GUTA urges government to prioritise affordable credit, manufacturing incentives in 2027 Budget

The Ghana Union of Traders Associations (GUTA) has called on the government to include provisions in the upcoming 2027 Budget aimed at fostering a more favorable environment for businesses. Vice President of GUTA, Joseph Paddy, speaking on JoyNews’ The Pulse ahead of the budget presentation, emphasized the need for practical assistance to help enterprises expand their operations and generate employment opportunities.

Paddy questioned the government about specific measures it plans to implement to facilitate cheaper financing and encourage manufacturing investments. He asked, "What is the government putting in place for us? So that when I go to the bank, I'll get cheaper credit, maybe a five-year moratorium to open a factory?"

Paddy also addressed the notion that Ghana imports excessively, arguing that the focus should instead be on the nature of the goods being imported and whether they support local production. He cited import-to-GDP figures for Singapore, Malaysia, and Ghana to illustrate that importing is not inherently detrimental to an economy. He urged the government to support businesses seeking to establish manufacturing and production facilities, stating that this would help bolster the local industry.

Concerning the cost of borrowing and duties imposed on imported goods at ports, Paddy highlighted that these expenses can accumulate to about 55% of the value of the goods being imported. For instance, importing goods worth 100,000 Ghanaian cedis would result in paying approximately 55,000 cedis in duties alone, with the remaining amount ultimately passed on to consumers through higher prices.

He called for the Finance Minister to introduce measures to safeguard local retailers and ensure that the existing investment laws prohibiting foreign businesses from operating in the retail sector are enforced. The 2027 Budget is set to be unveiled by Finance Minister Dr. Cassiel Ato Forson on November 12, 2026.