Association urges GRA to reconsider approach in freezing Nii Armah Quaye’s accounts

The Importers and Exporters Association of Ghana (IEAG) has urged the Ghana Revenue Authority (GRA) to reconsider its approach in freezing the bank accounts of Mr. Richard Nii Armah Quaye, a businessman and founder of Bills Micro-Credit over alleged tax issues.

The IEAG, in a statement signed by Mr. Samson Asaki Awingobit, the Executive Secretary, stated that the GRA must adopt more constructive engagement with Ghanaian businessmen.

The statement said in “countries like Kenya and Nigeria actively protect and promote their successful young entrepreneurs such as “Obi Cubana, E-Money, understanding that their wealth and influence attract foreign investments and create employment opportunities for the youth.”

It added that, “Ghana must not take the opposite route by using its state institutions to undermine its own business leaders.”

According to the association, while it fully supports due diligence in tax compliance and accountability, it strongly condemns how the GRA has chosen to handle this matter.

The statement said: “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.”

The IEAG noted that Mr. Richard Armah Quaye is not just an individual of wealth but also a business magnate who has created countless job opportunities through his various enterprises, adding that his businesses employ hundreds of Ghanaians and actively support 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,” it added.

It added that, “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 benefitted 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.”

Source: GNA

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