B5 Plus Chairman Mukesh Thakwani Advocates for Import Bans Following GH¢400 Million Tax Payment to GRA

Mukesh Thakwani, Chairman of B5 Plus Company Limited, has made a strong appeal to the Ghanaian government to restrict the importation of goods that can be manufactured domestically. This call for protective trade policies coincided with a significant demonstration of corporate responsibility, as the steel and manufacturing giant presented a GH¢400 million tax cheque to the Ghana Revenue Authority (GRA). The dual move highlights the company's position as both a major contributor to national revenue and a vocal advocate for industrial growth under the current administration.

During a media engagement with GRA officials, Mr. Thakwani pointed out that Ghana's domestic manufacturing capacity is currently significantly underutilized, with industry reports suggesting utilization rates remain below 50%. He argued that allowing competing imported products to dominate the local market stifles growth and wastes existing industrial infrastructure. By imposing bans on these imports, Thakwani contends that the government could foster substantial job creation, boost exports to neighboring West African countries, and drastically reduce the nation's expenditure on foreign exchange.

The B5 Plus Chairman also raised concerns regarding the fiscal environment, specifically criticizing the tax exemptions granted to certain competing imports. He questioned the fairness of the current tax treatment and urged the government to provide more robust support for local manufacturers who are committed to national development. Despite these challenges, Mr. Thakwani reaffirmed B5 Plus’s commitment to international quality standards and corporate citizenship, emphasizing that the company is well-positioned to serve both the Ghanaian and broader West African markets if given the right policy backing.

Receiving the GH¢400 million tax payment, GRA Commissioner Dr. Martin Kolbil Yamborigya commended B5 Plus for its high level of compliance, noting that such contributions are vital for enhancing domestic revenue mobilization and reducing Ghana's reliance on external borrowing. Dr. Yamborigya urged other businesses to emulate this transparency and emphasized the importance of proper record-keeping to ensure efficient public resource management. This interaction underscores a growing dialogue between the private sector and the state on how best to align fiscal policy with industrialization goals to secure long-term economic stability.