Ghana’s delegation to ECOWAS Parliament has assured of measures to end the age-old trade feud between Ghanaians and Nigerian traders once and for all.
Speaker of Ghana’s parliament Alban Bagbin on a trip to Nigeria announced a decision to review the GIPC Act which bars foreigners from engaging in the retail business.
Speaking to Kasapa News at an engagement on impending delocalized ECOWAS meeting next week at Winneba, leader of Ghana’s delegation to the sub-regional parliament, Alexander Afenyo-Markin stated all unfair trade practices in both Ghana and Nigeria must end.
The current tensions between the two countries are being blamed on bilateral trade differences.
There is an existing law that bars foreigners from retail trade – and Ghanaian traders do not want the Nigerian traders in the markets.
Ghana’s law and the current crisis
- Foreigners in Ghana can’t run small retail shops, but they can own wholesale firms or other businesses in which around $1m (£782,000) has been invested
- The law is intended to protect smaller local traders and those running small businesses like barbers or beauty salons, but is not always enforced.
- Market traders have sometimes taken the law into their own hands, which prompted the authorities to do an audit of retail shops in August 2020 and close some Nigerian-run stalls.
- Foreigners married to a Ghanaian are exempt from the laws – as are those in a business partnership with a Ghanaian.
Touching on the upcoming delocalized meeting scheduled for July 27, 2021, spokesperson for Ghana’s delegation to ECOWAS Parliament Mahama Ayariga stated the meeting will seek to remove telecommunication barriers in the sub-region including roaming charges.
Source: Kasapafmonline.com
