I will harmonise our import duties with Togo's if I become President – Dr. Bawumia

The presidential candidate of the governing New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has vowed to align Ghana's import duties with those of Togo.

This initiative aims to curb the smuggling and diversion of goods to neighbouring ports, which has been costing the nation millions in lost revenue.

Speaking to religious leaders at the start of his two-day tour of the Central Region, Dr. Bawumia highlighted the challenges posed by the Lomé port's lower tariffs, which have driven importers to reroute their traffic away from Ghana.

"We are introducing a new import duty policy that will align the duties at the Tema port with those at the Lomé Port. This policy will benefit our business community by eliminating the need for smuggling," he stated.

Dr. Bawumia emphasized that Ghanaian ports would not impose higher duties than those at the Lomé port, asserting, "This is our stance; we will maintain equal duties as they are our competitors."

He also announced plans for the full automation of the Tema port to streamline operations and enhance efficiency.

Highlighting his track record of transformative policies, Dr. Bawumia pointed to the convenience of purchasing electricity units from home without queuing at the Electricity Company of Ghana (ECG) offices.

He also lauded the issuance of digital national ID cards and the groundbreaking mobile money interoperability between telcos and banks, which has positioned Ghana as the fastest-growing mobile money market in Africa.

In a bid to stabilize the local currency and ensure exchange rate stability, Dr. Bawumia detailed his strategy involving the Bank of Ghana's gold-purchasing policy, emphasizing the importance of price predictability for businesses.

"My government will adopt a business-centric approach to enhance Ghana's standing as one of the most business-friendly economies globally," he affirmed.

The NPP flagbearer also revealed plans to introduce a Credit-Scoring System for entrepreneurs and individuals by June this year, aimed at lowering interest rates on loans for those with a positive loan repayment history. Dr. Bawumia urged the religious leaders to support and vote for him, promising progress and a business-friendly administration.