Development Bank Ghana (DBG) has reaffirmed its commitment to supporting women-led businesses with the necessary financial backing and skills development to enhance their growth and sustainability.

This commitment was highlighted during an engagement with female students of the Design and Technology Institute (DTI) as part of activities marking International Women’s Day 2025.

Speaking to the media on the sidelines of the event, Deputy Chief Executive Officer of Development Bank Ghana, Michael Mensah-Baah, stressed the bank’s strategic focus on fostering female entrepreneurship and equipping women with the tools needed to succeed in today’s competitive business environment.

“We believe that to be able to change the discourse of a country, we need to ensure that part of our efforts in supporting the private sector is focused on how we can support women-led businesses. Women-led businesses have specific challenges that, if you use the traditional way of supporting them, will not necessarily yield the benefit.

“One of them is the financial literacy part of it. Coming into DIT where it is an institution that is focused on developing women in certain skill set that are traditionally male dominated is actually in line with what we believe in

“A lot of the women coming from this Institute will one day be looking to setup their own businesses. Right from the beginning, we are going to be part of this journey with these women who are here who will one day work with DBG or partner with DBG when they come to the need of looking for funding and also providing technical assistance for their businesses,” he added.

The long-awaited trial of medical staff who treated the late Argentine football legend Diego Maradona has started in the capital, Buenos Aires.

Maradona was convalescing when he died of a heart attack at his home in 2020, aged 60. He had been recovering at home from surgery on a brain blood clot earlier that month.

Prosecutors allege that Maradona’s death could have been avoided and accuse the hospital staff of medical negligence.

The defendants say Maradona had refused further treatment and should have stayed in hospital for longer after his operation.

They risk prison terms between eight and 25 years if convicted on the charge of “homicide with possible intent”.

In an opening statement, the prosecution said it intended to submit “solid” evidence that no member of the team “did what they were supposed to do” in the “horror theatre” that was Maradona’s death bed.

“Today, Diego Armando Maradona, his children, his relatives, those closest to him, and the Argentine people, deserve justice,” prosecutor Patricio Ferrari told the court.

Investigators have classified the case as culpable homicide, a crime similar to involuntary manslaughter, because they said the accused were aware of the seriousness of Maradona’s health condition but did not take the necessary measures to save him.

The defendants in the case are a neurosurgeon, a psychiatrist, a psychologist, a medical co-ordinator, a nursing co-ordinator, a doctor and the night nurse.

The night nurse previously said he had seen “warning signs”, but had received orders “not to wake” Maradona.

More than 100 witnesses will testify at the trial, which is expected to last until July.

Diego Maradona is largely considered to be one of the greatest footballers ever to play the game. He was captain when Argentina won the 1986 World Cup, scoring the famous “Hand of God” goal against England in the quarter-finals.

During the second half of his career, Maradona struggled with cocaine addiction and was banned for 15 months after testing positive for the drug in 1991.

The news of his death threw the football world – and his home country of Argentina – into deep mourning, with many thousands of people queuing for hours to walk by his coffin at the presidential palace in Buenos Aires.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Finance Minister Dr. Cassiel Ato Forson has described Ghana’s Value Added Tax (VAT) system as “distorted” and in urgent need of reform to provide relief for ordinary Ghanaians and businesses.

Speaking on Joy News’ PM Express on Tuesday, March 11, following his presentation of the 2025 Budget Statement to Parliament, Dr. Forson stressed that VAT reform is a critical step in addressing the country’s tax inefficiencies.

“We need to reform VAT—and reform it in such a way that it brings relief to the ordinary Ghanaian household,” he stated.

“If you look at Africa today, Ghana is the only country with an effective VAT rate of about 21.9%. The second highest is Morocco, with about 20%. Clearly, there is a problem with our VAT system.”

Dr. Forson highlighted that Ghana’s VAT structure has multiple layers of inefficiencies, making it burdensome for businesses and consumers alike.

“The VAT rate itself has been distorted. There is a cascading element, and you can see the distortion where sales tax has been mixed with Value Added Tax. We also have flat rates, a standard rate, and many other inconsistencies,” he explained.

Experts and industry players have long criticised Ghana’s VAT structure, arguing that its complexity discourages compliance and places an undue financial strain on consumers.

As the government prepares to engage stakeholders on the proposed VAT review, businesses and consumers alike will be watching closely to see how these reforms will impact prices, economic activity, and overall tax compliance.

According to the Finance Minister, these distortions create unnecessary complications and hinder economic growth.

He pointed out that VAT, in its current form, does not operate efficiently as a consumption tax, which should ideally be structured to minimise burdens on businesses and prevent double taxation.

Dr. Forson assured Ghanaians that the government is committed to a comprehensive review of the VAT system in 2025.

“This year, we want to spend some good time to engage properly and review the Value Added Tax system,” he said, emphasizing the need for a transparent and consultative approach to the reforms.

His remarks signal a major policy shift by the Mahama administration, which has repeatedly emphasized its commitment to reducing the tax burden on individuals and businesses while enhancing revenue collection efficiency.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Dr. Bernice Makafui Brempong and Naana Jane

Dr. Bernice Makafui Brempong, Senior Executive in charge of Investments in Healthcare and Pharmaceuticals at the Office of the President, has been recognized at the 10th Women of Excellence Awards for her outstanding contributions to the pharmaceutical industry in Ghana.

The awards ceremony, held on March 7, 2025, as part of International Women’s Day celebrations, saw Dr. Brempong receive the prestigious honor from Vice President Prof. Naana Jane Opoku-Agyemang.

