President Mahama proposes duty-free equipment imports to boost 24-Hour Economy factories

President John Dramani Mahama has proposed allowing factories operating under the government’s 24-Hour Economy initiative to import machinery and industrial equipment duty- and tax-free when expanding or upgrading their operations.

He made the announcement during 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.

The President revealed that the proposal followed a recent dialogue with private sector leaders part of a commitment he made ahead of the 2024 elections to hold annual engagements with industry captains to address business challenges.

According to him, high duties and taxes on capital equipment were among the key concerns raised. He therefore proposed that registered 24-Hour Economy factories be granted duty- and tax-free entry for imported equipment used for expansion or retooling.

Mahama assured investors that the government intends to support the initiative with practical incentives, stating that businesses that invest in Ghana will be rewarded with policies that promote growth and competitiveness.

He also commended traditional authorities in Shama for releasing nearly 800 acres of land for industrial development, which now hosts the ceramic tile factory, sanitary ware facility and expansion works, as well as the new float glass plant. He noted that the enclave is evolving into a major industrial hub in the Western Region.

Highlighting the factories’ growing international footprint, he said about 60 percent of output is exported to neighbouring countries as well as markets in Europe and the United States.

Encouraging workers to take pride in their roles, the President urged them to protect and sustain the enterprise, emphasising that its success will benefit future generations.