Ghana must close loopholes that make foreigners exploit trade sector — Dr. Agyekum-Obeng

A member of the New Patriotic Party (NPP) communication team, Dr. Ezekiel Agyekum-Obeng, has urged government to tighten Ghana’s trade laws to prevent foreigners from exploiting loopholes in the system.

His comment comes on the back of growing concerns by the Abossey Okai Spare Parts Dealers, who have accused foreign nationals of taking over retail activities in clear violation of the country’s laws.

Speaking on Channel One TV’s Breakfast Daily on Tuesday, September 9, Dr. Agyekum-Obeng argued that many foreigners take advantage of weak regulations by fronting their businesses through supposed Ghanaian partners.

“A lot of people are running under the scope of partnership to allow foreigners do businesses in this country, which they are not permitted to. On paper the concession may be owned by a Ghanaian, but in reality it is controlled by a foreigner,” he said.

He further observed that the practice is not limited to the retail sector but extended to areas like small-scale mining, where similar arrangements allowed foreigners to bypass regulations.

Dr. Agyekum-Obeng also raised concerns about the unfair advantages some foreign businesses enjoy through tax amnesties, which he said place local entrepreneurs at a disadvantage.

“Sometimes these foreign companies are granted three to five years of tax amnesty. They operate, make wealth, then change ownership and continue to enjoy more years of exemptions, while local businesses are left struggling. This pushes Ghanaian enterprises out of competition,” he stated.

He called for a comprehensive review of trade and investment laws to protect local businesses and ensure a level playing field in the market.