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GIPC must show long term plan for traders—GUTA

June 9, 2017, 1:35 p.m.

The Ghana Union of Traders Association (GUTA), has impressed on the CEO of the Ghana Investment Promotion Center (GIPC), Yofi Grant to outline his plans for traders if the center will no longer pursue protectionism.

GUTA met with Mr. Grant on Wednesday to present challenges facing traders, expressing dissatisfaction on the decision taken by GIPC.

Earlier this week, Mr. Grant argued that reserving the retail sector for Ghanaians is demeaning.

In his view, most local business owners fear competition, hence limiting their operations to buying and selling. Mr. Grant added that traders will be given incentives to grow their businesses.

But speaking to Citi Business News, the Executive Secretary of GUTA, Benjamin Yeboah said the Association is unsatisfied with the explanations, requiring for clarity on the matter.

“We want clarity. We want to know how the plans will make us grow. We want clarity on how this will enhance our production for export”, he said.

Mr. Yeboah was of the opinion that the GIPC must involve the traders and explain details of the plans to the association.

“If you want to grow the Ghanaian business person, you don’t help the Ghanaian business person to grow and then put the person at the same level with foreigners who have stronger financial muscles, then how are we going to grow and compete very well.” he lamented.

On his part, Mr. Grant dismissed reports that government is favoring foreign investors and neglecting local businesses. He made the assertion on the Breakfast Show.

He maintained that the retail sector is a critical part of the economy that must be equipped to propel the development needed for the private sector.

“Remember that Ghana’s economy is dominated 85% by SME’s and SMI”, he said.