Joseph Paddy, the director of industrial relations at the Ghana Union of Traders Association (GUTA), has emphasised the pressing need for government intervention to bolster the Ghanaian business community.
Speaking on Asaase Radio’s Big Bulletin on Monday (26 February), Paddy highlighted the detrimental impact of foreign dominance on the Ghanaian economy, urging authorities to implement strategic policies to support local entrepreneurs.
Paddy’s call to action comes ahead of President Nana Akufo-Addo’s upcoming State of the Nation address on 27 February and highlights the concerning trend of foreign entities encroaching upon sectors traditionally reserved for Ghanaian businesses.
“We have liberalised our economy so much so that even work that is preserved for Ghanaians is being taken over by foreigners is a worrying concern,” Paddy stated.
He raised examples, pointing out that telecom, banking, extractive industries, and even the trading sphere, intended to be safeguarded for local entrepreneurs, are now largely overseen by foreigners.
Paddy stressed the urgency of government intervention, urging the formulation of targeted policies aimed at nurturing Ghanaian enterprises. “The government should be able to come up with a deliberate policy on what we can do to grow the Ghanaian businessman so if these foreigners go, the Ghanaian can sustain the economy.” He stated.
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