Dr. Joseph Obeng, President of the Ghana Union of Traders Associations (GUTA), has urged Ghanaians to shift focus from blaming traders to addressing systemic economic issues driving commodity price hikes.
Speaking on KeyPoints with Alfred Ocansey on May 17, Obeng cited inflation, fuel costs, tax burdens, and cedi depreciation as primary culprits. “Traders are victims, not villains. We face the same market pressures as consumers,” he stated.
Obeng emphasized that border closures due to political instability in Niger and other West African nations have crippled trade with key ECOWAS partners like Mali and Burkina Faso. “Our main markets are inaccessible. This disrupts livelihoods and inflates costs,” he said, urging the government and ECOWAS to prioritize diplomatic solutions to reopen trade routes.
He also condemned foreign nationals, particularly Chinese traders, for violating the Ghana Investment Promotion Centre (GIPC) Act by operating in retail spaces reserved for locals. “Foreigners in Eastern Region markets flout our laws. Enforcement is critical to protect Ghanaian businesses,” he asserted, calling on the Ministry of Trade and GIPC to act.
While affirming support for lawful foreign investment, Obeng stressed that unchecked encroachment marginalizes local traders. “If the law exists, it must work,” he said, linking lax enforcement to unemployment and economic instability.
The remarks underscore broader challenges in balancing regional diplomacy, investment regulation, and economic equity. With inflation at 23.1% (April 2025) and the cedi losing 15% value year-to-date, GUTA’s appeal highlights the urgency of cohesive policies to stabilize Ghana’s economy and safeguard local enterprises.
