B5 Plus urges import bans on goods Ghana can produce

Mukesh Thakwani, the Chairman of B5 Plus, has called for the government to impose import bans on goods that Ghana is capable of manufacturing. The iron and steel manufacturer emphasized that increased domestic production could generate jobs, boost exports, and decrease the country's spending on imported products. During a media interaction with the Ghana Revenue Authority (GRA), Thakwani highlighted that local production capacity was currently underutilized, with utilization rates below 50 percent.

He expressed that there was potential for manufacturers to expand their output. Thakwani argued that expanding production would benefit both Ghana and neighboring markets, as the company's goods are not only intended for the local market but also for the wider West African region. He urged the government to investigate the ongoing importation of products that could be manufactured locally and questioned the tax treatment of certain imported goods.

Thakwani stressed the need for stronger support for local industry to conserve foreign exchange and create additional employment. His remarks did not single out specific importers or enumerate a list of products for the proposed restrictions. Thakwani emphasized how supporting local production could contribute to Ghana's industrial development, trade, and job creation.

He also discussed B5 Plus's investments in prefabrication capacity and its adherence to international standards, including ISO certification and a Kaizen approach to continuous improvement. Thakwani acknowledged the GRA's recognition of the company's tax compliance and expressed his company's commitment to responsible corporate citizenship, good governance, continued investment, job creation, and fulfilling tax obligations.