Ghana considers reviewing $1m business requirement

Ghana considers reviewing $1m business requirement

Speaker of the House of Representatives, Femi Gbajabiamila (L), and President of Ghana, Nana Akufo-Addo, discuss bilateral relations on September 3, 2020

Ghanaian President, Professor Nana Akufo-Addo after a meeting with the Speaker of the House of Representatives, Hon. Femi Gbajabiamila on Thursday, September 3, 2020 said that he is open to reviewing his country’s $1m capital base requirement for foreign businesses.

This was disclosed in a statement by Nigeria’s House of Representatives on Friday, September 4, 2020.

At the meeting with the Ghanaian President, Femi Gbajabiamila asked for a review of the law, according to a statement signed by House spokesman, Hon. Benjamin Kalu.

In response, President Akufo-Addo said the request was in order as it “makes a lot of sense”, the statement said.

Gbajabiamila was visiting Ghana on a “legislative diplomacy” over hostilities against Nigerians living in the West African country.

The Ghanaian President expressed satisfaction with Gbajabiamila’s visit, endorsed his proposal for the establishment of a ‘Nigeria-Ghana Business Council’ established by law in both countries, and additionally suggested the setting up of a joint ministerial committee between the two countries that will “shepherd” issues between Ghana and Nigeria.

Uchechi Ojo
Uchechi Ojo, is a Lagos-born and based writer, newscaster and voice-over artist. A versatile and committed journalist with the yearning to make a difference in the industry. She writes balanced, informative and interesting stories. Uchechi has the ability to interact and listen with rapt attention, excellent time management and great communication skills while paying attention to detail. She is very approachable and a good team player. Instagram | LinkedIn
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