The administration of President John Dramani Mahama has been commended for maintaining fiscal stability and reducing interest rates, measures that have helped restore business confidence in the market.
One key indicator, according to members of the business community, is the relative stability of the US dollar over the past year and a half—an outcome they describe as both significant and welcome.
The President of the Ghana Union of Traders Association (GUTA), Clement Boateng, made these remarks on Adekyee Mu Nsem, a morning show on Ahotor 92.3 FM hosted by Citizen Kofi Owusu in Accra.
However, GUTA has warned of a possible increase in the prices of goods and services due to rising charges at the country’s ports.
Mr. Boateng explained that authorities have introduced Artificial Intelligence (AI) systems to calculate and determine duties on imported goods.
According to him, in addition to AI-based assessments, port officials also conduct manual evaluations, leading to discrepancies in the final charges imposed on importers.
“In some cases, the AI-generated values are higher than the manual assessments, while in other instances, the reverse is true,” he noted.
He further indicated that this dual system can result in importers effectively being charged twice for the same goods.
Mr. Boateng added that the situation has worsened following a directive from the Ghana Revenue Authority (GRA), which instructs officers not to charge below the AI-generated figures. Conversely, where manual assessments exceed AI valuations, officers are required to apply the higher amount.
He warned that if the situation persists, traders will have no option but to pass on the additional costs to consumers through increased prices of goods and services.