Former President John Dramani Mahama recently unveiled a comprehensive plan to strengthen Ghana’s extractive sector in order to increase domestic revenue, improve local involvement, and lessen the tax burden on individuals and companies.
A variety of strategies, including legislative reviews, anti-corruption campaigns, strategic investments, and sector-specific reforms, are included in the visionary approach.
Mahama’s overarching vision serves as a guide for directing the country toward increased economic prosperity.
The promise to review current laws governing the extractive industry, to conduct a comprehensive legislative appraisal, to maximize Ghana’s share of revenue from natural resources, and to encourage greater local participation in the extraction processes are at the heart of Mahama’s vision.
With this initiative, the people of Ghana will hopefully benefit from resource exploitation in a more equitable manner.
The statement emphasizes how the suggested actions, which range from sector-specific reforms to legislative reviews, are in line with the overarching goal of building a robust and diverse economy that benefits every citizen.
“We would review our laws governing the extractive industry so that Ghana can increase its share and local participation in exploiting our natural resources.
“With improved revenues from the savings made from a reduced size of government, anti-corruption fight, fast-tracked operationalization of new oil and gas wells, increased investment in the mining sector, and a revamped cocoa sector, we can ease the heavy burden of tax that has been placed on Ghanaian households and businesses.”
#24HourEconomy speech at the Ghana CEO Cocktail.
“We would review our laws governing the extractive industry so that Ghana can increase its share and local participation in exploiting our natural resources.
With improved revenues from the savings made from a reduced size of government, anti-corruption fight, fast-tracked… pic.twitter.com/dFzhkiSNPH
— John Dramani Mahama (@JDMahama) December 9, 2023
Meanwhile, Vice President Dr. Mahamudu Bawumia has issued a clarification regarding statements attributed to him during the Ghana Investment Promotion Centre (GIPC) awards ceremony. Contrary to circulating interpretations, he emphasized that he never asserted that the Ghana Card could be used directly to purchase a car.
The initial comments that sparked discussions were made by Dr. Bawumia at the GIPC Awards event, where he underscored the government’s commitment to harnessing technology for efficient services.
He highlighted the multifaceted utility of the Ghana Card, suggesting its integration into various aspects of daily life, including facilitating transactions.
