Ghana can be the foremost country on this continent – Bawumia
“We need to be able to bring interest rate down for businesses to be able to function, you are competing and you are borrowing at %32 and your competitor in another country is borrowing at %5, obviously you have lost the game, you are not competing so we need to understand that and be able to bring the interest rate down. We need stability in the exchange rate and also a lot of predictability and reasonableness on the import duties we pay as a country.”
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The flagbearer of the ruling New Patriotic Party (NPP) and the Vice President, Dr. Alhaji Mahamudu Bawumia is optimistic that Ghana can be the foremost country on this continent.
He said it is possible if the private sector plays their roles well and does what is required of everyone as a country.
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“One of the key areas you will have to do as a flagbearer is to put together your manifesto committee and charge that manifesto committee with coming up with new ideas, new ways of looking at things. I am very very clear in my mind that Ghana can be the foremost country on this continent. It is possible, when you look at the role of the private sector, it is very very clear and philosophically I am very very macharized to the private sector.” Dr. Bawumia said this when he engaged Ghana Chamber of Commerce and Industry in Accra on Wednesday, 20th March, 2024.
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He emphasized the need to work hard and bring the necessary changings to bring efficiency and bring in competitors.
According to Dr. Bawumia, it is important for Ghana to become a business friendly and tax competitive country.
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“And it is very very clear that for us to do what we ought to do, to be the leading among the leading countries on this continent then the private sector must play its appropriate role. And so I am very clear that we need to look at what is working and what is not working and make the necessary changes to bring in efficiency, bring in competitors. I think that it is very important that we become a business friendly country, it is very important that we become a very tax competitive country.” The NPP flgabearer added.
He stressed that for Ghana to be an effective competitor to other countries, interest rates must go down for businesses to be able to function and also import duties should be reasonable for business people to be able to pay.
“We need to be able to bring interest rate down for businesses to be able to function, you are competing and you are borrowing at %32 and your competitor in another country is borrowing at %5, obviously you have lost the game, you are not competing so we need to understand that and be able to bring the interest rate down. We need stability in the exchange rate and also a lot of predictability and reasonableness on the import duties we pay as a country.” Dr. Bawumia indicated.
Source: Elvisanokyenews
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