Bawumia engages GUTA over import duties, VAT and rising business costs

Former Vice President and New Patriotic Party (NPP) flagbearer for the 2028 elections, Dr Mahamudu Bawumia, has held talks with the Ghana Union of Traders’ Associations (GUTA) on challenges affecting traders, including high import duties, rising demurrage charges and the cost of doing business.In a Facebook post on Friday, October 16, Dr Bawumia said executives and representatives of GUTA outlined concerns over high import duties, the reported increase in VAT for informal sector operators to 20%, limited access to EXIM loans, high shop rents and goodwill payments, as well as foreign nationals taking over aspects of the retail trade.He described the engagement as productive and said the association also presented proposals to address some of the challenges.The discussions also focused on how Ghana could move from dependence on imported goods towards local production. Dr Bawumia said he and the traders explored incentives that could encourage businesses to manufacture more goods locally, potentially creating jobs and expanding opportunities for Ghanaian businesses.He thanked GUTA for the engagement and the ideas it presented, saying the discussions had provided useful insights into the difficulties facing traders.The meeting forms part of conversations on possible policy measures to improve the business environment, ease operational pressures and support domestic production and private-sector growth.Read the full article at MyJoyOnline Ghana