AFIENYA, Ghana, 15th October: President John Dramani Mahama has announced plans to convene a meeting with the Minister for Finance and other relevant stakeholders to review the new Customs Act and examine its implications for businesses operating under Ghana’s Free Zones Scheme.
The President said the proposed review would identify any necessary corrections to the legislation, with amendments to be submitted to Parliament where required.
He made the announcement at the sod-cutting ceremony for the Afienya Industrial Park after referring to concerns raised by the Chief Executive of the Ghana Free Zones Authority.
President Mahama said the meeting would take place when the Minister for Finance returned from Thailand, where the World Bank and International Monetary Fund meetings were being held.
“I informed the Minister of Trade and Industry that when the Minister of Finance returns from Thailand, where they are having the World Bank and IMF meetings, we shall convene a meeting to look at the new Customs Act again and examine how it affects the Free Zones, so that if there are any corrections to be made, we can send amendments to Parliament,” he said.
The planned review comes as the government seeks to expand Ghana’s industrial capacity and attract more export-oriented businesses through the development of the Afienya Industrial Park.
The new industrial enclave, which covers approximately 1,238 acres, is intended to provide space and supporting infrastructure for more than 120 enterprises.
The Ghana Free Zones Scheme offers incentives to qualifying businesses, including exemptions from import duties and levies on eligible goods used for production and exports, as well as tax incentives subject to the applicable legal provisions.
Under the stated incentive framework, qualifying enterprises receive a 100 per cent exemption from income tax on profits for their first 10 years, after which the applicable rate will not exceed 15 per cent.
The scheme is designed to encourage export-oriented manufacturing, attract investment and increase Ghana’s participation in regional and international value chains.
President Mahama said the Afienya Industrial Park would provide investors with access to serviced land and essential infrastructure, including power, water, roads, waste treatment and telecommunications.
He added that the government is committed to creating an enabling environment in which businesses could establish factories, produce competitively and employ more Ghanaians.
The President’s announcement signals the government’s intention to examine the regulatory framework governing Free Zones as it pursues its broader industrialisation agenda.
The outcome of the proposed review is expected to clarify whether changes to the Customs Act are necessary to address the concerns raised by the Ghana Free Zones Authority.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/ Presidential Affairs Correspondent | Ghana 🇬🇭