Dr. Mahamudu Bawumia, the Presidential candidate of Ghana’s governing New Patriotic Party (NPP), has announced a strategic policy aimed at aligning Ghana’s import duties with those of neighboring Togo.
Speaking to religious leaders at the start of his two-day tour of the Central Region, Dr. Bawumia outlined the challenges posed by the Lome port’s lower tariffs and detailed his vision for a more competitive and business-friendly Ghana.
“We are introducing a new import duty policy that will align the duties at the Tema port with those at the Lome Port. This policy will benefit our business community by eliminating the need for smuggling.”
Dr. Mahamudu Bawumia, NPP’s Presidential candidate
Dr. Bawumia’s proposal to align Ghana’s import duties with those of Togo represents a bold and innovative approach to combating smuggling and the diversion of goods. By matching the tariff structure at Ghana’s Tema port with that of the Lomé port in Togo, Dr. Bawumia seeks to eliminate the competitive advantage that lower tariffs at Lomé port currently offer to importers.
This move is expected to level the playing field for businesses operating within Ghana, thereby reducing incentives for smuggling and the associated loss of revenue.
Dr. Bawumia emphasized maintaining equal duties with Togo, underscoring his commitment to a competitive yet fair economic environment. He asserted that Ghanaian ports would not impose higher duties than those at Lomé, recognizing the competitive nature of regional trade.
This stance reflects a broader economic strategy focused on enhancing Ghana’s attractiveness as a business destination, without resorting to protectionist measures that could harm its competitiveness.
Economic Stability and Business-Friendly Policies
Dr. Bawumia’s remarks extend beyond import duties to encompass a range of economic policies and initiatives designed to foster growth and attract investment. These include the convenience of purchasing electricity units remotely, the issuance of digital national ID cards, and the achievement of mobile money interoperability.
Such innovations demonstrate Dr. Bawumia’s commitment to leveraging technology and modernizing public services to improve the lives of Ghanaians and create a more conducive business environment.
Alongside the duty alignment, Dr. Bawumia announced plans for the full automation of the Tema port. This initiative is aimed at streamlining operations and enhancing efficiency, which is crucial for attracting more businesses and improving the overall logistics sector in Ghana. Automation can reduce bottlenecks, minimize errors, and speed up processing times, contributing significantly to Ghana’s efforts to improve its trade infrastructure and competitiveness.
Additionally, Dr. Mahamudu Bawumia stated, “My government will adopt a business-centric approach to enhance Ghana’s standing as one of the most business-friendly economies globally.”
Dr. Mahamudu Bawumia’s policy on aligning Ghana’s import duties with those of Togo represents a strategic move to curb smuggling, retain revenue, and enhance the competitiveness of Ghanaian ports.
Coupled with plans for full automation of the Tema port and a strong track record of transformative policies, Dr. Bawumia’s vision aims to create a more business-friendly environment in Ghana. His initiatives, including economic stability measures and the introduction of a credit-scoring system, reflect a comprehensive approach to fostering growth and ensuring the nation’s economic resilience.
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