New Patriotic Party (NPP) flagbearer Dr. Mahamudu Bawumia has held discussions with executives of the Ghana Union of Traders’ Associations (GUTA) over rising business costs and other challenges confronting traders in the country.
In a statement after the meeting, Dr. Bawumia said the traders raised concerns about high import duties, demurrage charges, shop rents and goodwill payments, which they said were affecting their operations.
He also cited concerns over the reported increase in Value Added Tax (VAT) to 20% for informal sector operators, limited access to loans from the Export-Import Bank of Ghana (EXIM Bank), and the involvement of foreigners in Ghana’s retail trade.
According to Dr. Bawumia, the meeting provided an opportunity for GUTA representatives to outline the difficulties facing their members and propose possible solutions.
He described the discussions as productive and said the association presented proposals aimed at addressing some of the challenges affecting the trading sector.
The meeting also explored ways to encourage traders to move beyond importing finished goods to producing more goods locally.
Dr. Bawumia said the discussions considered incentives that could support traders interested in investing in domestic production, a move that could help strengthen local industries and reduce reliance on imports.
