Nigerians Businesses in Ghana Closed Down

After a 4-month grace period ended, the Ghanaian government have begun to expel illegal foreign traders from their stores despite a request from the Economic Community of West African States (ECOWAS) parliament

Yesterday, the Ghanaian minister for Trade Hannah Tetteh was interviewed by the BBC, where she explained in detail that the excercise was merely to expel those who were not in compliance with the Ghana Investment Promotion law, which requires foreign traders in the country to invest an intial capital of $300,000 (approximately N49 million) and may require at least 10 Ghanaians to be employed by the fir

She said the law, which allowed the removal of the foreign retail traders from markets, was in conformity with the ECOWAS Protocol.

Also Read:  A wife contemplates divorcing husband of 50years to save his life

A task force of under the Ministry of Trade and Industry started going round the markets in Accra on Tuesday to close down shops of foreigners engaged in the illegal retail trade business.

The Inter Agency Task Force is made up of officials from the Registrar-General’s Department, Ghana Investment Promotion Centre, the Ghana Revenue Authority, Police, Immigration Service, the Ministries of Trade and Industry, and Foreign Affairs.

The Nigerian business community, especially, is demanding a review of the action while the Vice President of a policy think-tank, IMANI Ghana, Mr. Kofi Bentil, has cautioned against “protectionism”.

Mr Bentil said if the law allowing Ghana to take the action was bad, the implementation was even worse, fearing other countries might retaliate and Ghanaians living in those countries will be the losers.

Also Read:  Anxiety mounts in Kenya over delayed result

Leave a Reply

Your email address will not be published.

six − 3 =