A tax analyst, Francis Timore Boi, has urged Ghana to avoid retaliatory actions against South African businesses operating in the country amid renewed tensions over xenophobic attacks on Ghanaians and their businesses in South Africa.
His comments follow growing public outrage over reported attacks on foreign nationals in South Africa and calls for reciprocal measures against South African companies with operations in Ghana.
Speaking in an interview, Mr. Boi condemned the attacks and expressed concern over what he described as failures in leadership and law enforcement in South Africa.
However, he warned that targeting legitimate businesses would be counterproductive and could harm investor confidence.
According to him, Ghana should resist adopting an “eye-for-an-eye” approach by moving against South African-owned companies, arguing that such actions would neither solve the problem nor promote economic cooperation across the continent.
“We see some level of failure in terms of leadership in South Africa and that is why you can see some individuals getting up, doing things as if there is no law. I do not subscribe to the fact that we should chase other businesses from other countries. But we need immediate solution,” he said.
Mr. Boi stressed that while the treatment of foreign-owned businesses and African migrants in South Africa is unacceptable, retaliatory action against investors in Ghana would send the wrong message to the international business community and could damage Ghana’s reputation as a stable investment destination.
“I don’t think that what is going on in South Africa is right. But it also does not give us the right to immediately jump and say, we want to go and take over the likes of MTN and DSTV. It would be too harsh.
“It would be an eye for an eye and I think that we don’t need to go back again. We just have to move forward. Other countries and other continents are moving forward. But with all our resources, how can we say that we cannot even create jobs for our people? It is very pathetic,” he added.
Instead, he called for urgent diplomatic engagement and stronger intervention by regional and continental bodies, including the Economic Community of West African States and the African Union, to address xenophobic attacks and protect foreign nationals across Africa.
The issue has gained added significance following reports that the Ghanaian government has begun evacuating some citizens from South Africa due to safety concerns.
The developments have also renewed debate over South African investments in Ghana, including discussions surrounding the renewal of Gold Fields’ mining lease for the Tarkwa Mine, which is due to expire in 2027.
Mr. Boi maintained that current tensions should not be allowed to damage long-term investment relations between Ghana and South Africa.
He said efforts should focus on securing justice for affected Ghanaians, strengthening regional cooperation and creating economic opportunities for citizens across the continent.
