Ban steel importation to protect local industry - B5 Plus to govt

CEO of B5 Plus Limited, Mukesh Thakwani has urged the government to ban the importation of cheap metal fabrication products into the country.

This, he believes hurts the business operations of local manufacturers and also distracts the county’s ‘Made in Ghana’ dream.

Speaking to GhanaWeb on the sidelines of the 5th Ghana CEO Summit launch in Accra, Mr. Thakwani called on the government to cut steel imports to protect the local industry.

“The biggest challenge here is that goods which we are able to produce are being allowed from different countries into the country. The finished product price is cheaper than the raw material, which is not possible. We are requesting government to put an immediate ban on imported metal fabrication products which are already produced here”.

Mr. Thakwani revealed that most of the imported products are undervalued making them cheaper and locals less competitive.

“Steel that is coming into the country is underdeclared at the borders and ports, and this should be stopped immediately so local industries can survive. Importers bringing the goods try to undervalue and smuggle them by reducing their real cost, and that is why they are able to be more competitive than goods produced in Africa”.

He further raised concerns on the need for local manufacturers to add value to their production for competitiveness purposes.

“Already, water and electricity tariffs and other things are expensive, and if we do not try to protect ourselves then we will not be able to survive. We need to add value locally to become more competitive instead of allowing foreign items to enter the market,” Mr.Thakwani stated.

Ghana CEO Summit

The 5th edition of the Ghana CEO Summit was launched on Tuesday, April 20, at the Kempinski Gold Coast Hotel in Accra.

The conference for decision-makers, CEOs, heads of institutions, business leaders, and entrepreneurs as well as investors and ambassadors, seeks to unlock Ghana’s economic potential by offering concrete, innovative and actionable solutions.

It also seeks to champion private-sector-led growth, lead discussions around innovative public policies and best growth-oriented business practices to help the country build resilient companies and outstanding CEOs.

Organisers of the Ghana CEO Summit have themed this year’s summit on “Digital Transformation: Powering Business and Government RESET for a Post-Pandemic Economic Resilience. A Public-Private Sector Dialogue.”