Business News of Saturday, 25 February 2017
The Rent Control Department has advised government to facilitate the building of affordable stores for traders at the Central Business Districts.
According to it, the move has become important as many shop owners are increasing their rents due to the influx of foreigners in the retail business.
Many Ghanaian traders are complaining of high shop rates in recent times as they lose shops to foreigners who have the financial muscle to satisfy shop owners.
The Public Relations Manager at the Rent Control Department, Twum Ampofo told Starr Business’ Osei Owusu Amankwaah that, affordable shops will be a good initiative to address the issue.
“We talk of putting up properties; for instance as they are talking about putting up affordable houses they can also put up stores. So that if anything at all, the pressure of paying rent advance can be regularized. So we have to think of affordable stores being built by the State”.
Legislation on shop renting is absent in Ghana laws. Shop owners are taking advantage of the lacuna to oppress their tenants. Some of the traders told Starr Business, government must pay attention to the area as it is becoming lucrative.
Some residential facilities in and around the Central Business District in Accra are converting their residential facilities into shops.
“Anytime you see someone breaking down a residential facility in this area, be sure part or all of it will be converted into a shop,” a trader at the CBD said.