Tema, Takoradi ports lose over $100m in import duties

• Posted on November 5, 2019
• by Ellsamwise King
• Comment

A JoyNews investigation has revealed how cement manufacturing companies shortchanged the country with over $100million lost at the ports.

Leaked confidential documents from national security reveal that the Tema and Takoradi ports lost millions of dollars in import duties and taxes on tonnes of clinker imported by cement manufacturing companies over the last five years.

In a three-part series titled ‘Leaking Ports’ Joy News’ Kwetey Nartey takes a look at how the absence of weighbridges at the ports contributed to this massive revenue losses.

The annual consumption of cement in Ghana is estimated to be 5 million tonnes per year, 2018 statistics from Trade Information website – Ghana trade.

Leaked files from the national security reveal that in the last five years, there has been a significant and steady increase in the quantities of clinker imported by cement manufacturing companies in the country.

Data from the Ghana Shippers Authority reveal 1.8 million tonnes of clinker was imported in 2014, 1.2 million in 2015, 1.4 million in 2016, 1.9 million in 2017 but 895, 519 in 2018.  

In 2017, two more cement factories went into production, increasing the country’s capacity. This should normally have resulted in an increase in the importation of clinker in 2018.

Source: MyJoyOnline