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Ghanaian prez announces textile industry stimulus package

25
Feb '19
Pic: Digital Buggu from Pexels
Pic: Digital Buggu from Pexels
Ghanaian President Nana Addo Dankwa Akufo-Addo recently announced a stimulus package to boost the country’s struggling textile industry in his State of the Nation Address to parliament. The domestic textile industry has been granted a zero-rated value added tax (VAT) on the supply of locally-made textiles for three years, the president announced.

A tax stamp regime has been put in place for both domestically-manufactured and imported textiles to address the menace of pirated designs and logos, a news agency report quoted the president as saying.

The Tema port had been designated as a single-entry corridor for the import of textile prints, with a textile taskforce in place to ensure effective compliance, and reduce, if not eliminate, smuggling of imported textiles, President Akufo-Addo said.

A new textile import management system has also been set up to control textile imports.

Under the Rural Enterprises Programme, funded by the African Development Bank and the International Fund for Agricultural Development, 50 small-scale processing factories would be established by the end of the year in 50 districts, particularly in areas where there was evidence of significant post-harvest losses, he added. (DS)

Fibre2Fashion News Desk – India


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