Musician B.K Applauds NPP Government’s Transformative Cedi Duty Payment Policy – Full Details HERE!
B.K Hails NPP’s Move to Pay Import Duties in Local Currency
Renowned Belgium-based Ghanaian Afrobeat artist, B.K, has expressed admiration for the NPP government’s recent announcement regarding changes to the import duty payment system in Ghana.
This policy, which is set to take effect in 2025, allows for import duties to be paid in the local currency, the Ghana cedi, rather than U.S. dollars, marking a significant shift towards economic independence and stability.
In a statement, B.K emphasized the advantages of this policy, noting that paying duties in cedi will protect businesses from the negative effects of exchange rate fluctuations.
He described the move as a “game-changer for our economy,” highlighting how it will benefit both local businesses and the broader Ghanaian economy.
The new duty payment policy is designed to reduce Ghana’s reliance on foreign currencies and mitigate the risks associated with the volatility of the U.S. dollar.
According to Kojo Oppong Nkrumah, Vice Chair of the NPP Manifesto Committee, the new system will eliminate the uncertainty businesses currently face due to fluctuating exchange rates.
By shifting to a cedi-based duty system, Ghanaian businesses will find it easier to plan and operate without the unpredictability of dollar-based duties. This move is expected to promote local trade, boost economic activity, and create more jobs, thus contributing to overall economic growth.
B.K’s endorsement of the NPP’s policy reflects widespread support for the government’s commitment to making the business environment in Ghana more predictable and sustainable. By introducing a flat-rate, cedi-based duty system, the government aims to simplify tax payments and reduce tax evasion.
B.K’s praise of the NPP government’s policy highlights its potential to positively transform Ghana’s economy. As the country strives for greater economic independence, innovative decisions like this will play a crucial role in shaping Ghana’s future prosperity.
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