The President of the Parliament admits not having the right to modify the law GIPC – GUTA

Following the meeting between Speaker of Parliament Alban Bagbin and leaders of the Ghanaian Traders Association (GUTA), Association President Dr Joseph Obeng said the President admitted that he was not entitled to amend the Ghana Investment Promotion Center (Act), Act 865 of 2013.

In a press release signed by Dr Joseph Obeng, GUTA members expressed their gratitude to the president, saying they will report back to them with his assurances – that he represents the people of Ghana and supports Ghanaian traders in all sincerity.

Meanwhile, Speaker of Parliament Alban Bagbin said his statement regarding the Ghana-Nigeria feud in the Nigerian Parliament had been misinterpreted by Ghanaian traders.

Addressing a delegation from GUTA, led by its chairman, the chairman said he would not speak out against Ghana’s business community in any way.

The President’s statement to the Nigerian Parliament was designed by GUTA as an exemption for Nigerian traders from the minimum capital requirement of $ 1 million, under the 2013 GIPC Act, Act 865 – in a joint statement between Ghana and Nigeria alongside the Extraordinary ECOWAS Summit.

GUTA management expressed gratitude to the Speaker of Parliament for granting them a hearing to reaffirm their position that the GIPC Act is all that curbs insecurity and unfair business practices in the retail space of Ghana. .