The Importers and Exporters Association of Ghana (IEAG) has noted with great concern the recent actions of the Ghana Revenue Authority (GRA) in freezing the bank accounts of renowned businessman and founder of Bills Micro-Credit, Mr. Richard Nii Armah Quaye, over alleged tax issues.
While we fully support due diligence in tax compliance and accountability, we strongly condemn the manner in which the GRA has chosen to handle this matter. The public display of such an action, particularly against a businessman who has made significant contributions to Ghana’s economy, sends the wrong signal to both local and foreign investors. It creates an atmosphere of fear among young Ghanaian entrepreneurs, discouraging them from openly showcasing their success an important factor in attracting global partnerships and investments.
Mr. Richard Armah Quaye is not just an individual of wealth; he is a business magnate who has created countless job opportunities through his various enterprises. His businesses employ hundreds of Ghanaians, and he actively supports numerous initiatives that contribute to the growth of the country’s economy. If the GRA has concerns about his tax compliance, there are diplomatic and professional channels through which these matters can be addressed, rather than resorting to actions that appear to publicly humiliate and vilify him.
The IEAG urges the GRA to reconsider its approach and adopt more constructive engagement with Ghanaian businessmen. Countries like Kenya and Nigeria actively protect and promote their successful young entrepreneurs such as “Obi Cubana, E-Money” et-all, understanding that their wealth and influence attract foreign investments and create employment opportunities for the youth. Ghana must not take the opposite route by using its state institutions to undermine its own business leaders.
Mr. Quaye, like any other businessman, should be given the opportunity to address any tax discrepancies in a fair and confidential manner. The import and export sector, in particular, has benefited significantly from his contributions, and his role in supporting the GRA’s revenue targets cannot be overlooked. Instead of discouraging young, successful Ghanaian entrepreneurs, we must create an enabling environment that ensures their businesses thrive and continue to contribute to national development.
The IEAG stands in solidarity with Mr. Richard Armah Quaye and calls on the GRA to handle such matters with the professionalism and discretion they deserve.
Source:Samson Asaki Awingobit
Executive Secretary
Importers and Exporters Association of Ghana (IEAG)
