By: Michael Kofi Kenetey
The Eastern Regional Branch of the Ghana Union of Traders Association, GUTA has paid a courtesy call on the Eastern Regional Minister, Rita Akosua Adjei Awatey, at her office in Koforidua. The visit aimed to foster and strengthen the relationship between the government and the association.
The Association led by the Eastern Regional GUTA Chairman, Harry Oduro Awuku congratulated the minister on her appointment and engaged her on key challenges affecting the business sector.
Some of the discussions were also focused on the impact of street hawking on formal businesses, concerns over online traders evading taxes while registered businesses remain heavily taxed, and broader trade-sector constraints, including access to finance, trade policies, and the high cost of cross-border transactions.
GUTA also raised concerns over the increasing presence of foreign nationals, particularly Nigerians, in the domestic retail space, which they say is affecting local traders. The Association recalled that a few years ago, tensions arose between Ghanaian and Nigerian traders over control of the retail market, nearly escalating into an international trade dispute.
The association, therefore, called for stricter enforcement of trade laws to protect local businesses and ensure fair competition.
Additionally, the traders lamented the continuous depreciation of the cedi against major trading currencies, which has significantly increased the cost of imports. They stressed that fluctuating exchange rates have made it increasingly difficult to plan and sustain their businesses, as the prices of goods keep rising unpredictably. They urged the government to implement measures to stabilise the currency and reduce the financial strain on traders.
In response, the Eastern Regional Minister, Mrs Awatey commended GUTA for its role in strengthening the regional economy and assured them of the government’s commitment to addressing economic challenges affecting traders. She acknowledged that high taxation, regulatory bottlenecks, and inadequate infrastructure remain pressing issues and pledged to review past negotiations with GUTA and other stakeholders to ensure swift policy interventions.
She further stressed that the President Mahama-led government is actively working to stabilise the economy, manage inflation, and ease the financial burden on businesses. She assured GUTA that their concerns would be given prompt attention to ensure a fair and thriving trade environment.
The visit reinforced the minister’s commitment to supporting traders, enhancing trade policies, and promoting sustainable economic growth in the region.
