Business News of Wednesday, 29 May 2024
Source: Citi News
The Ghana Plastic Manufacturers Association has accused some Free Zones Companies of illegal practices that cause significant revenue losses for the government.
Of Ghana's 166 plastic manufacturing companies, about 12 are Free Zones Enterprises. These companies allegedly import plastic raw materials duty-free and sell them locally, avoiding import duties and causing the government to lose around GH₵22 million monthly, or GH₵264 million annually.
The association's president, Ebbo Botwe, expressed frustration over the lack of response from authorities despite reporting the issue 18 months ago.
The Ghana Free Zones Authority stated it is conducting monitoring and spot checks, with a report expected by the third quarter of the year.