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Nana Kwame Bediako Vows to Protect Local Traders and Boost Ghana’s Economy

Nana Kwame Bediako Vows to Protect Local Traders and Boost Ghana’s Economy

Nana Kwame Bediako Vows to Protect Local Traders and Boost Ghana’s Economy

Nana Kwame Bediako, the Presidential candidate for the New Force Movement, has announced plans to introduce an embargo on foreign goods to protect Ghanaian businesses. This decision follows engagements with the Ghana Union of Traders Association (GUTA) to inculcate their concerns into his manifesto.

Nana Kwame Bediako emphasized that the unrestricted importation of goods from other countries is harming Ghanaian traders, as many foreign products enter the market unregulated. Stating that his administration aims to regulate the import market to support local businesses. “We must industrialize to develop Ghana,” Bediako stressed. “Our administration is committed to creating an enabling environment for businesses to thrive, and we will work tirelessly to ensure that our economic policies benefit all Ghanaians, especially the youth.”

He outlined a comprehensive industrialization plan to drive economic growth, create opportunities for the youth, and support local businesses. Stressing the need for innovative business ideas and a shift from the traditional reliance on natural resources.

He highlighted the struggles of local companies facing collapse due to high taxes and promised to implement reasonable tax policies to protect and promote indigenous companies.

The GUTA President, Dr. Joseph Obeng, highlighted several challenges facing traders and businesses, including high inflation and excessive taxes, which are affecting their operations. He asserted that Ghana can achieve meaningful economic reform only through greater representation of business interests in politics.

“Business leaders have to take over the governance of Ghana in order to stimulate economic growth,” Dr. Obeng declared. He expressed concern over the growing disillusionment within the business community towards mainstream politicians, stating, “People are tired of mainstream politicians. It is time for business-minded people to take over the leadership of this nation.”

Dr. Obeng emphasized the frustration among traders and business owners with the current political landscape, stressing the need for change. “It is sad people pay more attention to only mainstream politicians, but this narrative needs to change as a matter of urgency,” he said. He suggested that Bediako, being a businessman, aligns well with the trading community’s belief that he could address economic issues more effectively. “The cedi is becoming weaker by the day. Measures should be put in place to address this matter because it is really affecting us,” he lamented.

Dr. Obeng also noted the high cost of doing business in Ghana, exacerbated by steep taxes and import duties. He warned mainstream politicians that the upcoming election might be their last chance to redeem themselves in the eyes of the business community. “Mainstream politicians should pay attention to conversations going on and take Ghanaians seriously by handling matters of the economy more seriously,” he urged.

Nana Kwame Bediako echoed these sentiments, highlighting the critical impact of economic instability on businesses. “When the currency is not doing well, businesses will not do well. The rising inflation rate is killing businesses,” he said. He called for a governance model that fosters progress and prosperity, advocating for internal wealth creation.

Nana Kwame Bediako lamented that the depreciation of the cedi is a consequence of not creating value within the country. He urged GUTA members to position themselves strategically in the marketplace. “GUTA, start thinking about how you can take the position of the foreign traders here. Let us focus on creating distribution channels. The supply chain will launch us into great wealth.”

“My biggest concern is not just the people suffering but how long they are going to suffer. I don’t know how the next generation will cope if things don’t change. Let the focus shift from enriching foreign nationals in Ghana. We are losing our people to brain drain due to bad policies and it is sad,” he added.

This exchange between Nana Kwame Bediako and GUTA underscores the growing desire within Ghana’s business community for a more significant role in shaping the nation’s economic policies. Their call to action highlights the critical need for a shift in the political landscape to better address the economic challenges facing Ghana.7

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