| | Business 
[ 2012-04-12 ] 

Archive: Some market women protesting in Accra Local traders issue ultimatum to foreigners involved in retail trade Foreigners engaging in retail trade in the country
have up to the end of June to quit operations, the
Ghana Union of Traders Association (GUTA) has
warned.
The Association issued the directive after it
signed a Memorandum of Understanding with other
stakeholders.
This forms part of measures to safeguard the
sector reserved for indigenes as in the country’s
investment law.
Local traders have complained severally about the
continuous invasion of the retail sector by
foreigners.
But GUTA’s President, George Kweku Ofori told Joy
Business the foreigners have up to June to quit
their operations or face the consequences.
The current investment laws restrict foreigners
from engaging in retail trade in market reserved
for Ghanaians unless they have at least 300,000
dollars as initial capital.
Meanwhile, government is however working to up the
capital to about a million dollars. Source - Joy News

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