The Ghana Investment Promotion Authority (GIPA) and the Ghana Union of Traders Association (GUTA) have agreed on measures to protect Ghanaian-owned informal retail businesses.

🇬🇭 Here's What Happened

The measures include stronger monitoring and enforcement, public education and a reporting mechanism for suspected breaches of laws governing activities reserved for Ghanaian citizens.

The agreement, GIPA said in a statement copied to the Ghana News Agency, followed a meeting convened under the directive of the Ministry of Trade, Agribusiness and Industry (MoTAI), led by Mr Simon Madjie, Chief Executive Officer of GIPA, with support from Mr Abdul Razak Baba, Deputy Chief Executive Officer.

The meeting was attended by national executives of GUTA, representatives of the Internal Trade Unit of MoTAI and senior GIPA officials.

📌 Key Details

The statement said concerns were raised about the practice of Ghanaians fronting for foreign nationals to conceal foreign ownership or control of businesses operating in sectors reserved for citizens or subject to higher capital requirements.

GIPA said it and GUTA reaffirmed their commitment to protecting livelihoods in the informal retail sector, upholding Ghana’s investment laws and promoting a fair, orderly and lawful business environment.

It said Mr Madjie reaffirmed that informal retail activities, including open markets, small shops and kiosks, were reserved exclusively for Ghanaians under the GIPA Act, 2026 (Act 1117).

It said he noted that Ghana remained open to foreign investment in the formal retail sector, including malls and supermarkets, but foreign investors were required to comply with the country’s investment laws.

“The informal retail space by law is reserved exclusively for citizens of Ghana, and that is non-negotiable. Regardless of the amount of money you bring, you cannot enter the informal retail space because that market is reserved for Ghanaians,” Mr Madjie noted.

The statement said the GIPA Chief Executive Officer pledged to work with GUTA and relevant authorities to address the practice of Ghanaians fronting for foreign companies.

📰 Source: Joy Online Ghana