The Importers and Exporters Association of Ghana (IEAG) has strongly criticized the Ghana Revenue Authority (GRA) for its handling of tax-related issues involving renowned businessman and founder of Bills Micro-Credit, Mr. Richard Nii Armah Quaye.

In a press statement issued on Monday and signed by Samson Asaki Awingobit, the Executive Secretary expressed concern over the GRA’s decision to publicly freeze Mr. Quaye’s bank accounts over alleged tax discrepancies.

The Association argued that while tax compliance is crucial, the public nature of the GRA’s actions sends a negative signal to both local and foreign investors, creating an atmosphere of fear among young entrepreneurs in Ghana.

The statement emphasized Mr. Quaye’s contributions to the Ghanaian economy, highlighting his role in creating jobs and supporting national growth. According to the IEAG, his businesses employ hundreds of Ghanaians and contribute significantly to the country’s economic development.

“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 statement read.

The Association further called on the GRA to adopt a more constructive approach when dealing with business leaders, citing examples from other African countries like Kenya and Nigeria, where successful entrepreneurs are actively supported and protected.

The IEAG warned that Ghana risks discouraging business growth if it continues to use state institutions in ways that undermine local entrepreneurs.

The statement also noted that Mr. Quaye, like any other businessman, deserves the opportunity to address any tax discrepancies through fair and confidential processes.

The IEAG urged the GRA to engage Ghanaian business leaders professionally to ensure a thriving business environment that supports economic development.

The Association reaffirmed its solidarity with Mr. Quaye, calling on authorities to handle such matters with professionalism and discretion to maintain investor confidence in Ghana’s economy.