The Ghana Publishers Association (GPA) has announced an impending surge in book prices, signaling a 40 percent increase scheduled to come into effect from June 1, 2024.
This announcement is as a result of what the association identifies as a “challenging business environment,” compounded by the imposition of a 27.5 percent Value Added Tax (VAT) on a range of materials imported into the nation to bolster education, culture, and lifestyles.
Mr. Asare Konadu Yamoah, President of the GPA, says the VAT is intended to bolster local book printing in Ghana.
However, despite these efforts, he highlighted that it had not led to a decreased importation or reduced book costs within the country.
In response to this development, parents and traders across various sectors have voiced their concerns and opinions to RGGNEWS regarding the impending price hike and its potential implications.
Speaking on behalf of concerned parents, Mrs. Ama Ansah, a mother of two school-aged children, was worried about the affordability of educational materials. “As a parent, ensuring my children have access to quality education is my top priority. However, with the imminent increase in book prices, I fear that many families, including mine, will struggle to afford essential learning materials,” she remarked.
Similarly, Mr. Kwame Boateng, owner of a small bookshop in Osu, shared his insights on the matter saying, the proposed increase in book prices will undoubtedly affect our sales volume.
“Many customers are already hesitant to purchase books due to financial constraints, and this additional burden will only exacerbate the situation,” he noted.
