News
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.
unapparelled luxury
(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
News
Steps underway to repeal L.I 2462 – Prez assures
President John Dramani Mahama has assured Ghanaians that steps are underway to repeal Legislative Instrument 2462 as part of efforts to protect the country’s forests and water bodies.
During his media encounter at the Jubilee House, the president explained that the repeal will formalise the ban on mining in forest reserves and strengthen enforcement against illegal mining.
He stressed that his administration is committed to safeguarding the environment, reclaiming degraded reserves, and deploying more personnel to protect river bodies across the country.
By: Jacob Aggrey
News
9 forest reserves recovered from illegal mining – President Mahama
President John Dramani Mahama has announced the recovery of nine forest reserves from illegal mining under his government’s intensified environmental protection drive.
Addressing journalists at the Jubilee House, the president explained that hundreds of excavators, water pumps and other equipment have been seized as part of the operation, while degraded areas are being reclaimed and restored.
He reaffirmed his administration’s commitment to end mining in protected areas, deploy more personnel to safeguard river bodies and strengthen laws to secure Ghana’s natural resources for future generations.
This notwithstanding, President Mahama revealed that two of the retrieved forest reserves had gone back into the hands of illegal miners, however, adequate measures have been put in place to reclaim them.
By: Jacob Aggrey
