Chinese malls taking 60% of Ghana’s retail market – GUTA laments

The Ghana Union of Traders’ Associations (GUTA) has expressed alarm over the rapid expansion of Chinese-owned shopping malls, which they claim are taking up approximately 60% of the retail market in Ghana. This expansion is causing significant pressure on local businesses, according to the association. GUTA President Clement Boateng highlighted this issue during an interview on Joy News’ PM Express on November 5.

Despite signs of a positive overall business environment, Boateng emphasized that the growth of Chinese malls remains a major concern for Ghanaian traders. He pointed out that key macroeconomic indicators were showing a positive trend, which should ordinarily support trading activities. However, the burgeoning number of Chinese shopping centers is creating a challenging environment for domestic enterprises.

Boateng noted that the microeconomic indices are all pointing towards a positive direction, which should benefit trader activities. He also expressed worry about the dominance of the Chinese malls, stating that they are capturing about 60% of the market, negatively impacting local businesses. Boateng called for the authorities to investigate the malls' operations and assess the broader implications for Ghanaian businesses.

He also raised concerns about the repatriation of profits by these malls, suggesting that thriving local businesses would enable more earnings to remain within the country. Boateng’s remarks underscore GUTA's broader concerns regarding the competitive pressures faced by local traders due to the expansion of foreign retail outlets in Ghana.