Dr Bawumia meets GUTA over high import duties, demurrage and shop rents

Former Vice President and NPP flagbearer Dr Mahamudu Bawumia met with executives and representatives from the Ghana Union of Traders’ Associations (GUTA) on Friday, October 16 to address the concerns of traders. The discussions centered around several issues that have been plaguing the trade industry, such as high import duties, demurrage charges, and increasing shop rental costs.

During the meeting, GUTA expressed their discontent with the recent VAT increase for informal sector operators to 20%, limited access to EXIM loans, and the presence of foreigners in Ghana's retail trade.

In addition to these challenges, traders also highlighted the burdensome shop rents and goodwill payments that impede their business operations. Dr Bawumia deemed the meeting fruitful, acknowledging that GUTA had put forth proposals to tackle some of the problems discussed. He further emphasized the need for traders to shift their focus from importing goods to producing them locally, and the incentives needed to stimulate domestic manufacturing.

"I found the discussions eye-opening, and GUTA also came with proposals to resolve some of these challenges," Dr Bawumia stated.