The Minister for Trade, Agribusiness and Industry, Hon. Elizabeth Ofosu-Adjare, has reaffirmed the government’s commitment to attracting foreign investment while issuing a strong warning against foreigners engaging in retail trade in violation of Ghana’s laws.
The Minister said Ghana remains open for legitimate business and investment, but will not tolerate activities that breach the country’s investment and trading laws, particularly those that reserve retail trading for Ghanaians.
“We are open to everything legitimate. We invite you to trade and invest within the law, but do not violate Ghana’s laws by engaging in retail trade.’’
Hon.Ofosu-Adjare
Hon. Ofosu-Adjare made the declaration when she received a joint report from the Ghana Investment Promotion Centre (GIPC), the Ghana Union of Traders Association (GUTA) and the Nigeria Union of Traders Association in Ghana (NUTAG) in Accra.
The meeting was convened to address longstanding tensions in the retail trading space between Ghanaian traders and some foreign nationals, and to receive findings from a joint monitoring exercise conducted in major markets in Accra, Kumasi and Takoradi.
Govt. Committed to Fair, Business-Friendly Environment
According to the Minister, government remains committed to creating a fair, business-friendly environment that protects Ghanaian businesses while promoting industrialization and sustainable economic development.
She noted that Ghana’s investment laws are not designed to frustrate foreigners but to create a structured and complementary economy where foreign investment supports industrial growth and job creation, rather than competing with local micro and small enterprises.
“Our laws are clear. The Ghana Investment Promotion Centre Act, 2013 (Act 865) reserves retail trading for Ghanaians. Foreigners are welcome to invest in manufacturing, agribusiness, agro-processing, commercial contract farming, export trade and other high-value sectors that create jobs and add value to our economy.”
Hon.Ofosu-Adjare
She encouraged foreign investors, including Nigerian trader’s resident in Ghana, to take advantage of vast opportunities in agribusiness value chains, manufacturing under the government’s industrial transformation agenda, and commercial contract farming where Ghana has comparative advantage.
The Minister said the Ministry will continue to work with GIPC, GUTA and other stakeholders to streamline investment processes, provide information on priority sectors and facilitate partnerships between local and foreign businesses.
Report Details of Compliance Challenges
Presenting the joint report, representatives of GIPC, GUTA and NUTAG outlined findings from recent market inspections which revealed that some foreign nationals were still engaged in retail trading in markets such as Makola, Okaishie, Opera Square, Kejetia and Central Takoradi, contrary to the GIPC law.
The report also highlighted issues of unregistered businesses, undercutting of prices, and the use of Ghanaian front companies to secure shops, which has created friction between Ghanaian traders and some foreign retailers.
Leaders of GUTA welcomed the Minister’s firm stance, saying it brings clarity and assurance to their members who have long complained about unfair competition and enforcement gaps. They said Ghanaian traders are not against foreign nationals but want the law to be respected and applied evenly.
The President of the Nigeria Union of Traders Association in Ghana, on his part, pledged his union’s commitment to ensuring its members comply with Ghana’s laws. He said the union has been sensitizing its members to transition from retail to wholesale, importation and other legitimate sectors allowed under the law.
He also appealed to the government to continue dialogue and provide clear pathways for regularization, including guidance on minimum capital requirements and joint venture opportunities.
‘’Focus on Manufacturing and Agribusiness,’’Hon. Ofosu-Adjare used the occasion to outline the government’s broader industrialization agenda, noting that Ghana’s future growth depends on shifting from import dependency to local production and value addition.
She said government is prioritizing investment in agribusiness, manufacturing, agro-processing and commercial contract farming as key drivers of jobs, foreign exchange and food security. Under the 24-Hour Economy and Accelerated Export Development programme, the Ministry is offering incentives for factories that operate multiple shifts, process local raw materials and export finished products.
“Instead of bringing finished goods to sell in our markets, we invite you to set up factories here, produce here, create jobs for our youth and export from Ghana. That is the partnership we are looking for.”
Hon. Ofosu-Adjare
She cited opportunities in processing of cocoa, cashew, shea, palm oil, rice and poultry, where Ghana currently spends hundreds of millions of dollars on imports despite having local production potential.
Commercial contract farming, she added, offers a win-win model where foreign investors provide capital and off-take guarantees while Ghanaian farmers supply raw materials.
Enforcement and Dialogue to Continue
The Minister announced that the Ministry, in collaboration with GIPC and the Ghana National Association of Garages, will intensify enforcement of investment laws but will do so through stakeholder engagement and education, not harassment.
She disclosed that a standing inter-agency taskforce comprising the Ministry, GIPC, Ghana Revenue Authority, Ghana Immigration Service and the trader associations will continue market monitoring and also serve as a grievance redress mechanism to prevent clashes.
The taskforce is expected to provide monthly reports to the Ministry and recommend sanctions where violations are established, while also facilitating the regularization of businesses willing to comply.
Hon. Ofosu-Adjare also cautioned against xenophobic rhetoric, stressing that Ghana values its ECOWAS obligations and Pan-African solidarity. She said government will protect both Ghanaian and legitimate foreign businesses and will not condone attacks on shops or property.
“Ghana is a hospitable nation. We respect ECOWAS protocols and we protect all businesses operating lawfully. Our message is not against any nationality. It is about law, order and fairness.”
Hon.Ofosu-Adjare
The Ministry is expected to hold similar engagements in Kumasi and Takoradi in the coming weeks as part of its nationwide sensitization campaign on investment laws and priority sectors for foreign participation.
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