The Importers and Exporters Association of Ghana is calling for an investigation into alleged phantom imports captured in the 2026 Budget.
The Executive Secretary of the Association, Samson Asaki Awingobit, emphasised in an interview on Frontline on Rainbow Radio 87.5FM that a thorough investigation is necessary to avoid unfairly labeling legitimate traders.
He posited that despite the substantial figures presented by the Minister during the budget presentation, they do not automatically imply wrongdoing.
Finance Minister Dr. Cassiel Ato Forson revealed during the budget presentation that an abuse of Ghana’s import declaration system has been discovered, resulting in billions of dollars being illicitly transferred abroad under the guise of legitimate trade.
He described this as an organized crime, with authorities working around the clock to retrieve the funds and punish those involved.
Between April 2020 and August 2025, over 525,000 transactions, amounting to an equivalent of $83 billion, were processed through the import declaration platform, with only 10,440 transactions linked to actual imports, accounting for about $52 billion.
Approximately $31 billion was transferred outside Ghana without corresponding goods entering the country.
Commenting on this, Mr. Awingobit noted that while the figures involved are substantial, there is a need to probe further.
He explained that the industry has long-standing practices that could create temporary mismatches between outgoing payments and the arrival of goods.
According to him, several importers receive goods on credit due to the trust built with suppliers, especially in the frozen foods sector.
He added that some importers pay upfront for year-long supply contracts, with shipments arriving in tranches, making it easy to misinterpret the data if examined in isolation.
By: Rainbowradioonline.com/Ghana
