Ghana Investment Promotion Authority (GIPA) chief Simon Madjie told Joy News’ PM Express Business Edition that the government’s model markets are the key to curbing foreign participation in the country’s informal retail sector. He said the markets would enable regulators to better control trading spaces and enforce restrictions on non‑Ghanaians.
“The law reserves it for Ghanaians. So regardless of whatever amount of money you bring in, you are not expected to be there,” Madjie said, underscoring that informal retail is a Ghanaian domain. He warned that the main hurdle is enforcement and called for tighter coordination among agencies that manage markets.
Madjie noted that the model markets, built under former President John Mahama, provide more than just stalls; they come with fire services, security and other infrastructure that he believes will solve long‑standing issues. He also highlighted a common confusion between trade and investment, arguing that the two are distinct and that Ghana does not relax rules to attract foreign investors.
He added that both domestic and foreign investors must comply with the country’s regulations, noting that internationally listed companies face accountability systems that can affect their shares abroad. GIPA is also working on after‑care solutions for businesses dealing with VAT or tax collection challenges, aiming to level the playing field for local partners.
Madjie concluded that the model markets represent a practical solution to the problem of foreign traders in informal retail, offering structure and regulation to protect Ghanaian traders.
