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Ghana adopts new business-friendly policy initiatives: president

ACCRA, June 21 (Globe Afrique) – The president of Ghana President Nana Dankwa Akufo-Addo said on Wednesday that his government had put policy proposals in place to encourage and bring relief to businesses in his country.

The plans include measures to stimulate the private sector, a monetary policy that will soothe the national currency and ease significantly the cost of borrowing, in addition to a raft of tax cuts.

“These interventions are already lowering the cost of doing business, and shifting the focus of our economy from taxation to production,” Akufo-Addo said while addressing a luncheon organized for members of the Standing Committee on Foreign Affairs of the International Democratic Union (IDU) in Accra, Ghana.

The president said his administration also seeks to boost business atmosphere make Ghana an easier place to conduct business through paperless transactions at ports and the removal of all internal customs barriers by the beginning of September.

He said this process of economic and industrial transformation was going along with ensuring that the most basic elements of social justice were met – making quality basic education and healthcare accessible to all – to promote a culture of incentives and opportunities. The IDU is a working association of over 80 Conservative, Christian Democrat and like-minded political parties of the center and center right. Formed in 1983, the IDU provides a forum in which parties holding similar beliefs can come together and exchange views on matters of policy and organizational interest.

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Michael Harrington

Michael Harrington is a researcher and senior contributing reporter with Globe Afrique Media.
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