Former Trade and Industry Minister, Alan Kyerematen, has called for a deliberate push to transition members of the Ghana Union of Traders Association (GUTA) from the informal sector into formal businesses to unlock growth opportunities.
Speaking at the inauguration of new GUTA national executives in Accra on April 10, Alan Kyerematen said a structured plan to formalise operations would allow traders to access financing, expand their businesses and operate more competitively.
“GUTA leadership must develop a Plan to transition majority of GUTA members from informal to formal businesses, to take advantage of financial and other business opportunities,” he stated.
Mr Kyerematen noted that although GUTA represents a significant portion of Ghana’s business community, many of its members still operate outside formal systems, limiting their ability to benefit from available support.
He also proposed a policy shift that would require micro, small and medium enterprises (MSMEs) to belong to recognised trade associations as a condition for maintaining their business licences.
“In order to expand the membership base of GUTA and enhance its contribution to national development, Government should consider introducing regulations that will require all MSMEs to register with a Business or Trade Association,” he said.
The former minister further urged traders to comply with tax obligations, stressing that broader participation in the tax system would strengthen the economy. However, he argued that government must first make compliance more attractive.
“For this to become a reality, Government should consider reducing the tax burden on Micro, Small and Medium Enterprises, to ensure greater compliance,” he added.
He also encouraged GUTA leadership to introduce welfare-focused initiatives such as pension and scholarship schemes for members, saying such interventions would improve loyalty and strengthen the association.
Mr Kyerematen urged the new executives to reposition GUTA as a more influential voice in national development, backed by a stronger and more organised membership base.
