Following the meeting between the Speaker of Parliament, Alban Bagbin and leadership of the Ghana Union of Traders Association (GUTA), President of the Association, Dr. Joseph Obeng, has stated that the speaker has admitted he had no right to amend the Ghana Investment Promotion Center (Act), Act 865 of 2013.

In a press statement signed by Dr. Joseph Obeng, members of GUTA expressed gratitude to the Speaker, saying they will hold to account his assurances to them – that he represents the people of Ghana and supports Ghanaian traders in all sincerity.

Meanwhile, the Speaker of Parliament, Alban Bagbin, has said that his statement regarding Ghana and Nigeria retail feud on the floor of the Nigerian Parliament was misconstrued by Ghanaian traders.

Speaking to a delegation of GUTA, led by its President, the Speaker stated that there is no way he will speak against Ghana’s trading community.

The Speaker’s statement to the Nigerian Parliament was conceived by GUTA to be an exemption of Nigerian traders from the $1 million minimum capital requirement, under the GIPC Act 2013, Act 865 – as part of a joint communique between Ghana and Nigeria on the sides of the Extraordinary ECOWAS Summit.

Leadership of GUTA expressed gratitude to the Speaker of Parliament for granting them an audience to re-emphasize their position that the GIPC Act, is all that holds the brakes to insecurity and unfair trade practices in Ghana’s retail space.