are allowing foreign businesses to take over important parts of Ghana’s economy, which hurts local traders. During a meeting with the Minority, he said that political inaction and weak enforcement of laws like the Ghana Investment Promotion Centre (GIPC) Act have let foreign investors, especially those from China, work in areas that are supposed to be for Ghanaians, like retail, construction, mining, finance, and small-scale trading. He said that this has pushed local business owners out of business and hurt the environment in the mining industry. Boateng also said that politicians, many of whom are businesspeople, could miss out on future private sector opportunities if things keep going the way they are.
