… Ghana Must Reclaim Its Markets Before It Is Too Late
Ghana’s retail market is slipping out of the hands of its own people, and the nation cannot continue to look on unconcerned. What was once a vital economic space for petty traders, small business owners and local retailers has steadily become dominated by foreign operators, leaving indigenous businesses struggling to survive in their own country.
According to the President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng, foreign traders now control an estimated 70 percent of Ghana’s retail market, with local traders holding just 30 percent. This stark imbalance reflects not superior efficiency alone, but the persistent failure of the state to enforce its own investment and trade laws.
Markets such as Kantamanto, Makola and other major commercial centres have undergone dramatic changes. Foreign traders—particularly from China and Nigeria—have entrenched themselves through aggressive pricing, bulk imports and rapid turnover strategies that local traders cannot easily match. In many cases, these operators exploit regulatory loopholes, avoid certain taxes through transit arrangements or free-zone abuse, and flout labour laws by underpaying and mistreating Ghanaian workers.
Entire sectors that once sustained local enterprise—stationery, printing, household goods and light manufacturing—are now largely controlled by foreigners. The influx of cheap imported goods has weakened local manufacturing, pushed traders out of business and worsened youth unemployment, shifting an avoidable burden onto the state.
The danger goes beyond economics. When citizens feel systematically excluded from their own economic space, resentment builds. History shows that prolonged economic injustice, if ignored, can trigger social instability. This is why the issue must be treated not merely as a trade concern, but as a national security and social cohesion matter.
The state has shown that decisive action is possible. The recent ban on foreigners trading in Ghana’s local gold market and the establishment of the Ghana Gold Board to regulate the sector demonstrate political will when national interest is prioritised. The same firmness must now be applied to the retail sector.
Local traders are not calling for xenophobia or hostility towards foreign investment. They are demanding fairness, lawful competition and the protection of a space that was deliberately reserved for Ghanaians. Investment laws exist for a reason, and selective enforcement only deepens inequality and public frustration.
Our mothers who trade in the markets are crying. Our fathers who built small businesses over decades are watching their livelihoods disappear. The youth, seeing no future in local enterprise, are being pushed into unemployment and despair.
Ghana must act now. Enforcement agencies must do their duty without fear or favour. Policymakers must close loopholes that allow abuse of the retail space. Above all, leadership must recognise that protecting local enterprise is not anti-foreign—it is pro-Ghana.
A stitch in time saves nine. If Ghana fails to reclaim its markets today, the cost tomorrow may be far greater than the country can afford.
