The Chief Executive Officer of Basfam Company Ltd in Kumasi Alhaji Musa Abubakari has disclosed that alleged lack of oversight regarding the types of businesses foreigners are permitted to operate in Ghana tend to discourage Ghanaian entrepreneurs and stifle the nation’s economic potential.
In a press release issued this’ll morning to the media houses, Alhaji Abubakari highlighted that businesses are traditionally reserved for Ghanaian entrepreneurs are increasingly being taken over by foreign entities, who then reap substantial profits.
He specifically cited the large scale commercial importation of rice, the operations of shopping malls and supermarkets as prime examples where foreign operators now dominate.
He said some businesses that are not allowed by foreigners to operate have now been taken over by aliens who make big profits from them, Alhaji Abubakari stated.
According to him a Ghanaian would not be allowed to operate such businesses in the advanced countries except for products that hard to come by in those nations.
He further alleged that certain foreigners in the country have leveraged their wealth and influence to capture vital business opportunities that could otherwise be established by Ghanaians and thereby creating essential jobs for citizens.
Alhaji Abubakari questioned about how many Ghanaians own profitable businesses including mall trading outfits in the country today.
The Basfam CEO drew attention to the plight of local rice farmers who struggle to find fair prices for their produce or adequate market avenues.
This is because foreigners manage to import commercial quantities of rice into the country and sell them at a cheaper price, apparently to discourage local buyers from patronizing local rice, he explained.
While acknowledging challenges, Alhaji Abubakari also urged local consumers to prioritize homeland products, emphasizing that every citizen is used to his own country’s goods.
Alhaji Musa Abubakari who also serves as the Chairman of the Muslim Executive Foundation a pro Muslim Non Governmental Organisation, stressed the urgency of government intervention.
He called on the government to immediately compel the state institutions to patronize the local rice.
He further advocated for widespread awareness campaigns to foster a collective national goal of supporting “Made in Ghana” products for the benefit of the current and future generations.
Finally, Chairman Abubakari appealed to the government to critically review and tighten regulations on foreign business operations in Ghana cautioning that without swift action foreigners could eventually take over all jobs in the country to the disadvantage of Ghanaian citizenry.pppp
