”Your remarkable accomplishments will ensure your legacy endures,” stated Vice President Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), to President Nana Addo Dankwa Akufo-Addo.
During the party’s manifesto launch in the Western Region on Sunday, August 18, Dr. Bawumia emphasized that the current administration had committed to enacting change and that “substantial progress” has indeed been achieved.
We promised change and we have made significant progress. Mr. President, I can assure you that history will be kind to you, and you will be remembered for your unprecedented achievements.
In the meantime, Bawumia has reaffirmed his dedication to honoring all commitments made to the citizens of Ghana. He stated that his administration will prioritize the implementation of innovative solutions aimed at enhancing business opportunities and job creation.
As part of this initiative, he pledged to introduce policies that are conducive to business, including a favorable tax environment and direct incentives designed to foster business growth.
Among these incentives are:
1. incentivise Ghanaian start-ups in selected, strategic sectors with Investment Tax Credits (ITC) for the first three (3) years of their operations.
2. Flat Rate for all importers; bringing predictability and stability on prices of imported goods.
3. harmonise port charges to align with charges in competing regional ports, particularly Togo. Duties at our ports will be same or lower.
4. use Government’s purchasing power to stimulate industrial expansion and business growth, which will help create jobs, by rolling out a “Buy Ghana First” policy under which all goods and services procured by the public sector will first be filled by goods and services produced locally.
5. Implement a shift in electricity tariffs structure to a regime in which commercial rates are either equal to, or lower than residential rates, never higher, to power industries and businesses.
6. establish an SME Bank to meet the special financing needs of small and medium businesses, which employ over 80% of Ghanaians.
7. reform the licensing regime for the small-scale mining sector, reduce the minerals export tax to 1% to discourage gold smuggling, and establish a Minerals Development Bank to finance viable local mineral projects, small scale miners, as well as Ghanaian mining and mining services firms.
8. complete the digitalisation of land titling and registration to allow owners of landed properties to use their properties as collateral to raise capital for business growth and expansion.
9. Special Economic Zones (Free Zones) will also be created in collaboration with the private sector at Ghana’s major border towns such as Aflao, Paga, Elubo, Sankasi and Tatale to enhance economic activity, increase exports, reduce smuggling and create jobs.
