Tax relief, exchange rate stability and easing inflation are making the cost of doing business in Ghana cheaper and more predictable for traders, according to the Importers and Exporters Association of Ghana.
The association says recent fiscal and macroeconomic adjustments are helping importers and exporters better manage operating costs, particularly those linked to foreign currency transactions, port charges and day-to-day trade expenses. In its annual review, Executive Secretary of IEAG, Samson Asaki Awingobit, said government efforts to streamline taxes are already yielding tangible benefits for businesses.
He pointed to the removal of the one percent COVID-19 Health Recovery Levy and recent adjustments to VAT as key measures easing financial pressure on traders and improving cash flow. Awingobit stated that “the removal of nuisance levies and VAT adjustments are helping to reduce the cost burden on businesses and improve predictability.” Such reforms are critical for trade competitiveness, he added.
Exchange rate stability has also emerged as a major relief for traders who depend heavily on the US dollar for imports, freight and port-related charges. Awingobit noted that the Ghanaian cedi has shown relative stability and modest appreciation against the dollar, helping to moderate import costs and reduce pricing volatility.
The gains in the cedi are particularly important for importers, as they lower the effective cost of international transactions, according to the executive secretary. This improvement has been reinforced by a sustained decline in inflation, which has eased pressure on both businesses and households.
According to IEAG, lower inflation, improved exchange rate stability and declining borrowing costs are creating a more predictable operating environment. This enables traders to plan pricing, manage cash flows and make investment decisions with greater confidence than in previous periods when macroeconomic volatility disrupted business planning.
Beyond macroeconomic conditions, the association highlighted operational gains at Ghana’s ports as another positive development. Improved processes and greater use of digital tools are contributing to faster cargo clearance, shorter delays and increased transparency. IEAG said these efficiency gains are particularly important for small and medium-sized enterprises operating on thin margins.
Port inefficiencies have historically added significant costs to trade operations in Ghana, with delays creating storage charges, demurrage fees and inventory management challenges. The reported improvements in clearance times and transparency represent operational cost savings that complement the macroeconomic gains traders are experiencing.
While welcoming ongoing port modernisation, IEAG cautioned that the adoption of artificial intelligence in customs and port operations must be carefully managed. Awingobit said any AI-driven systems must be transparent, secure and fully integrated with Ghana’s existing trade platforms, especially the Integrated Customs Management System.
The association supports innovation, but digital upgrades must align seamlessly with national systems to avoid duplication, system conflicts or disruptions to trade, he emphasized. The warning reflects concerns that poorly implemented technology upgrades could reverse efficiency gains if they create compatibility issues or require traders to navigate multiple platforms.
Ghana has invested substantially in port digitisation in recent years, including the implementation of ICUMS and other trade facilitation systems. However, the introduction of competing or incompatible systems has occasionally created confusion and delayed clearance processes, making integration a priority for the business community.
IEAG stressed that sustaining the current gains will require consistent policy support, continued investment in infrastructure and the responsible deployment of technology. The association noted that while progress has been made, maintaining momentum depends on avoiding policy reversals and ensuring that regulatory changes support rather than undermine business planning.
The combination of tax relief, currency stability and inflation control represents a significant shift from the challenging operating environment traders faced in recent years. Ghana experienced severe currency depreciation and inflation spikes that disrupted import pricing, eroded profit margins and forced businesses to adjust pricing frequently.
The return to relative macroeconomic stability has allowed traders to operate with greater certainty about input costs and pricing strategies. This predictability is particularly valuable for businesses that must commit to supply contracts or inventory purchases months in advance.
Even so, the association believes that VAT relief, a steadier cedi, falling inflation and gradual digital upgrades are already helping traders operate in a more stable, predictable and business-friendly environment. The improvements are expected to support trade volumes and competitiveness as Ghana seeks to position itself as a regional trade hub.
IEAG represents businesses engaged in import and export activities across multiple sectors, including consumer goods, industrial inputs and agricultural products. The association’s assessment reflects the experience of traders operating at different scales and in various segments of Ghana’s trade economy.
The organization has historically advocated for policy reforms aimed at reducing trade costs and improving the business environment. Its positive assessment of recent changes suggests that government efforts to stabilise the economy and streamline trade processes are being recognised by the private sector.