President John Dramani Mahama has proposed granting duty- and tax-free status to capital equipment imported by factories operating under the government’s 24-Hour Economy initiative when expanding or retooling.
He made the announcement at the sod-cutting ceremony for a new float glass manufacturing plant and the commissioning of a sanitary ware factory by KEDA (Ghana) Ceramics Company Limited in Shama, Western Region.
President Mahama said the proposal followed a recent dialogue with private sector leaders, fulfilling his 2024 campaign pledge to hold annual engagements with industry captains. According to him, high duties and taxes on capital equipment were among the key concerns raised.
He assured investors that the government is committed to backing the 24-Hour Economy policy with concrete incentives to stimulate expansion and attract further investment.
The President also commended traditional authorities in Shama for releasing nearly 800 acres of land for industrial development, describing the area as an emerging industrial hub in the Western Region.
Highlighting the impact of the factories, he noted that about 60 percent of production is exported to neighboring countries and international markets, including Europe and the United States. He urged workers to safeguard the facilities, emphasizing that sustained productivity would secure long-term benefits for future generations.