The Ghana National Chamber of Commerce and Industry (GUCCI) has revealed that the country is losing out on huge revenue generation margins as some shipping vessels are now diverting their traffic to the neighbouring port of Togo.

The chamber asserts this is a result of the exorbitant charges importers had to contend with doing business at the ports of the country.

Importers shoulder some 22 different taxes and levies including, Covid-19, GetFund, and National Insurance Health levies amongst others.

The situation, according to the chamber is being exacerbated by the continuous depreciation of the Ghana cedi since some of these charges are paid in the U.S. dollar or its cedi equivalent coupled with high interest rates from financial institutions.

In a meeting, Vice President Dr. Mahamudu Bawumia appealed for a reduction in the various charges to ease the burden being endured by the business community.

“We want you to revise the port charges and levies to reduce the cost of doing business, example is the GetFund levy, National Health Insurance levy, Covid-19, and Special import levies. I was tasked to go to Burkina Faso to understudy the cost of doing business there and other ports of the subregion as Ghana port is going down, surprisingly the port of Togo is leading with vessels moving from Ghana there,” Dr. Osei Amoako revealed.

Furthermore, the chamber also impresses on the Vice President to help reduce electricity tariffs in the industrial sector to help reduce operational costs for industries. The Vice President on the other hand promised to match the charges at the Ghanaian ports with those of Togo when he becomes the President come 2025.

Source: Ghana/ Pawell