Nigerian traders in Ghana are crying foul over the Ghana Investment Promotion Centre's (GIPC) directive for foreign businesses within the retail sector to pay US$ 300,000 to the centre as operational seed capital. A number of foreign owned shops have been closed.
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This action came as a result of a series of demonstrations by the Ghana Union of Traders Association (GUTA) to protest against foreigners, particularly the Chinese, from taking over the retail business. GUTA argues that according to the business code of Ghana, retailing is the preserve of Ghanaians and the government has a responsibility to protect Ghanaian retailers.

The laws of Ghana also say that if a foreigner wants to operate within the retail sector he would have to raise and deposit an amount of US$300,000 as well as appoint at least 20 Ghanaians. GUTA alleges that most foreigners avoid this statutory condition by fronting Ghanaians as the owner of their shops while they hide behind the scenes to do business. The association has therefore called on Government to review the required operation capital for foreigners upward.

The GIPC has since closed down some shops that do not meet these requirements. The Nigerian association of traders in Ghana have since called on the GIPC to re-look its decision to close down some Nigerian shops, arguing that the move contradicts the ECOWAS protocol on free movement of goods and people within member states. They say it is unfair to their businesses. The association argues that the said business code does not affect ECOWAS member states.

They also alleged that some of their members have been harassed and threatened by members of GUTA, and they have called for protection from Government. GUTA has denied these allegations and the GIPC says that its decision is not in contradiction with the ECOWAS protocol on free movement of goods. The GIPC says that the Nigerian shops that were closed down do not even trade in Nigerian made goods but rather imported goods from Asia, Europe and America.

He has urged the affected Nigerian companies to do the right thing by complying with the laws of Ghana. Meanwhile, there are reports that Ghanaian traders in Nigeria, particularly Ikeja, are being harassed by some Nigerians in retaliation of events in Ghana. In the 1980's many Ghanaians in Nigeria were brutalized and driven out of Nigeria in what is now termed 'Ghana Must Go’. Lets hope it's not going to happen again.
Source/Credits: Ameyaw Debrah-Africa News

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