GHACEM will pay $36 million if government strictly enforces new emission tax – Bright Simons

The Vice President of policy think tank, IMANI Africa, Bright Simons, has estimated that if the government’s new taxes are strictly enforced, the country’s largest cement company, GHACEM, will be paying $36 million in taxes.

He said the company generates over 50% of the country’s cement share and has a 3 million tonnes a year target.

He wrote on X: “If GHACEM, Ghana's largest cement corp, with ~50% share, continues hitting its 3 million tonnes a year target, it will face new taxes of $24m a Yr if Ghana strictly enforces the new carbon taxes it is introducing. If the Kumasi plant comes onstream, carbon taxes = $36m. AGI dey?”

The IMANI Veep also noted that manufacturers would be slapped $8 tax for every ton of CO2 emitted in the process of manufacturers.

He “mocked” the Association of Ghana Industries for backing the government in its proposal for the Import Restrictions bills.

“Remember AGI was recently praising govt of Ghana for the import restrictions list? Okay, their time has come. Govt is slapping ~$8 tax for every ton of CO2 emitted by manufacturers. Cement, fuel, steel, aluminum & all high-energy industries should get ready to be smacked!” he wrote.

SSD/NOQ

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