The General Secretary of the Traders Advocacy Group Ghana, TAGG, Nana Opoku, has described the current business environment in Ghana as extremely harsh, citing high loan interest rates, heavy taxation, and adverse weather conditions as major factors forcing traders out of business.
Speaking on Atinka TV’s flagship programme hosted by Nana Yaw Fianko, Mr. Opoku said government must urgently review its policies to ease the burden on local traders.
He further urged government to stop what he described as preferential treatment for foreign businesses over Ghanaian citizens, and called on landlords and residents to stop renting rooms and apartments to foreigners who, he said, are supposed to stay in hotels in order to generate revenue for the state.
Mr. Opoku also took a swipe at the current Greater Accra Regional Minister, describing him as “the dumbest mayor I have ever encountered.” He linked the recent floods that destroyed traders’ goods to poor planning and disregard for traditional settlement patterns.
“Our forefathers were so intelligent that they settled on non flood prone areas and left wetlands untouched but see what we are doing now?” he asked.
The TAGG General Secretary expressed sympathy to all traders who lost goods and money in the floods, but expressed confidence that “all of us will bounce back stronger.”
He further noted that with only about 2 million Ghanaians paying tax regularly, government must expand the tax net instead of overburdening the few compliant taxpayers.
He commended President John Mahama for appointing a Rent Commissioner and called for the office to be upgraded into a full Rent Authority.
Touching on the power of traders in the economy, Mr. Opoku warned that traders could “force the hands of government” by deliberately increasing prices of goods and commodities.
“Traders can intentionally increase prices of commodities and goods to make a government fail,” he stated, stressing that policy makers must engage the trading community better to avoid such outcomes.
He maintained that until structural issues around interest rates, taxation, and support for local businesses are addressed, doing business in Ghana will remain a struggle for many.
Ghana|Atinkaonline.com