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Taxes have become more of a punishment to businesses – Badu-Aboagye
The Chief Executive of the Ghana Chamber of Commerce and Industry, Mark Badu-Aboagye, has expressed serious concerns about the escalating burden of both direct and indirect taxes on businesses in the country.
Speaking on JoyNews’ PM Express, Mr Badu-Aboagye questioned the sustainability of business profitability in the face of increasing costs and taxes.
He argued that taxes have become an albatross on business growth.
“I think that our taxes have become more of a punishment to businesses than to support them. This is because we cannot pay, but they’re expecting you to pay.
“They are beating us but they are telling us to keep quiet,” he said on Thursday.
The CEO underscored the importance of not just introducing new taxes but also focusing on their efficiency and impact on businesses.
He emphasized the detrimental effect of the continuous introduction of new taxes, expressing the belief that these measures are ultimately hindering rather than promoting business growth.
“Businesses are suffering. Businesses cannot pay this tax. Businesses are just not making enough revenue to be able to pay this tax,” he told host George Wiafe.
Drawing attention to the economic indicators, he cited the GDP as a key measure of the state of businesses in Ghana.
Mr Badu-Aboagye highlighted the concerning trend in the growth of GDP, indicating that most sectors are not performing well.
According to him, the industry sector, in particular, has recorded negative growth consistently throughout 2023, revealing the overall challenges faced by businesses.
“As of the third quarter of 2023, the growth of GDP was 2%. And when you look at the details you will realise that most of the sectors are not doing well. Consistently from the beginning of the year to now. The industry sector has recorded negative growth. It’s only in the last quarter that the manufacturing sector recorded a 2% growth. So it shows clearly that businesses are not doing well.
“If they are doing well, they produce a lot and by multiplying it by the market value, you will see that your GDP will go higher. So it’s not far-fetched, if the government wants to know the state of businesses in Ghana, just check the GDP.”
Source: Myjoyonline.com
The Ghana High Commission in Pretoria has advised Ghanaians living in South Africa to remain vigilant and take precautionary measures ahead of planned protest activities expected on June 30.
In a public advisory issued on Monday, June 29, the Mission urged Ghanaian nationals to prioritise their safety following a deadline announced by a group known as “March and March” and its affiliated organisations, which could lead to demonstrations and disruptions in parts of the country.
The High Commission advised Ghanaians to stay indoors, especially in central business districts, transport hubs, informal trading areas and other locations where protests may occur.
It encouraged them to temporarily close their businesses where necessary and avoid unnecessary movement until the situation stabilises.
The Mission further urged members of the Ghanaian community to avoid confrontations or provocative discussions, including on social media, and to ensure that their passports, residence permits and other identification documents were readily available at all times.
According to the High Commission, emergency telephone lines have been activated to provide assistance and receive reports from Ghanaians who may require help during the period.
It encouraged Ghanaians to remain calm, obey the laws of South Africa and cooperate fully with local authorities.
The Mission advised them to rely only on information from credible official sources and avoid sharing unverified reports or rumours that could create unnecessary panic.
The Ghana High Commission assured the Ghanaian community that it would continue to monitor developments and provide updates when necessary, adding that it remained committed to protecting the welfare of all Ghanaian nationals in South Africa.
By: Jacob Aggrey
The New Patriotic Party (NPP) has criticised the government’s handling of the flooding that hit parts of Accra and surrounding communities on Monday, urging it to move beyond what it described as public relations activities and take decisive action to address the country’s flood challenges.
In a press release issued on June 29, the party expressed sympathy to thousands of people affected by the floods but maintained that the government had failed to respond effectively to the recurring disaster.
The NPP noted that communities including the N1 Highway, Apenkwa, Achimota, Kaneshie, Weija, Spintex, Darkuman Junction and the Kwame Nkrumah Interchange were flooded after heavy rains.
According to the party, these communities have experienced flooding repeatedly over the years, making it necessary for government to adopt long term solutions.
The NPP argued that the current administration had created confusion by splitting responsibility for flood management between the Ministry of Local Government and the Ministry of Works, Housing and Water Resources.
It claimed that the arrangement had resulted in poor coordination, with the two ministries competing over responsibilities instead of working together to address the problem.
The party questioned the decision to place Deputy Chief of Staff Stan Dogbe in charge of coordinating flood response efforts.
According to the NPP, he does not have the authority to direct ministers, making the current command structure ineffective.
The opposition party further alleged that some anti flood measures announced by the government had either not been implemented or had been poorly executed.
It claimed that delays in the release of funds for flood mitigation programmes had affected ongoing interventions.
The NPP rejected recent comments by President John Dramani Mahama that flooding was partly caused by poor environmental practices and indiscipline among some citizens.
It argued that while public cooperation was important, the government should take responsibility for designing and implementing effective flood management policies.
The party called on the President to place flood management under one ministry, appoint a single minister to lead the response, and provide a public account of the work and spending of the Anti Flood Task Force.
It also urged the government to work closely with Metropolitan, Municipal and District Assemblies and technical experts to improve land use planning, sanitation management and drainage infrastructure.
The statement, signed by the NPP General Secretary, Justin Kodua Frimpong, stressed that the party would continue to hold the government accountable while standing with families affected by the floods.
By: Jacob Aggrey
