Dr. Joseph Obeng

GUTA Urges Govt Action As Cedi Depreciation Strains Business Sector
14 May

GUTA Urges Govt Action As Cedi Depreciation Strains Business Sector

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The Ghana Union of Traders Association (GUTA) has issued a plea to the government, urging immediate action to bolster the cedi's value against major trading currencies, particularly the dollar. In a statement dated May 14, GUTA expressed its willingness to collaborate with the government and other stakeholders to address the currency depreciation crisis, which is significantly impacting the business community, especially the trading sector. Describing the situation as dire, GUTA emphasized that the weakening cedi, alongside rising freight charges from Asia, is exacerbating the cost of doing business, rendering it unsustainable for many enterprises. The union highlighted the adverse effects…
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Import Restriction Bill On 22 Selected Items Was Empty – GUTA On Suspension Of L.I
08 Dec

Import Restriction Bill On 22 Selected Items Was Empty – GUTA On Suspension Of L.I

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President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng has lauded government for suspending the Export and Import Regulations 2023 Bill. According to him, the bill that was laid before parliament was empty. Speaking on Citi FM's Eyewitness News, he said, “They were so bent on passing this law, but we were also so bent on disallowing it. We have also petitioned Parliament through the Speaker, Alban Bagbin, the minority, majority leaderships and the parliamentary select trade and industry committee, we have done all that. And they have seen reason for what we were saying.” “And that…
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All Shops To Be Closed On Saturday Only – GUTA To Members
25 Oct

All Shops To Be Closed On Saturday Only – GUTA To Members

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The Ghana Union of Traders Association (GUTA) has noted that the closure of shops ahead of the preparation of the final funeral rites of the late queen, Naa Dedei Omaedru III has been revised to only Saturday, October 28, 2023. In a press release sighted by GhanaWeb Business, President of GUTA, Dr Joseph Obeng, said the decision of the traditional leaders to reduce the closure period from three days to one day demonstrates the commitment of the chiefs to balancing cultural traditions with the economic needs of the community. He therefore urged all traders within the Accra environs to fully comply with…
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Restructure Your System To Bring Fairness – GUTA To GRA
22 Sep

Restructure Your System To Bring Fairness – GUTA To GRA

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The Ghana Union of Traders (GUTA) has asked its members to resist any form of harassment and intimidation from officers of the Ghana Revenue Authority. President of GUTA, Dr. Joseph Obeng, in an interview on Frontline on Rainbow Radio 87.5 FM, alleged that the GRA intercepted their cargo in transit from Accra to other regions on allegations of undeclaration of goods. He alluded to the Ashanti Regional Branch’s concerns about GRA officers’ constant harassment and intimidation of traders in the region. He stated this after their cargoes had passed through the necessary clearance processes at the port of Tema and…
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GUTA Lauds Government For Inclusion Of Traders In Affordable Housing Scheme
09 Aug

GUTA Lauds Government For Inclusion Of Traders In Affordable Housing Scheme

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The Ghana Union of Traders Association (GUTA) has expressed gratitude to the government for the inclusion of traders as part of the beneficiaries targeted in the national affordable housing scheme for low and middle-income earners in the country. A statement issued by the Union noted that given the current housing deficit in Ghana standing at around 2.0 million units, traders can now heave a sigh of relief with an opportunity to own their respective houses. “The idea, therefore is in the right direction because shelter is one three basic human needs. GUTA wishes to express its appreciation to the banks…
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Increased Port Tariffs By GPHA Unacceptable – GUTA Laments
03 Aug

Increased Port Tariffs By GPHA Unacceptable – GUTA Laments

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The Ghana Union of Trader of Association (GUTA) is kicking against what it describes as astronomical increases in port tariffs that have been announced by the Ghana Ports and Harbours Authority (GPHA). President of the Union, Dr Joseph Obeng, in a statement said the announcement comes as a surprise to its members who have been severely impacted from the effects of increased taxes and levies introduced in recent times. He further noted that the recent decision by the GPHA is unacceptable as it would influence increases in shipping line charges amid the current economic challenges plaguing the country. “We call…
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We Need To Add Value To Our Raw Materials To Be Competitive – GUTA President
12 Jul

We Need To Add Value To Our Raw Materials To Be Competitive – GUTA President

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President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has called on businesses to add value to their raw materials before trading. According to him, transforming the raw materials into finished goods will give them a competitive advantage over other goods on the international market. To help meet this target, Dr Obeng called on businesses to expand their production capacity to meet the demands of consumers locally and globally. In an interview with TV3, the President of the Ghana Union of Traders Association said, “it is very important that we do value addition, we make sure that…
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GUTA Will Not Relent On Calls To Review Three New Taxes – Dr.Obeng
06 Jun

GUTA Will Not Relent On Calls To Review Three New Taxes – Dr.Obeng

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The Ghana Union of Traders Association (GUTA) has noted that it will not relent in its pursuit to ensure that the government reviews the three revenue measures that were passed in March 2023. According to them, the Union will push for a review of the taxes as well as the COVID-19 levy in the mid-year budget review. Businesses are currently lamenting the struggles that they have had to face due to the high cost of utilities and the expensive nature of taxes they have to pay. “Now that the IMF deal has gone through, we will still pursue government and dialogue so…
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Prepare For Price Hikes On Some Goods From May 1 – GUTA
28 Apr

Prepare For Price Hikes On Some Goods From May 1 – GUTA

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The President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has cautioned Ghanaians to prepare for a possible increase in prices of some goods on the market. This follows the implementation of three new tax measures by the government, namely the Excise Duty, the Income Tax Amendment Acts, and the Growth and Sustainability Act, which were passed by Parliament despite opposition from the Minority and the business community. Dr Obeng emphasized that since businesses and consumers are interdependent, any challenges faced by businesses will ultimately impact the consumers Consequently, GUTA intends to pass on the extra costs…
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GUTA Members Close Shops Today Over Economic Hardship
19 Oct

GUTA Members Close Shops Today Over Economic Hardship

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Members of the Ghana Union of Traders Association (GUTA) will today close shops in Accra to protest deteriorating economic situation. The group described the industrial action, which will end on Monday, October 24, as a “pinch” on government to urgently address the depreciating cedi, high-interest rate and inflation. GUTA announced its decision after engaging in a three-hour meeting with some members of the Council of State. In a press briefing after the meeting, the President of GUTA, Dr Joseph Obeng, said the resolve to close shops was a distress call to the nation. He said even though there was a…
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