Business News of Tuesday, 30 August 2016Source: 3news.comForeign retailers push rent charges to over 300%File photoThe influx of foreign retailers in the country is not only putting Ghanaians out of business but also increasing rent charges astronomically especially in the central business district of Accra. They recounted how landlords in the Central Business District of Accra have increased their rent charges in some cases by over 300%. This is because these foreign retailers are ready to pay the exorbitant rent charges. According to him, GUTA has over the years engaged government to flush out these foreign retailers, however not much has been achieved. GIPC Act 2013 (Act 863) allows only foreign retail businesses with a minimum capital of One million dollars to operate in the country.

Source: GhanaWeb August 30, 2016 10:41 UTC