President Akufo-Addo reiterate the need for relevant policies

Ahead of the 2019 budget reading on Thursday [November 15, 2018], President Akufo Addo has said he is confident that the continuous adoption of appropriate policies by his government would enable them achieve their set objectives.

The president made the comments on a panel discussion at the 2018 Africa Investment Forum in Johannesburg, South Africa.

According to the president, Ghana can only remain competitive on the global market with the introduction and implementation of appropriate policies.

“A key focus of government is the appropriateness of policy, which we’ve seen in all the other parts of the world which have succeeded. A major function of that success has been appropriate policy. What are you going to do to be able to stimulate industrial activity, what are you going to do to be able to stimulate the transformation of your agriculture, what are you going to do to rationalize the effectiveness of your financial sector. So those are the measures that are occupying the attention of my government.”

The 2018 Africa Investment Forum in South Africa which was scheduled from November 7 to 9, was powered by the African Development Bank.

The entire forum was to enable invited Heads of State and governments to engage with the investor community and explore potential investments and financing.

Ghana’s President Akufo-Addo who left Accra on Tuesday November 6 for the forum joined 3 other panelists including Nigerian Vice President Oluyemi Osinbajo for a discussion dubbed CHAMPIONING INVESTMENTS: PRESIDENTIAL INVESTMENT CHATS.

While answering another question on the measures his government is putting in place to ensure the country thrives, President Akufo-Addo highlighted the importance of an expanded tax base for the achievement of the Ghana Beyond Aid agenda.

“Less than 6 percent of our people are part of the tax paying population of the country. 1.5 million People pay tax in Ghana, a figure which is not acceptable. It is not feasible because the state itself doesn’t have the capacity to be able to ensure that the people that need to be in the tax net are in the tax net. That’s a major focus of my government.”

The president stated that all efforts are being put in place to widen the tax base to raise more revenue.

“We’re talking in Ghana of a Ghana Beyond Aid. But if only 6 percent of our people are within the tax net that already poses a major structural problem. So that’s an important focus for my government.”

The President left Ghana on Tuesday for South Africa to participate in the Africa Investment Forum, at the invitation of the African Development Bank.

Source: Citi Business News

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