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NPP Manifesto launch: Bawumia outlines 9 incentives to boost businesses
The flagbearer of the New Patriotic Party (NPP) Dr. Mahamudu Bawumia has outlined 9 incentives to boost businesses when voted as President.
According to him, this is aimed at creating a business-friendly environment for businesses to thrive.
He made this promise when presenting the party’s 2024 manifesto in Takoradi.
In his address, he outlined plans for a new tax regime under his administration, specifically designed to foster business growth and stimulate economic development.
Read the 9 incentives below
(a) Offering Investment Tax Credits (ITC) to incentivize Ghanaian start-ups in strategic sectors during their first three years of operation.
(b) Introducing a Flat Rate for all importers to bring predictability and stability to the pricing of imported goods.
(c) Harmonizing port charges to align with those of competing regional ports, particularly in Togo, ensuring that duties at Ghanaian ports are the same or lower.
(d) Utilizing the government’s purchasing power to stimulate industrial expansion and business growth by implementing a “Buy Ghana First” policy, where public sector procurement prioritizes locally produced goods and services.
(e) Reforming electricity tariffs to establish a structure where commercial rates are equal to or lower than residential rates, ensuring affordable power for industries and businesses.
(f) Establishing an SME Bank to address the specific financing needs of small and medium enterprises, which employ over 80% of Ghanaians.
(g) Reforming the licensing regime for the small-scale mining sector, reducing the minerals export tax to 1% to curb gold smuggling, and establishing a Minerals Development Bank to finance viable local mineral projects, small-scale miners, and Ghanaian mining services firms.
(h) Completing the digitalization of land titling and registration, enabling property owners to use their assets as collateral to raise capital for business growth and expansion.
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(i) Creating Special Economic Zones (Free Zones) in collaboration with the private sector at major border towns such as Aflao, Paga, Elubo, Sampa, and Tatale to enhance economic activity, increase exports, reduce smuggling, and create jobs.
By Edem Mensah-Tsotorme
The Diaspora Affairs Office at the Office of the President has hosted a delegation of African diaspora women who are in Ghana ahead of a planned Presidential Conferment of Citizenship ceremony.
The Director of Diaspora Affairs, Kofi Okyere Darko, explained in a Facebook post that the visit was a gesture of appreciation by the delegation to the Government of Ghana for its continued efforts to reconnect Africans in the diaspora with their ancestral homeland.
He indicated that the ceremony, scheduled for next Monday, will officially grant Ghanaian citizenship to members of the delegation as part of the country’s broader engagement with the African diaspora.
The delegation was led by Erica Bennett, Founder of the Diaspora Africa Forum.
According to Mr Okyere Darko, her years of advocacy have played an important role in strengthening ties between Africa and people of African descent living abroad.
He noted that the group’s journey towards citizenship represents not only a legal process but also a cultural and spiritual return to their roots.
Also present at the meeting was Natalie Jackson, an attorney who is also expected to receive Ghanaian citizenship during the ceremony. She works closely with renowned civil rights lawyer Ben Crump.
Mr Okyere Darko emphasised that Ghana remains committed to strengthening relationships with the African diaspora and promoting unity, identity, and shared heritage among people of African descent worldwide.
By: Jacob Aggrey
Ghana has signed a debt restructuring agreement with the Kingdom of Belgium as part of efforts to restore the country’s economic stability after the financial crisis that hit the nation in 2022 and 2023.
The Minister of Finance, Cassiel Ato Forson, today disclosed that he signed the agreement on behalf of the Government of Ghana.
He explained that Ghana experienced a very difficult period during the crisis, which forced the government at the time to declare a debt default.
However, he indicated that the country is now recovering and witnessing a significant economic turnaround.
According to him, stronger systems are also being put in place to ensure that Ghana does not return to such a situation again.
Dr Forson noted that the agreement with Belgium is the eighth deal Ghana has concluded with countries under the Official Creditor Committee as part of its external debt restructuring programme.
He expressed appreciation to the Government of Belgium for its support and partnership with Ghana during the process.
The Finance Minister thanked Carole van Eyll, Ambassador of Belgium to Ghana, for her role in strengthening relations between the two countries.
The agreement forms part of Ghana’s broader effort to restructure its external debts and stabilise the economy following the crisis.
By: Jacob Aggrey
