Mark Badu-Aboagye, CEO of the Ghana National Chamber of Commerce and Industry (GNCCI), has called on the incoming administration led by President-elect John Dramani Mahama to prioritize supporting the private sector to drive economic growth and revenue generation.
Speaking during an interview on Joy News’ PM Express, Business Edition, Badu-Aboagye emphasized the vital role the private sector plays in sustaining government finances.
“No government will survive without supporting the private sector,” Badu-Aboagye stated. He went on to explain that the key to financial stability is not simply raising taxes or increasing their number, but creating an environment where businesses can grow.
“If you need money, support the private sector; they will expand, and the taxes will come,” he said, stressing the importance of a thriving private sector in generating consistent revenue for the government.
His remarks come at a crucial time, as discussions surrounding the future of Ghana’s tax policies and business environment remain high on the political agenda.
Many have voiced concerns about the impact of tax hikes on businesses, especially in light of the economic challenges faced by the nation.
Badu-Aboagye’s perspective offers a refreshing approach to this ongoing debate.
“It’s not about the rate or the number of taxes; it’s about compliance and effectiveness,” Badu-Aboagye concluded.
