GUTA Urges Finance Minister to Rationalize Import Duties, Provide Support for Local Manufacturing in Mid-Year Budget Review

Key Takeaways

• The Ghana Union of Traders’ Associations (GUTA) has called on the Finance Minister to announce measures to rationalize import duties and provide financial support for local manufacturing in the 2026 Mid-Year Budget Review.
• GUTA President Clement Boateng emphasized the need for the government to honor its campaign promise to rationalize import duties, which has been a major burden for traders.
• The association also seeks clarity on the implementation of the government’s 24-hour economy policy, particularly the role of traders and manufacturers.

The Ghana Union of Traders’ Associations (GUTA) has urged the Finance Minister to use the 2026 Mid-Year Budget Review to announce measures to rationalize import duties and provide financial support for local manufacturing under the government’s 24-hour economy initiative.

This call comes as GUTA President Clement Boateng spoke on JoyFM’s Midday News on Thursday, ahead of the budget presentation, emphasizing the need for the government to honor its campaign promise to rationalize import duties at the country’s ports.

Background & Context

The issue of import duties has been a long-standing concern for traders in Ghana. Before the 2024 elections, then-presidential candidate John Mahama was presented with a sample bill of entry detailing the numerous taxes and levies importers pay, which highlighted the burden on traders.

The introduction of the Publican AI customs valuation system in March has significantly boosted revenue collection, with the government raking in about 300 million dollars since its introduction.

Key Findings

GUTA has already submitted proposals to the Secretariat of the 24-hour economy and is seeking financial support from the government to help traders venture into manufacturing.

The association expects some government support to create more jobs for its members, with access to funding being critical for their manufacturing endeavors.

Broad Implications

The rationalization of import duties and provision of financial support for local manufacturing could have significant implications for the Ghanaian economy, particularly in terms of job creation and economic growth.

It could also have a positive impact on the trade balance, as local manufacturing increases and imports decrease.

Looking Ahead

The Mid-Year Budget Review is expected to provide updates on the country’s economic performance and outline policy measures for the remainder of the fiscal year.

The government’s decision to rationalize import duties and provide financial support for local manufacturing will be closely watched by traders and manufacturers, as it could have a significant impact on their businesses.