Governments across West Africa have been urged to adopt comprehensive tax policies that effectively harness women’s contributions to national revenue mobilisation.
The President of the Chartered Institute of Taxation, Ghana, George Ohene Kwatia emphasises that such policies are crucial for the region’s economic advancement.
Speaking at the Society of Women in Taxation West Africa International Conference in Accra, Kwatia highlighted the significant role women play in driving revenue mobilisation.
“Women’s contribution to informal trade accounts for 64% of the value added to national Gross Domestic Product (GDP) in some countries. In Benin, it’s 46%, and in Chad, 41%. Nigeria, due to its large population and rapid urbanisation, is in a unique position to leverage this potential,” Kwatia stated.
He further explained that empowering women in these sectors could reduce unemployment in rural areas and curb the trend of rural-urban migration.
Additionally, Kwatia noted, “Women’s involvement in the economy can foster micro-enterprise growth, reduce poverty, improve food security, and significantly empower women. However, realising this potential requires the development of innovative public policies that strengthen the social capital of women and better integrate government initiatives.”
The Chairperson of the Society of Women in Taxation Ghana, Esi Sam also emphasised the critical role women play in the informal economy.
She underscored the importance of educating women on taxation to enable them to contribute more to national development.
“Women’s economic activities range from trade and sewing to formal employment. While formal employment is taxed through the Pay As You Earn (PAYE) system, many in the informal sector are not contributing to the tax system,” Sam explained.
The two-day event, themed “Revenue Generation in Developing Economies: Women’s Contributions to Sustainable Economic Development in West Africa”, brought together key stakeholders to explore how women can play a more significant role in driving economic growth through enhanced tax policies.