Bawumia pledges business-centric administration to GUTA

Vice President Dr. Mahamudu Bawumia, and the Flagbearer of the New Patriotic Party (NPP), has assured Ghanaian businesses of a forthcoming administration focused on bolstering economic transactions through business-friendly tax reforms.

Dr. Bawumia

Addressing members of the Ghana Union of Traders’ Association (GUTA) in Accra, Dr. Bawumia reiterated his commitment to implementing a flat-rate tax system, following a tax amnesty for all businesses and individuals in 2025.

He outlined plans to align Ghana's port duties with those of Lome Port, Togo, ensuring parity or lower tariffs to deter smuggling and cargo diversions to neighboring ports. Specific duties on container sizes would also be introduced to stabilize the pricing of imported goods.

Dr. Bawumia emphasized the significance of the Bank of Ghana's gold purchasing policy in stabilizing the local currency, thereby enhancing price predictability.

"My government will prioritize businesses, aiming to establish Ghana as one of the world's most business-friendly economies," stated Dr. Bawumia.

He further disclosed plans to implement a Credit Scoring System for entrepreneurs and individuals by June, facilitating lower interest rates for honest loan repayments. Additionally, government borrowing would be reduced by transferring expenditures to the private sector.

To address energy challenges, Dr. Bawumia announced a focus on solar power, aiming to produce 2,000 megawatts of solar energy within the initial four years of his presidency.

Acknowledging GUTA's positive reception of his policy proposals, particularly on tax amnesty and container rates, Dr. Bawumia expressed gratitude for the association's engagement.

Dr. Joseph Obeng, President of GUTA, highlighted the challenges Ghanaian entrepreneurs face, including high operational costs. Both parties looked forward to fostering a more conducive environment for business growth and prosperity in Ghana.

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