Association of Ghana Industries Archives

26 Aug

AGI Urges Industries To Reduce Carbon Footprint

wontumionlineBusinessAssociation of Ghana Industries, Seth Twum Akwaboah

The Association of Ghana Industries (AGI) has pledged to partner with relevant stakeholders to ensure that industries in the country reduce their carbon footprint. This, the association said, is crucial toward the contribution to the global call on reduction of carbon emission, which is gradually becoming harmful to the environment. In this vein, the AGI is encouraging its members to adopt renewables, which are a more efficient and cleaner source of energy in their operations, to minimise impacts on the environment. It said clean energy sources – such as solar, biomass and wind – are fast becoming the centre of…

26 Jun

AGI Cautions Against Removal Of Taxes On Imported Sanitary Pads

wontumionlineBusinessAssociation of Ghana Industries, sanitary pads, Seth Twum Akwaboah

The Association of Ghana Industries (AGI) is cautioning against any policy measure that seeks to remove taxes on imported sanitary pads at the expense of locally produced ones. It warned that such a move will be very detrimental to the economy. “Much as the waiver of duties/taxes on imported sanitary pads for our young women to make the pads more affordable may sound good, this will only end up completely wiping out the few local sanitary pad factories left in our country. Therefore, the Association is of the view that the call for removal of duties on imported sanitary pads…

16 Jun

AGI Appeals For Reduction Of Utility Tariffs For Manufacturing Companies

wontumionlineBusinessAssociation of Ghana Industries, Tsonam Cleanse Akpeloo

The Association of Ghana Industries (AGI) has appealed to the government to reduce the utility tariffs for manufacturing companies and industries producing and contributing to the development of the country. The AGI Greater Accra Regional Chairman, Mr. Tsonam Cleanse Akpeloo, made the call at a breakfast meeting in Tema, which was hosted by the Ghana Investment and Promotion Centre (GIPC). Mr. Akpeloo, who is an economist and a technology entrepreneur, stated that Ghana was one of the few nations in the world where industry paid more in electricity costs than home enterprises. He pointed out that taxes and power accounted…

05 Jun

AGI Calls For Recalculation Of VAT On Raw Materials

wontumionlineBusinessAssociation of Ghana Industries, VAT

The Association of Ghana Industries (AGI) has called for the recalculation of the Value Added Tax (VAT) on raw materials that are unavailable in the country to reduce the cost of production. The current calculation of VAT, which included the basic VAT and six per cent on the total goods, coupled with high utility charges, were crippling local production and industrialisation, it said. Mr Tsonam Akpeloo, the Chairman of the Association, said this at a breakfast meeting organised by the Ghana Investment Promotion Centre in Tema. He said the high cost of production in Ghana was making competition with other…

04 Apr

New Taxes: We Foresee A Contraction In Manufacturing And Other Related Business Activities – AGI

wontumionlineBusinessAGI, Association of Ghana Industries

The Association of Ghana Industries (AGI) has registered its disappointment at the passage of the three revenue bills – Excise Duty, Growth and Sustainability Levy and Income Amendment Bills by Parliament. The AGi said the approval on Friday, March 31 came on the heels of an already harsh business climate. The passage of these bills poses very dire consequences for Industry. “We continue to experience a tax regime that does not motivate local production and formal business operations. “We denounce the lack of stakeholder consultation on such fiscal policies, which have negative impact on businesses. AGI took steps to make input…

06 Feb

AGI Urges Govt. To Effect Favorable Business Policies

wontumionlineBusinessAssociation of Ghana Industries

The Association of Ghana Industries (AGI) is calling on government to ensure policies implemented do not stagnate macro-economic growth in the country. This call comes on the back of the implementation of the upward quarterly tariff adjustment by the Public Utility Regulation Commission on February 1. Speaking at a media briefing in Accra, the Chief Executive Officer of the Association of Ghana Industries, Seth Twum Akwaboah said the constant rise in tariff threatens the growth of industry. “Industries have been under pressure from an unstable business environment, hoping to see signs of recovery this year, the situation is further worsened…

03 Feb

AGI Rejects New Utility Tariffs

wontumionlineBusinessAssociation of Ghana Industries

The Association of Ghana Industries (AGI) has registered its dissatisfaction at the level of increment in the last major utility tariffs review for the beverage sector under Industry. The association said they do appreciate the changes in the key determinants in tariff fixing and therefore reasonable changes in tariffs do not come as a surprise. However, the said, notice the principle of equity was largely missing in the major tariff review conducted in August last year for water, where a particular customer category was being asked to bear a 316% increment in a single tariff review. “Indeed, our beverage companies…