Association of Ghana industries urges GRA to clamp down on illegal imports as cedi strengthens
By Praisebell Rosemond Larbi
The Association of Ghana Industries (AGI) has called on the Ghana Revenue Authority (GRA) and other regulatory agencies to intensify enforcement against illegal imports, warning that the recent appreciation of the cedi is fuelling a surge of goods entering the country outside official channels.
The cedi has recorded strong gains against major trading currencies in recent months, appreciating by over 40 percent against the US dollar, 31 percent against the British pound, and 24 percent against the euro.
This rebound, supported by improved macroeconomic stability, falling inflation, and robust external reserves, has made imports relatively cheaper.
Concerns Over Unfair Competition
Speaking at Prudential Bank’s Special Customer Seminar on the appreciation of the cedi, AGI Chief Executive Officer Seth Twum-Akwaboah cautioned that while the association is not opposed to imports, regulators must ensure that goods entering the country follow legitimate procedures.
“If you go on the internet and check international markets, you can find the price of copper, plastics used as insulators, or flour. Yet goods land in Ghana at ridiculously low prices, raising questions about whether the right duties were paid, the right volumes declared, and the right values stated,” he said.
Mr Twum-Akwaboah argued that such practices distort fair competition, undermine the cost structure of compliant local manufacturers, and ultimately threaten jobs.
A Call for Regulatory Vigilance
“In a situation where there is a higher tendency to manoeuvre and it is affecting industries and we are going to lose jobs, then the regulatory agencies have a major role to play. GRA has a major role to play,” he stressed.
The AGI has long maintained that curbing unfair imports is critical to safeguarding local industries, protecting jobs, and ensuring the government does not lose much-needed revenue through under-declarations and smuggling.
