Abstract:
This study investigated the impact of the Ghanaian investment law on the operations of Chinese trading activities, especially in the wake of protest by the Ghanaian traders leading to the amendment of the law, which now makes engagement in trading in the central business district by foreigners more stringent. Despite the amendment of the law, some of the local traders are still having issues with the presence of the Chinese traders in the market.
The study sought to examine the impact of the amended GIPC Act (865), 2013 on the Chinese traders in the central business area of Accra. Five Chinese immigrant traders as well as six Ghanaian traders at the Okaishie market were interviewed. Officials from the Ghana Union of Traders Association (GUTA), Ghana Immigration Service, Ghana Investment Promotion Centre (GIPC) and the Ministry of Trade and Industry were also interviewed.
The study revealed that the amendment of the GIPC Act (865), 2013, has had very little effect on the operations of the Chinese traders. This is because the Ghanaian Union of Traders Association is divided into supporters and opponents groups. The supporters group are prepared to protect the interest of the Chinese traders even though their presence contravene Ghanaian investment laws more especially because, according to them, the Chinese offer them jobs which makes it possible for them to eke out a living.
Prior to the arrival of the Chinese traders, very few Ghanaian could afford to buy from the minority trading group but the Chinese sell their goods at competitive prices and even gave discount to them at times. The study recommended, among other things, that GIPC Act (865), 2013, must be enforced to the letter and foreigners must be made to respect the laws of Ghana in as much as they are investors and Ghana needs investments.
