The Ghana Union of Traders Association (GUTA) has urged President Akufo-Addo to outline strategies for stabilizing the local currency in the forthcoming 2024 State of the Nation Address (SONA) scheduled for Tuesday, February 27.
In adherence to Article 67 of the 1992 constitution, the President is expected to provide updates on governance, security, education, health, and other nationally significant matters to parliament.
In a Monday interview with Citi News, Dr. Joseph Obeng, President of GUTA, underscored the government’s imperative to implement incentives fostering the growth of the business sector.
Dr. Obeng also raised serious concerns about the influx of foreign businesses dominating major trading sectors.
He appealed to the government to strengthen measures promoting the expansion of local businesses.
“When it comes to trading it will surprise you to know that the Chinese, China Town and China Mall and all that have taken about 40% of the market for the trading sector. So, what have we to show again? So, we must start thinking about how we can give the commanding heights as promised by our forefathers to the Ghanaian indigenes.
“And this is one area that we are expecting the government or all other political leaders to start thinking around. Otherwise, the people of Ghana will be disappointed.”
“And it doesn’t leave anything also for us because they take the best of it and repatriate to their home countries when we are always crying that we don’t have any foreign exchange, the depreciation,” he stated.