China Malls in Kumasi are a threat to retailers –Traders Union

The President of the Federation of Kumasi Traders (FKT), Nana Akwasi Prempeh, has noted that the number of China Malls sprouting in Kumasi and other parts of the country is a threat to local retail sector.

He disclosed that the proliferation of China Malls in the Kumasi metropolis and other parts of the region was affecting the retail sector, explaining that products sold at the local market are now being sold at these Malls at cheaper prices.

Speaking to the media on the sidelines of Transparency International Ghana forum on Advocating Policy Reform for a Positive Investment Environment in Ghana, in Kumasi, Nana Prempeh disclosed that these products, sold at cheaper prices at the Malls are being produced by Chinese, in their mother country.

As a result of this, they (Chinese) get it at cheaper prices from the producers, unlike Ghanaians who have to change Cedis into dollars to buy from them before selling in Ghana.

According to him, Chinese manufacturers back home can give them their products on credit basis to come and sell in Ghana and pay back.

Nana Akwasi Prempeh referred to Nigeria, where foreigners are not allowed to do retailing and urged government to enforce the law restricting foreigners from   engaging in retailing, but compelled to go into wholesaling to ensure fair competition and save the retail sector as well.

From Oswald P. Freiku, Kumasi

 

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