GUTA President Raises Alarm As Chinese Shopping Malls Take 60% Of Local Traders’ Market Share

Story By: Zainab Ali

The President of the Ghana Union of Traders’ Associations (GUTA), Clement Boateng, has raised concerns over the growing presence of Chinese shopping malls in Ghana, claiming that they are taking approximately 60 per cent of the market share traditionally held by local traders.

Speaking during an interview on Joy News’ PM Express Business Edition on Thursday, November 5, Mr Boateng argued that the expansion of these shopping malls was having a negative impact on Ghanaian-owned businesses, particularly traders who depend on retail activities for their livelihoods.

He explained that although Ghana’s broader economic conditions appear to be improving, the increasing presence of foreign-owned shopping centres is creating concerns about the ability of local businesses to compete effectively.

According to him, the expansion of Chinese shopping malls raises questions about how much of the country’s retail market remains accessible to indigenous traders. He also expressed concern about the destination of profits generated by these businesses, arguing that foreign-owned establishments may transfer their earnings outside Ghana, while locally owned businesses are more likely to keep their profits within the domestic economy.

Mr Boateng further noted that the growth of these shopping malls should not be overlooked simply because some economic indicators are improving. He believes that the benefits of economic recovery should also be reflected in the performance and survival of local businesses.
He called on the relevant authorities to examine the situation and pay attention to the competitive challenges facing Ghanaian traders.

His comments have brought renewed attention to the challenges confronting local retailers, particularly small-scale traders who must compete with larger businesses that may have greater financial resources and purchasing power.