Tuesday, 14 October

Gov't to waive taxes on agro-processing machinery to boost agribusiness growth

Business
Samson Ahi

The Deputy Minister for Trade, Agribusiness and Industry, Mr Sampson Ahi, has announced a government plan to waive taxes on agro-processing machinery as part of efforts to attract investment and enhance productivity in Ghana’s agribusiness sector.

According to the Deputy Minister, the initiative forms part of a two-pronged strategy aimed at promoting agro-industrialisation and achieving machinery sufficiency within the sector.

The tax relief, he said, will lower operational costs for agro-processors, expand access to modern machinery and technology, and improve efficiency across the entire value chain.

In the medium to long term, the government intends to retool and strengthen local machinery manufacturing, a move expected to create jobs, spur innovation, and deepen the country’s industrial capacity.

Mr. Ahi disclosed that the Ministry of Trade, Agribusiness and Industry is developing a comprehensive National Agribusiness Policy to promote value addition, productivity, export competitiveness, and employment.

The policy, he explained, will address the entire value chain to ensure sustainability, inclusivity, and long-term growth.

Highlighting key government programmes such as the Feed the Industry Programme, Rapid Industrialisation Programme, and Accelerated Export Development Programme, the Deputy Minister noted that these interventions are central to Ghana’s 24-hour economy vision.

They are designed to expand industrial capacity, strengthen supply chains, and promote local content participation.

Mr. Ahi urged strong collaboration among stakeholders, stressing that the government alone cannot drive the transformation agenda.

He encouraged participants to use ongoing consultations to propose region-specific priorities for inclusion in the upcoming National Agribusiness Policy.

Speaking on the theme “Resetting Agribusiness for Inclusive and Sustainable Industrial Growth,” the Deputy Minister described the initiative as timely and crucial to Ghana’s economic transformation.

He underscored the need to enhance competitiveness and operational efficiency to drive growth and job creation within the sector.

 

The government’s interventions, he added, are geared towards transforming Ghana’s agribusiness landscape — creating employment, boosting exports, and ensuring equitable growth that benefits all stakeholders across the value chain.

Source: Classfmonline.com/Edem Afanou