Mahama blames economic mismanagement for Ghana’s investor exodus, promises tax cuts

John Dramani Mahama, the flagbearer of the main opposition National Democratic Congress (NDC), has criticised the Akufo-Addo-led administration’s economic management, attributing the country’s declining appeal to investors and businesses to high taxation and poor fiscal policies.

Speaking at a community engagement event in Wamfie, Dormaa East constituency, Mr. Mahama asserted that Ghana’s current economic environment is driving away potential investors and importers, who are now opting for other West African countries.

“Due to economic mismanagement, businesses are reluctant to come to Ghana. The high taxation has severely hampered the economy and deterred investors,” he said.

Mr. Mahama emphasised that the burdensome tax regime has made Ghana less competitive compared to its regional neighbours.

He claimed that under the current conditions, many businesses and investors prefer to establish their operations elsewhere in West Africa.

In response to these issues, Mr. Mahama pledged that a future NDC government would implement significant tax reforms.

He promised the next NDC administration will work to remove some of the taxes to make Ghana a more attractive destination for investors and businesses with a goal to revitalise the economy and bring back the confidence of investors.

Source: classfmonline.com