KMA Boss announces new tariff regime to protect Ghanaian businesses from foreign dominance

The Kumasi Metropolitan Chief Executive, Hon. Richard Akwasi Ofori-Agyemang, has announced a major policy shift by the Kumasi Metropolitan Assembly (KMA) to give Ghanaian-owned businesses a competitive advantage over foreign operators in the metropolis.

Under the proposed arrangement, Ghanaian businesses will pay lower tariffs and levies, while foreign nationals doing business in Kumasi will be required to pay additional charges.

The Mayor disclosed this at the Ghana National Chamber of Commerce and Industry (GNCCI) SMEs Business Forum and Exhibition held in Kumasi on Wednesday.

He said the new tariff regime would be introduced in October this year as part of KMA's broader efforts to strengthen local businesses and protect them from increasing competition.

‘We will give Ghanaian businesses the edge’

According to Hon. Ofori-Agyemang, the policy would ensure that Ghanaian traders are not placed at an unfair disadvantage in their own market.

He explained that while local businesses would continue to pay existing levies, foreign business operators would attract additional charges.

“For every levy that Ghanaian traders are paying, we will add extra for foreign nationals,” he stated.

The Mayor argued that the influx of foreign businesses importing various products into Ghana was creating serious competition for local entrepreneurs.

He said government and local authorities therefore had a responsibility to introduce measures that would make Ghanaian businesses and locally produced goods more attractive.

Kumasi attracts over one million visitors

Hon. Ofori-Agyemang described Kumasi as the hub of trade and commerce, stressing its importance not only to Ghana but to the wider West African sub-region.

He said the metropolis receives more than one million visitors from across the West African sub-region daily, making it one of the country's most important commercial centres.

He urged traders to take advantage of the prevailing economic conditions, particularly the relative stability of the Ghana cedi against the US dollar, to make better business decisions.

He noted that the stability had made it easier for businesses to predict costs, plan ahead and make investment decisions.

However, he warned that the same economic stability was attracting foreign operators into the Ghanaian market, with many importing goods that compete directly with locally produced products.

Local products must improve
Despite the planned preferential treatment for Ghanaian businesses, the Mayor cautioned local entrepreneurs against becoming complacent.

He challenged Ghanaian traders and manufacturers to improve the quality, packaging and presentation of their products.

He said preferential tariffs alone could not guarantee the success of local businesses if their products failed to meet consumer expectations.

He therefore urged Ghanaian businesses to adopt strategies that would make their products attractive enough to compete with foreign goods.

“This will make them competitive globally,” he stressed.

He further assured the business community that KMA would work to ensure that relevant provisions of the GIPC law designed to protect small-scale Ghanaian businesses were enforced.

GNCCI backs proposal
President of the GNCCI, Mr. Abass Stephanie Miezan, welcomed the Mayor's announcement, describing the proposed tariff arrangement as a positive step towards strengthening Ghanaian businesses.

He said allowing local business operators to pay lower taxes and levies could provide significant relief to the private sector.

Mr. Miezan emphasised that the policy should not be viewed as an attempt to drive away foreign direct investment but rather as a means of ensuring that local businesses also receive the support required to survive and grow.

He noted that Ghana was not the first country to introduce measures aimed at supporting domestic enterprises.

The GNCCI President said the Chamber was looking forward to the implementation of the new tariff system.

GNCCI demands stronger financing for SMEs

Mr. Miezan also called on banks to continue innovating around SME-friendly lending products.

He specifically urged financial institutions to explore asset-based financing and digital finance solutions to make credit more accessible to small and medium-sized enterprises.

He also called on the Ghana Enterprise Agency and the 24-Hour Economy Secretariat to collaborate with the Chamber to expand access to structured and affordable financing for SMEs with the capacity to scale up.

He encouraged businesses participating in the forum and exhibition to use the opportunity to establish partnerships, gain knowledge and develop market linkages capable of supporting long-term growth.

He further urged government to sustain reforms in the business environment, particularly in credit infrastructure, collateral reform and industrial policies that encourage sustainable practices.

Ashanti Minister calls for innovation
The Ashanti Regional Minister, Dr. Frank Amoakohene, said the exhibition provided an important platform for local businesses to demonstrate their products and connect with consumers, investors and potential partners.

He urged participants to go beyond displaying their products and use the event to build meaningful partnerships and identify new opportunities.

According to him, the Ashanti Region has enormous economic potential, with SMEs playing a critical role in unlocking that potential.

He assured the business community that government would continue supporting entrepreneurship, local enterprise development and partnerships capable of creating jobs and expanding economic opportunities.

Dr. Amoakohene also urged businesses to embrace innovation, improve product quality and adopt appropriate technology to remain competitive in an increasingly dynamic global marketplace.

The second edition of the GNCCI SMEs Business Forum and Exhibition was held under the theme: “Driving SME Growth through Sustainable Industrial Development.”

Among those present were the Chief of Asokwa, Nana Fe-Baamoah II, representatives of GCB Bank and the 24-Hour Economy Secretariat, as well as the CEO of the Ghana Enterprise Agency, Madam Margaret Ansei, among other stakeholders.

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