Ghana loses over 2.3 billion in taxes to smuggling activities

Ghana is experiencing significant revenue losses due to smuggling activities. The country has lost over $2.3 billion in taxes. Smuggled goods include sugar and rice from Togo, and products from Nigeria. These activities harm the economy and local businesses.

Coca-Cola Managing Director Mr. Felix Gomis shared alarming figures during a visit to customs officials. He stated that $700,000 worth of products are smuggled into Ghana monthly. This amounts to about 150,000 crates from Nigeria alone.

A recent report highlighted major sugar and rice smuggling operations from Togo. These operations have led to an estimated tax loss of $1.3 billion. Smuggling disrupts the economy, causes price fluctuations, and undermines local businesses.

It also erodes public trust in regulatory systems. The Ghana Revenue Authority plans to take immediate action against companies involved in smuggling.

Commissioner Anthony Kwasi Sarpong and Mr. Felix Gomis discussed these issues during their meeting. Smuggling is not limited to these goods; it affects other sectors too, including cocoa.

Last season, over 160,000 tons of cocoa were smuggled out of Ghana, causing significant losses. The government has promised strict measures to combat smuggling effectively. This includes deploying special personnel to monitor customs officers and intercept illegal goods.