Glo pull out threats, potential Ghana-Nigeria trade war?

The recent threats by mobile operator, Glo, to quit the country, appear to be sparking a potential trade war between Ghana and Nigeria.


This follows a publication in the Nigerian newspaper, Business Daily linking Glo’s frustrations to what Nigerian traders say is a grand scheme by the government to clamp down on their businesses in Ghana.


The President of the Nigerian Union of Traders in Ghana, Jasper Amenike alleged in the publication of a concerted effort between the Ministry of Trade and the Ghana Investment Promotion Council to ensure that Nigerian businesses do not succeed.

Mr. Amenike further cited the shutdown of 83 shops belonging to Nigerian traders in the past seven months with 550 others expected to follow soon.

Glo’s threat to pullout, Amenike noted, was a confirmation of government’s anti-Nigerian stance.

At the heart of the traders’ complaint however, is a clause in Ghana’s Investment code requiring all foreigners interested in engaging in the retail trade to have a minimum capital of at least $300,000.

They say this is in violation of the ECOWAS protocol on free trade and movement of people.

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According to the publication, a top level Nigerian delegation to Ghana on Monday led by its Minister of Foreign Affairs and Minister of State for Commerce and Industry was unable to workout an amicable solution.

Officials of the Trade Ministry approached by Joy Business were yet to comment on the matter.

Source: Joy Business/Myjoyonline.com/Ghana