How illicit trade drains government revenue and threatens growth – Expert details

The Managing Director of British American Tobacco (BAT) Ghana, Salia Okasha, has raised concerns about the growing impact of illicit trade on Ghana’s economy.

He noted that illegal, tax-evaded products are increasingly infiltrating the Ghanaian market, posing a serious threat to legitimate businesses and livelihoods.

In a report, Okasha stressed that tackling illicit trade is essential to safeguarding jobs, protecting consumers, and reinforcing the country’s fiscal stability.

He warned that failure to address this issue would deprive the government of vital revenue and undermine national development efforts.

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“Illicit trade deprives the government of much-needed revenue and undermines national development goals. A united, multi-stakeholder effort to tackle this challenge will safeguard jobs, protect consumers, and strengthen Ghana’s fiscal stability,” he said.

Okasha called for sustainable and predictable regulations that foster fair competition and support law-abiding enterprises.

He also reaffirmed BAT Ghana’s commitment to being part of the solution, pledging to work closely with the government and industry partners to help advance Ghana’s economic turnaround strategy.

Okasha added that BAT Ghana will continue to play a leading role in driving socio-economic development, including job creation and sustainability initiatives.

SA/MA

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