President John Dramani Mahama has moved to lower the cost of industrialisation by proposing duty-free and tax-free importation of capital equipment for companies enrolled in Ghana’s 24-hour economy programme.
The announcement, made during a ceremony for a $250 million float glass plant in Shama, is a direct response to feedback from the business community.
During a recent Presidential Dialogue, private sector leaders cited high import tariffs on machinery as a critical barrier to investment.
By removing these fiscal bottlenecks, the government aims to accelerate retooling and expansion across the manufacturing sector.
“That is why I can assure investors that the incentives are coming,” Mahama told attendees.
The float glass facility alone is expected to reduce Ghana’s reliance on imported glass, which costs the nation $25 million in 2024, while generating future export revenue and over 2,000 jobs.
The President framed the policy within a broader economic strategy: “Production underpins the value of currency.”
He also confirmed the 24-Hour Economy Authority is now operational following his recent assent to the bill, ensuring a structured implementation of the industrial plan.
