By: Kekeli K. Blamey
Ghana’s manufacturing sector is calling for tax reforms, describing the current regime as counterproductive.
The Association of Ghana Industries (AGI) is urging the next government to implement meaningful reforms in its first budget to restore industry confidence.
Key concerns include the prevailing value-added tax (VAT), import duties on raw materials, and import discounts on locally producible products.
Dr. Humphrey Ayim Darke, AGI President, emphasized the need for comprehensive and progressive reforms, coupled with incentives for producers, to accelerate recovery from the recent economic crisis.
He expects the incoming government to showcase innovation in macroeconomic management and fiscal rationalization, building on gains from the International Monetary Fund (IMF) structured program.
The AGI’s 64th Annual General Meeting (AGM) and job fair in Accra brought together stakeholders to discuss strategies for growth and resilience in the global market.
Dr. Afua Asabea Asare, CEO of the Ghana Export Promotion Authority (GEPA), highlighted progress under the National Export Development Strategy (NEDS), aiming to increase non-traditional export revenues from $2.85 billion to $25.3 billion by 2029.
GEPA’s efforts have already yielded results, with non-traditional export revenues rising to nearly $4 billion in 2023, driven by processed cocoa, iron and steel, aluminum, and plastic products.
The AGI remains committed to fostering industrial growth and sustainability through
