Business News of 2014-07-05

Taskforce to enforce law on retail trading - Minister

Mr Haruna Iddrisu, Minister of Trade and Industry, on Friday assured that a 13-member taskforce would be formed to deal with the issue of foreign traders engaging in retail trading in the country.

He said the taskforce would comprise of personnel of the Ghana Police Service, Ghana Union of Traders Association, Ghana Revenue Authority and officials of the Ministry of Trade and Industry.

He said in the course of its operation, the taskforce would also look out for related issues such as tax evasion, especially, those dealing in textiles.

Addressing the media in Accra, Mr Iddrisu said retail trading, petty trading, hawking and all kinds of trading in the market were by law, reserved for only Ghanaian nationals, stressing that, it is illegal for any foreigner to engage in such trading activities.

He said Section 18 of the Ghana Investment Promotion Centre Act 1994 (Act 478) stipulates clearly businesses that are exclusive to Ghanaians, and it includes taxi or car hiring services as well the operation of barbering and beauty salons among others.

He said the government of Ghana is mindful of its obligation under the Economic Community of West Africa States (ECOWAS) Treaty, but not in the exclusive areas which the laws of Ghana have reserved for its nationals.

He, however, assured that Ghana still remained open to foreign investment and partnerships.

Mr Iddrisu also cautioned Ghanaians, who give their shops to foreigners for the purpose of retail trading to stop, as it is an infringement of the law.

He said the taskforce, which would be inaugurated very soon, would operate in the various markets across the country, especially in Accra and Kumasi to ensure the functionality of the law governing retail trading.