GUTA urges authorities to act over Chinese malls’ impact on local businesses

Clement Boateng, the president of the Ghana Union of Traders' Associations (GUTA), has called on authorities to investigate the impact of Chinese shopping malls on local businesses in Ghana. Speaking on Joy News' PM Express Business Edition, Boateng warned that these malls were taking about 60% of the market share from local traders. Despite the overall improvement in economic conditions, he emphasized that the rising presence of Chinese shopping malls was negatively affecting Ghanaian businesses.

Boateng questioned how the expansion of these malls could be justified when traders claimed that the trading environment was poor. He pointed out that if the economic situation was dire, these Chinese shopping malls wouldn't have been able to take such a substantial portion of the market share. Boateng expressed concern about the destination of the profits generated by these malls.

He argued that Chinese malls would repatriate their earnings, while a thriving local business sector would keep money circulating within the country.

GUTA's plea for action came alongside a generally positive outlook on business conditions. Boateng agreed with the CEO of the Ghana National Chamber of Commerce and Industry, Mark Badu-Aboagye, that economic indicators were moving in a favorable direction. He believed that traders should reap the benefits of this improved environment. However, Boateng maintained that the authorities needed to address the issue of Chinese mall expansion due to its impact on local traders.