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$300,000 Capital Base: Ghana Soft-Pedals

$300,000 Capital Base: Ghana Soft-Pedals

There are strong indications that Ghanaian authorities have soft-pedalled on the demand that businesses outfits produce $300,000 as capital before operating in Ghana.  

SATURDAY PUNCH gathered in Abuja on Thursday that this followed mediation by some members of the Economic Community of West African States.

The member states drew the attention of Ghanaian authorities to existing ECOWAS protocols on the movement of goods and persons within the sub-region. A hint about the new state of affairs was dropped by the Chairman, House of representatives Committee on Diaspora; Mrs. Abike Dabiri-Erewa, at a dinner organised by the Nigeria Diaspora Alumni Network, in Abuja, on Wednesday night.  

Dabiri-Erewa recalled that Nigeria sought the intervention of ECOWAS and the commission was able to intervene positively towards resolving the issue.  

She said, “When the Ghanaians asked foreign businesses to leave, we knew they were targeting Nigerians, and then they asked for a $300,000 capital base.  

“We took the matter to ECOWAS and now Ghana has again said we are all brothers, but there are some laws that have to be followed such as those concerning registration of businesses.”

A formal announcement on the cessation of hostilities is expected soon.

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