John Mahama has proposed that factories operating under the government’s 24-Hour Economy initiative should be allowed to import equipment duty- and tax-free when expanding or retooling, as part of efforts to encourage industrial growth and investment.
The President made the proposal while speaking at the sod-cutting ceremony for a new float glass manufacturing facility and the commissioning of a sanitary ware factory by KEDA (Ghana) Ceramics Company Limited in Shama in the Western Region.
He explained that the proposal follows recent engagements with private sector leaders, in line with a campaign promise he made ahead of the 2024 elections to hold regular consultations with industry stakeholders.
“Yesterday, I held a dialogue with the private sector. I had promised in 2024 that when I become President, we would hold an annual dialogue where captains of industry could directly express the challenges they face,” he said.
According to President Mahama, one of the key concerns raised during the discussions was the high cost of duties and taxes on capital equipment needed for industrial operations.
“One of the issues raised was duties and taxes on capital equipment. For factories established and registered under the 24-Hour Economy initiative, I have proposed that equipment imported for expansion or retooling should enter the country duty- and tax-free,” he announced.
He assured investors that the government remains committed to supporting the initiative with practical incentives to drive growth.
“The incentives are coming. Your belief in Ghana will be rewarded with policies that encourage even greater investment,” he said.
The President also expressed appreciation to traditional authorities in Shama for releasing nearly 800 acres of land for industrial development. The land is being used for the ceramic tile factory, the sanitary ware factory and its expansion, as well as the new float glass facility.
“This area is becoming the industrial hub of the Western Region,” he noted.
President Mahama further highlighted the international reach of the factories, revealing that about 60 per cent of production is exported to neighbouring countries and other markets, including Europe and the United States.
“When you turn the tile over and see ‘Made in Ghana,’ it fills us with pride,” he said.
He also urged workers at the facility to take ownership of the enterprise and safeguard its future.
“Treat this factory as your own. It has given you employment. If you protect it, your children and grandchildren will also benefit from it,” he advised.
