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

Former Vice President and NPP flagbearer Dr Mahamudu Bawumia met with executives of the Ghana Union of Traders’ Associations (GUTA) on Friday, October 16 to address issues affecting traders, such as high import taxes, demurrage fees, and elevated shop rental prices. During the meeting, GUTA raised concerns about the recent hike in Value Added Tax (VAT) for informal traders to 20 percent, restrictions on accessing EXIM loans, and the presence of foreigners in Ghana's retail market.

The discussions also delved into the burden of shop rents and goodwill payments, which traders viewed as significant obstacles to their businesses. Dr Bawumia deemed the meeting fruitful, highlighting that GUTA had presented viable suggestions to tackle some of the issues highlighted. He emphasized the importance of encouraging local production and the incentives needed to attract investment in domestic manufacturing.

"The discussions were enlightening and GUTA came armed with proposals to alleviate these challenges," Dr Bawumia stated. He expressed gratitude to the association for the opportunity to discuss measures aimed at addressing traders' concerns and promoting local production.