2026 Budget: Importers Call for Full Investigation Into Alleged $31bn ‘Ghost Imports’

The Importers and Exporters Association of Ghana is urging authorities to conduct a comprehensive investigation into the alleged phantom imports cited in the 2026 Budget, stressing that the figures must be properly understood to avoid unfairly accusing legitimate importers.

Executive Secretary of the Association, Samson Asaki Awingobit, acknowledged that the data presented by Finance Minister Dr. Cassiel Ato Forson is concerning, but noted that the numbers alone do not prove any illegal activity.

He insisted that the matter demands a deeper national inquiry.

Speaking to Citi Business News, he stated, “The Minister’s announcement is worrying, but with my experience in the sector, I believe we need to dig further beyond what was said.”

His comments follow Dr. Forson’s revelation that approximately $31 billion left Ghana without corresponding imports, forming part of $83.83 billion in supposed import payments.

Dr. Forson cautioned that these financial leakages are draining foreign reserves, weakening the cedi, and depriving the nation of crucial revenue. Audits also uncovered nearly GH¢76 billion in under-declared imports.

However, the Importers and Exporters Association argued that long-standing industry practices can lead to temporary discrepancies between payments made and goods received.

Awingobit noted that many local importers, particularly in the frozen foods sector, receive goods on credit from suppliers due to established trust.

He explained, “Sometimes funds leave the country with expectations that goods will follow, but they may not arrive immediately. That doesn’t automatically imply money laundering.”

He further highlighted that some importers pay in advance for annual supply contracts, with deliveries made in batches—making the data easy to misinterpret when viewed without context.

Awingobit called for a fair and thorough investigation, adding, “We must ask questions and look into it properly… I’m glad the Minister has referred some individuals and companies to EOCO and the FIC for further investigations.”