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    GUTA demands emergency engagement with stakeholders over port charge increment

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    139,331 jobs created from 1D1F so far – Alan Kyerematen

    Ghana’s energy sector debt reduced to $1.5 billion – Amewu

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    We did not provide guarantees to IPPs – World Bank clarifies

    Kristianne Reindorf Osei, MD, Twelve Springs Investment Group.

    Meet Kristianne Reindorf Osei; the Young Ghanaian MD of a real estate company bagging global awards

    KIA workers to withdraw services to demand removal of MD

    Managing Director and CEO of UBA Ghana, Olalekan Balogun.

    UBA Ghana restates commitment to provide fast and secure remittance service with Africash

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Victor Yaw Asante,
FBNBank Ghana MD/CEO

    SMEs need to master ICUMS, attract credit in order to benefit from enormous AfCFTA opportunities – FBNBank MD

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

    Don’t charge new rates until 3rd quarter – Shipping lines urged

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    Stallion Motors Ghana Ltd introduces ZxAuto Terralord pickup

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    Ghana-UK finalize negotiations on new interim Trade Partnership Agreement

    Go City Cycle Share & Tour promotes bike-sharing culture in Ghana

    Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees

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    GUTA demands emergency engagement with stakeholders over port charge increment

    We did not provide guarantees to IPPs – World Bank clarifies

    139,331 jobs created from 1D1F so far – Alan Kyerematen

    Ghana’s energy sector debt reduced to $1.5 billion – Amewu

    GCNET appeals against Labour Court ruling on redundancy pay

    KIA workers to withdraw services to demand removal of MD

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

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    We did not provide guarantees to IPPs – World Bank clarifies

    Kristianne Reindorf Osei, MD, Twelve Springs Investment Group.

    Meet Kristianne Reindorf Osei; the Young Ghanaian MD of a real estate company bagging global awards

    KIA workers to withdraw services to demand removal of MD

    Managing Director and CEO of UBA Ghana, Olalekan Balogun.

    UBA Ghana restates commitment to provide fast and secure remittance service with Africash

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Victor Yaw Asante,
FBNBank Ghana MD/CEO

    SMEs need to master ICUMS, attract credit in order to benefit from enormous AfCFTA opportunities – FBNBank MD

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

    Don’t charge new rates until 3rd quarter – Shipping lines urged

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    Huawei Y7a; Enjoy poster level shots at the touch of a button!

    Looking for a Balanced School Life? Here is a Gadget Guide for You

    Stress-test your systems against possible cyber-attacks – BoG to banks

    Standout while staying healthy and fit with the sleek HUAWEI WATCH FIT

    Five reasons why you should get the HUAWEI Y7a

    Stallion Motors Ghana Ltd introduces ZxAuto Terralord pickup

    Enjoy longer reading pleasure with the new HUAWEI MatePad T

    Huawei announces innovative HUAWEI Y7a in Ghana

    Patience Akyianu joins Hubtel as non-Executive Director

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    World Bank appoints Senegal’s Makhtar Diop as Managing Director of IFC

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    WTO Appoints Nigeria’s Ngozi Okonjo-Iweala as First Female Leader

    Ghana-UK finalize negotiations on new interim Trade Partnership Agreement

    Go City Cycle Share & Tour promotes bike-sharing culture in Ghana

    Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees

    Digital transactions for 2020 up by 103% – GhIPSS report

    Shift focus from upscaling to upgrading – Ofosu-Dorte urges businesses

    Ghana receives €9.7 million EU Grant to improve access to electricity

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Bill to ban importation of ‘accident cars’ and over 10-year old cars passed

by Ebenezer Afanyi Dadzie
March 12, 2020
in Manufacturing, Top Stories
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Parliament has finally passed the Customs Amendment Bill, 2020, which places a ban on the importation of second hand cars of more than ten years old, as well as salvage cars, locally referred to as ‘accident cars’.

Although the Minority in Parliament had opposed portions of the law particularly on the grounds of job losses,  the House after scrutinizing the document approved it.

The amendment is part of a bigger plan towards the implementation of the Ghana Automotive Manufacturing Programme, which has so far attracted several global car assembly plants into the country.

The law seeks to provide incentives for automotive manufacturers and assemblers, registered under the Ghana Manufacturing Development Programme.

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A clause in the amendment empowers the Minister of Finance to specify the date on which the ban will come into force.

The document will finally become law after the president assents to it.

A Deputy Finance Minister, Abena Osei Asare, quoting the report of the Committee, said “the amendment of the Customs Act, 2015, (Act 891) is to provide incentives for automotive manufacturers and assemblers registered under the Ghana Manufacturing Development Programme (GAMDP),  prohibit the importation of salvaged motor vehicles and specified motor vehicles over ten years of age into the country, increase the import duty on specific motor vehicles and provide import duty exemptions for the security agencies and officers of the security agencies”.

Government has predicted an estimated revenue loss of GHS802 million over the next three years after the review of the policy. This is however expected to be partially offset by the additional revenue from customs duties on vehicles not covered by the programme, according to the joint report of the joint committee on Finance and Trade, Industry and Tourism.

Objections from Minority MP

The MP for Tamale Central, Inusah Fuseini, had called for the withdrawal of the Bill because of the financial implications and the potential loss of jobs associated with its implementation.

“There is a large body of Ghanaians whose business is second-hand vehicle dealing, and they were represented at the joint committee meeting. They raised the point that this Bill… does not offer second-hand vehicle dealers any protection.”

He also said the second-had car dealers deserved to be allowed to “bring in their vehicles and compete with the vehicles that will be manufactured by the automobile assembly.”

On the projected losses, Mr. Fuseini felt the amount was too much for the country to bear.

“This obviously will be too much for this country. For three years you are losing [almost GHS1 billion.]There is no guarantee that we will be able to reclaim this GHS1 billion through the employment by that will be created,” he argued.

Car dealers urge gov’t to consult on moves to regulate importation of used vehicles

The Automobile Dealers Union Ghana (ADUG), had called on government to hold broader consultations with all stakeholders in the automobile industry before the ban.

Data available from the Ghana Revenue Authority (GRA), Customs Division, indicates that between 2005 and 2016, more than 1 million vehicles were imported into the country; representing an average of 100,000 cars per year.

Out of this figure, 80 percent were second-hand vehicles. According to some quarters the trend needs to be reversed to allow for the development, nurturing and flourishing of a competitive automotive industry in Ghana.

Currently, there are penalties for over-aged cars ranging between 5% and 100% of the total cost, insurance and freight of an imported car, between 10 years, and those over 35 years at the country’s ports.

Automobile giants like VW, Toyota, Renault and Nissan, have all expressed interest to set up assembly plants in Ghana, aside from local car manufacturer, Kantanka Automobile Company Limited, which is seeking government’s support to expand its production for the local market.

Volkswagen is already in the country, and will launch its operations in the country on March 18, 2020.

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