Businesses relocating to neighbouring countries – John Awuni

Chairman of the Food and Beverage Association of Ghana (FABAG), John Awuni, has disclosed that some players in the private sector have started relocating their businesses to neighbouring countries to remain in business.

He attributed this to the high taxes imposed on businesses by government.

Speaking on Citi TV’s Point of View programme, John Awuni cited COVID-19, Carbon Emissions Levy, Growth and Sustainability tax as some taxes burdening the business community.

He further said high interest rates, high inflation rate, depreciation of the currency were also impacting their businesses negatively.

“The private sector is really under serious tremendous taxes, we still have COVID-19 levy, Carbon Emissions Levy, Growth and Sustainability tax, I can go on and on...Our interest rates and inflation rates remain very high, our currency remains highly unstable which makes the players lose their capital by the day. There’s a high level of unemployment that shows that the private sector is not doing well," the Chairman of the Food and Beverage Association of Ghana said.

He added that, “As a result of the high level of taxation and the poor performance of the private sector, people have devised various means of making their businesses survive. We’re in an era where most players in the private sector have started repositioning their businesses in the neighbouring countries. In Cote D’Ivoire and Togo, most importers right now are routing their imports through Togo and Cote D’Ivoire and that has shown clearly in our imports data.”

SA/NOQ

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