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Gbajabiamila urges review of $1m business capital by Ghanaian government

Africa

Gbajabiamila urges review of $1m business capital by Ghanaian government

Gbajabiamila urges review of $1m business capital by Ghanaian government

Speaker of the House of Representatives, Femi Gbajabiamila, has called on the Ghanaian authorities to revisit the component of its Investment Promotion Centre (GIPC) Act 2013 (Act 865) that requires a starting capital of $1 million for businesses in the spirit of brotherliness.

During a meeting with his counterpart, Prof. Aaron Michael Oquaye in Accra, he expressed his resolve to improve the bilateral trade relations between Nigeria and Ghana, noting that the citizens of the two nations remain brothers and sisters.

This, Gbajabiamila argued would bring an end to the attacks on Nigerian traders in the West African country. He canvassed amicable settlement of trade disputes through arbitration and fair judicial processes.

The Speaker said to improve bilateral relationships among African nations, he had been championing the creation of the Conference of Speakers and Heads of African Parliaments (CoSAP) to identify, discuss and resolve issues and challenges that affect growth, stability and development.

Gbajabiamila implored both nations to embrace legislative diplomacy in settling the matter at hand. He noted that the advocacy was most appropriate since Oquaye and himself had in the past resolved economic issues through mediation and conciliation.

Also speaking, Ghana’s Trade Minister, Alan Kyeremanteng, insisted that the law was not targeted at specific nationals, outlining ways for mutual trade relations.

But Speaker Oquaye, who pledged good intentions, pointed out that reports on the matter might have escalated tensions, cautioning that private or commercial arrangements between individuals and organisations of the two countries should not be confused for official engagements.

On Sunday, the Minister of information, Kojo Oppong Nkrumah, had sent a six-page response to the alleged harassment of
Nigerians in his home country.

Chronicling the supposed history of hostilities, the Federal Government had declared that it would no longer tolerate the unfriendly acts.

In a statement by the Minister of Information, Lai Mohammed, the Nigerian government said it was urgently considering “a number of options at ameliorating the situation.”

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