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Business News of Tuesday, 18 August 2020

Source: bbc.com

Nigerian traders fear being forced to quit Ghana

File photo: Traders File photo: Traders

Foreign shop-owners in Ghana - the majority of whom are Nigerian - say they fear they have little choice but to leave the country after their businesses were sealed.

"We are used to shops being locked, but this is the first time the government is involved," the head of the Nigerian Traders' Association in Ashanti region told the BBC.

Under Ghanaian law foreign citizens are required to have an investment of at least $1m (£750,000) to trade in the country, which many complain is extortionate.

A spokesman for Ghana's trade ministry, Prince Boakye Boateng, told the BBC the government was forced to act because the businesses failed to comply with the rules.

The businesses had only reopened in July after being shut for six months, thanks to discussions between the Nigerian and Ghanaian governments.

That had followed a dispute with the Ghana Union of Traders Association, which accused foreign traders of unfair competition and breaking the rules.

Alhaji Abdulaziz Ibrahim, the head of the chancery at the Nigerian High Commission in Ghana, told BBC the two countries enjoy "a special relationship", are speaking "at a government to government level" and "expect a swift resolution".