The Nigerian business community in Kumasi is seeking avenues to jaw-jaw with the Ghana Union of Traders Association (GUTA) to protect mutual interests.
The Ministry of Trade has opted to relax its crackdown on violators of the law against foreigners engaged in the retail trade by giving them one more month to regularize their businesses. After several postponements, the inter-agency task force on Tuesday commenced action, closing down some of the shops in the Greater Accra region. ECOWAS nationals were however spared in the operation.
Similar exercise is expecting to hold in other markets across of the country, including the Ashanti region, when the one month expires.
Over 800 Nigerian traders in Kumasi come under the Nigerian Union of Traders Association, Ghana (NUTAG). Paul Obi, who has been trading in Kumasi for the past 20 years, tells Luv Biz Report the Nigerian traders are ready to comply with any government directive. He however said the Ghanaian authorities should be cautious not to breach the long-standing relationship between the two West African countries.
Mr. Obi is hopeful ongoing talks will amicably foster the socio-cultural, economic and political relationship between Ghana and Nigeria. The Ghana Investment promotion law bars foreign traders from retailing unless they invest an initial capital of 300 thousand dollars.
Minister of Trade and Industry, Hannah Tetteh, says government recognised the right of foreigners to establish businesses in the country but needed to abide by all legal requirements.