Business News of 2012-07-03

IMANI Ghana: Law prohibiting foreigners from retailing is senseless

Vice President of IMANI Ghana, Kofi Bentsil has labeled as bad and counter-productive the law barring foreigners from engaging in petty trading in retail markets.

The Trade Ministry is expected to begin an exercise from Tuesday to remove non-Ghanaians engaged in retail business at market centres which are reserved for indigenes.

But Mr Bentsil has warned that applying the law will have serious repercussions for Ghanaians abroad engaging in similar trading activities.

In an interview on Joy FM’s Super Morning Show Tuesday, Mr Benstil stated that the law, though in the nation’s statutes, does not make sense at the moment and only amounts to antagonising foreign traders.

“Do you choose to apply a law to cut your nose to spite your face?” He asked, wondering why government will seek to apply this law at a time when the nation is preparing towards elections.