The Abossey Okai Spare Parts Dealers Association has commenced a three-day closure of foreign-owned shops and stores at the popular Abossey Okai market in Accra, citing what they describe as an “invasion” of the local petty trade sector by foreign nationals.
Speaking during a press encounter in his office at Abossey Okai, the Chairman of the Association, Mr. Henry Okyere, said the move is in response to years of mounting concerns about foreigners engaging in retail trade, which, by law, is reserved for Ghanaians under the Ghana Investment Promotion Centre (GIPC) Act.
“We have challenges in the market with foreigners mostly. The law says that all foreigners should wholesale and supply in the market. But over the years, we’ve noticed they are rather competing with us. They wholesale to us and still sit in their shops to do retail. It is affecting our businesses,” Mr. Okyere stated.
According to him, the situation is worsened by the fact that foreign traders often have access to lower interest rates and larger working capital in their home countries, allowing them to sell at competitive prices that local traders cannot match. “They bring goods from Nigeria, Turkey, Dubai, and China, sell at huge margins of profit, and we cannot compete because our banks charge us high interest rates,” he added.
Mr. Okyere explained that the three-day closure was not meant to drive foreign nationals, particularly Nigerians, out of the market but to enforce compliance with the law. He revealed that the Association had earlier met with Nigerian traders to communicate their grievances and urged them to voluntarily close their shops during the period.
“We don’t want them to feel that we are driving Nigerians out of the local market. That is not what we are doing. We are going by the Act—the GIPC Act—that foreigners cannot do retail in the market. They should stick to wholesale,” he emphasized.
The Association plans to meet Nigerian traders on Wednesday to further discuss their concerns. Mr. Okyere, however, warned that if the dialogue fails, the matter would be formally reported to the Ghana Police Service, the Ghana Immigration Service, and the GIPC for enforcement.
He also cautioned Ghanaian nationals who front for foreigners to acquire and operate retail shops, stressing that anyone caught in such acts would face the full rigours of the law.
Mr. Okyere called for government and political support to ensure the sustainability of local businesses, noting that the Association is prepared to work with its council of elders, state security agencies, and relevant authorities to safeguard the interests of Ghanaian traders.
Credit: *Eugene Kwasi Nyarko*
