GUTA calls for cheaper credit, lower business costs in 2027 Budget

The Ghana Union of Traders Associations (GUTA) has urged the government to introduce measures in the 2027 Budget to create a more enabling business environment, improve access to affordable credit and support private-sector job creation.

Speaking on JoyNews’ The Pulse ahead of the budget presentation on Thursday, November 12, Vice President of GUTA Joseph Paddy said businesses needed practical support to expand production and create employment.

He questioned what specific incentives the government was putting in place to help businesses secure cheaper financing and invest in manufacturing.

“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?” he asked.

Mr Paddy also challenged perceptions that Ghana imports excessively, arguing that the focus should be on the nature of goods brought into the country and whether they support local production.

He cited import-to-GDP figures for Singapore, Malaysia and Ghana to argue that importing is not inherently harmful to an economy.

“So it's not wrong to import in the country, but what are we importing? Are we importing for manufacturing concerns?” he said.

He called for government support for businesses seeking to establish manufacturing and production facilities, saying this would help strengthen local industry.

Mr Paddy further raised concerns about the cost of borrowing and charges imposed on imported goods at the ports, arguing that these expenses increase the cost of doing business.

He claimed that the cumulative charges on imported goods could amount to about 55% of their value.

“Just imagine you import goods worth about 100,000. You are paying about 55,000 just for duty,” he said.

He argued that businesses ultimately pass these costs on to consumers through higher prices.

The GUTA member also raised concerns about foreign businesses operating in Ghana’s retail sector, which he said is reserved for Ghanaians under the country's investment laws.

He called on the Finance Minister to introduce measures to protect local retailers and ensure that existing restrictions are enforced.

The 2027 Budget is scheduled to be presented by Finance Minister Dr Cassiel Ato Forson on Thursday, November 12, 2026.