Government’s continuous imposition of high taxes on businesses is making Ghanaian businesses uncompetitive on the international market.
This is the verdict of the Association of Ghana Industries (AGI).
The business union has over the years lamented the impact the high cost of doing business is having on their operations.
Issues bordering on new and high taxes, increased utility tariffs, rising inflation and interest rates are some of the major factors hampering growth of companies in the country.
The development which has overburdened Ghanaian industries has also compelled some of them to relocate to neighbouring Cote d’Ivoire.
They argue that the business environment in that country is friendly for companies to thrive.
Executive Member of AGI and Chief Executive Officer of Sleek Garments Export Limited, Nora Bannerman in an interview with Citi Business News lamented that business is no longer profitable in Ghana,
‘‘There are additional issues that keep coming up and we have international businesses who are not pleased with the situation at all. Some of the concerns are port charges, taxes, tariff hikes and increase in fuel cost translating into high transportation cost,
“We also have workers that we need to take good care of otherwise they are not going to show up at work. All these lead to rising costs making us uncompetitive,” she observed.
An optimistic Nora Bannerman however appealed for government’s intervention to cushion businesses against the brunt posed by the prevailing economic conditions.
“Government must sit up and focus on addressing pressing issues of the Association rather than increasing taxes which does not help us anyway,” she suggested.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana