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GIPC shuts down illegal foreign
companies
Accra, July 31, Ghanadot/GNA - The Ghana Investment
Promotion Centre (GIPC) on Tuesday closed down several
foreign companies engaged in illegal business operations in
the Central Business District in Accra.
The exercise is the first in a series that would be
conducted throughout the country to weed out illegal
business operations.
The eight shops and businesses that were closed are Dutch
African Import and Export Company, dealers in imported used
clothing, Xilaian Import and Export, dealers in leather
accessories and Dynamic Shoe Factory, who were also dealing
in leather shoes, belts and accessories.
The rest are Fullmore Ghana Limited, China Wenz Hou Siuo,
Cases and Leather Goods Company Limited and Hanasi Trade
Company Limited.
Other companies closed down were Blessed Big S Enterprise
and Xianwei Trading Company, dealers in rechargeable saving
lights.
Hanasi Trade Company Limited and China Wenz Hou Siuo Cases
and Leather Goods Company Limited were closed for
non-compliance and inability to produce valid GIPC
registration certificates.
The action followed findings of the Committee on Trade and
the Ghana Union Traders Association and Inter-Agency Task
Force, which concluded that GIPC laws were being blatantly
flouted.
According to the GIPC, it had to shut down the businesses
for operating illegally despite several reminders and
personal contacts that yielded no response from the owners.
"The GIPC is taking this action after exhausting more than a
30-day notice to the offenders to regularize the situation,"
GIPC said.
It added that in most cases, businesses usually with foreign
participation did not register with the Centre, but got
directly onto the retail market.
Section 18 of GIPC Act of 1994 indicates that the sale of
anything whatsoever in the market, petty trading, hawking or
selling from a kiosk at any place is reserved for Ghanaians.
Similarly, the operations of taxi and car hire service and
all aspects of pool betting and lotteries except football
pools are for local companies only. A non-Ghanaian may,
however, undertake taxi services provided he has a minimum
fleet of 10 brand new vehicles.
The GIPC said it had the mandate to encourage and promote
investments in the Ghanaian economy and also coordinate and
monitor all investment activities.
Dutch African Import and Export Company had been registered
as a manufacturing concern but was operating in the retail
sector, selling imported used clothing.
GNA
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