Business News of Wednesday, 14 November 2007

Source: GNA

Shops protest foreign invasion of retail trade

Accra, Nov. 14, GNA - A protest rally held by the Ghana Union of Traders Association (GUTA) in Accra on Wednesday against the invasion of the retail trade by foreigners attracted almost all trading associations leading to the closure of almost all stores in the capital. The traders, wearing red bands around their wrists or heads, converged at the Opera Square in Accra around 1000 hours amidst drumming, dancing, ringing of bells and blowing of whistles.

The presence of the Police did not deter them from freely expressing their opinions on issues that bothered them. The rally attracted the Abbosey Okai Spare Parts Dealers Association, the Odaw River Spare Parts Dealers Association, the Ghana Electrical Dealers Association and the Ghana Electronics Dealers Association.

The rest are the Fishing Nets Traders Association, Kantamanto Hardware Traders Association, Kantamanto Second Hand Clothes Dealers Association, Sawing Accessories Sellers Association among others. Some department stores such, as Melcom, which is owned by foreigners, were not open for business.

The protestors carried placards some of which read "Retail trading not for foreigners", "Foreigners taking over our trade - no way," "No VAT, foreigners taking over our shops" and "This is no hate campaign - no foreigner in the retail business."

The rally, which lasted for about one hour was described as one of the biggest meetings of all members in recent times, indicating the seriousness of members about their plight and to have their voice heard. Mrs Hagar Acheampong, a second hand clothes dealer at Kantamanto, told the GNA that due to the participation of foreigners in the retail trade, shop owners had started charging rent in foreign currency thus depriving many Ghanaians of owning shops.

Mr Kofi Safo, an electronics goods seller at Zongo Lane, also told the GNA that some Nigerian friends who had been supplying him with goods had now set up stores in Accra.

"This has slowed down my business and I wish that the government would ensure that the Nigerians would venture only into the wholesale of electronics goods."