Former Vice President and New Patriotic Party (NPP) flagbearer Dr Mahamudu Bawumia has met executives and representatives of the Ghana Union of Traders’ Associations (GUTA) to discuss challenges confronting traders, including high import duties, demurrage charges and shop rental costs.
In a post on Friday, October 16, Dr Bawumia said the traders raised concerns about the reported increase in Value Added Tax (VAT) for informal sector operators to 20 per cent, limited access to EXIM loans and the involvement of foreigners in Ghana’s retail trade.
The discussions also covered the high cost of shop rents and goodwill payments, which traders identified as some of the difficulties affecting their businesses.
Dr Bawumia described the meeting as productive, saying GUTA presented proposals to address some of the challenges raised.
He said the discussions also focused on the need for traders to move beyond importing goods towards producing them locally, as well as the incentives required to encourage investment in domestic manufacturing.
“The discussions were eye-opening and GUTA also came with proposals to resolve some of these challenges,” he said.
Dr Bawumia thanked the association for the engagement, which he said provided an opportunity to discuss measures to address the concerns of traders and support local production.