Driven by her passion for healthcare innovation and governance, Dr. Brempong is a strong advocate for policies that promote sustainable healthcare solutions.

She is committed to empowering women and young professionals in science, healthcare, and entrepreneurship.

Her remarkable contributions have earned her multiple awards, including:

Africa Outstanding Professional Award (2022)

Most Outstanding Female in Pharmaceuticals in Ghana Award (2022)

50 Most Influential Women in Ghana Award (2023)

Beyond her corporate and advisory roles, Dr. Brempong has been actively involved in public health research, leading studies on:

Vaccine manufacturing feasibility

Medication shortages

Cardiovascular disease care

Prior to her appointment at the Office of the President, Dr. Brempong served as Chief Executive Officer of Makhealth Pharmaceuticals Limited.

She gained extensive experience working with some of Ghana’s leading pharmaceutical companies, including Ernest Chemists Limited and Entrance Pharmaceuticals and Research Centre.

She holds a Doctor of Pharmacy degree from Kwame Nkrumah University of Science and Technology (KNUST) and a Master of Science degree in Entrepreneurship from University College London, both obtained in 2022.

She also earned a Bachelor of Pharmacy degree from the School of Pharmacy, University of Ghana, Legon, in 2016.

Her strong academic background and practical experience have allowed her to seamlessly integrate her healthcare expertise with business acumen, driving innovation in healthcare solutions.

The Ghana Women of Excellence Awards is organized under the auspices of the Ministry of Gender, Children, and Social Protection as part of International Women’s Day celebrations.

The 2025 edition was held under the theme “Empowering the Ghanaian Woman for National Development.”

GA

Meanwhile, watch this Ghana Month special edition of People and Places as we hear the story of how the head of Kwame Nkrumah’s bronze statue was returned after 43 years, below:

You can also watch the latest episode of #Trending GH as Ghanaians call for economic solutions instead of KIA renaming

Dr Edward Kofi Omane Boamah, the Minister of Defence

Dr. Edward Kofi Omane Boamah, the Minister of Defence, has reaffirmed Ghana’s commitment to the ideals of the Commonwealth—cooperation, inclusivity, and shared prosperity.

“Let us recognize that in unity, there is strength, and in diversity, there is opportunity,” Dr. Omane Boamah stated in an address at a flag-raising and tree-planting ceremony at the forecourt of the State House on Monday to commemorate the 76th Commonwealth Day celebration in Accra.

The celebration was held under the theme “Together We Thrive.”

Commonwealth Day is an annual celebration of the Commonwealth of Nations, observed on the second Monday in March. The Commonwealth is a voluntary association of 56 independent and equal countries.

The Minister for Defence, who represented Mr. Samuel Okudzeto Ablakwa, the Minister of Foreign Affairs, at the event, said this year’s theme reflected the Commonwealth’s core mission of promoting democracy, fostering inclusivity, and working together for peace and prosperity.

He emphasized that Commonwealth Day was more than just a symbolic observance; it was a day to reflect on the progress made as a collective and to renew their dedication to fostering peace, democracy, and sustainable development across the diverse member states.

Dr. Omane Boamah noted that this year’s commemoration was particularly special for the entire Commonwealth fraternity, as it also marked the 60th anniversary of the establishment of the Commonwealth Secretariat, the main intergovernmental agency of the Commonwealth responsible for facilitating consultations and cooperation among member countries.

“For us in Ghana, this anniversary is significant as we celebrate with pride the assumption of duty in April 2025 of our immediate past Minister for Foreign Affairs, the Honourable Shirley Ayorkor Botchwey, as the 7th Secretary-General of the Commonwealth,” he said.

“Her election also made her the first African woman and the first Ghanaian to occupy this prestigious position—a major milestone for Ghana’s diplomacy, international standing, and legacy.”

Dr. Omane Boamah stated that the Government of Ghana had full confidence in her ability to deliver on her mandate. He, therefore, took the opportunity to call on all Commonwealth Member States and stakeholders to support her in achieving her vision of ushering the organization into a new era of progress and prosperity.

The Minister also highlighted Ghana’s democratic journey, particularly the peaceful transition of power following the December 2024 general election, which saw President John Dramani Mahama elected to office and the historic election of Ghana’s first female Vice President, Professor Naana Jane Opoku-Agyemang.

He described this as a groundbreaking achievement for gender representation in Ghanaian politics and an inspiration for women and girls across Africa.

He expressed gratitude to the Commonwealth Secretariat and Member States for their support in strengthening Ghana’s democratic processes, particularly through election observation and technical assistance.

Madam Harriet Thompson, the British High Commissioner in Accra, who delivered King Charles’ message, said the Commonwealth family was strongest when connected through friendship.

She noted that Commonwealth leaders came together in Samoa in October 2024 to reaffirm their “belief in the value of the Commonwealth as a trusted forum where diverse voices of Member States, large or small, young or old, come together as one family.”

Mr. John Apea, the Head of Mission for the Commonwealth Enterprise and Investment Council-Ghana, delivered a remark on behalf of Madam Patricia Scotland, the Commonwealth Secretary-General.

He highlighted key issues, including Commonwealth solidarity, shared ideals, and resilience in the face of international challenges.

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Defence minister, Dr. Edward Omane Boamah

Defence minister, Dr. Edward Omane Boamah, has stated that Ghana’s economic condition does not reflect an economy that has “turned the corner,” but rather one in severe distress, weighed down by debt repayment burdens, mismanagement, and a lack of accountability.

Speaking on the state of the economy in a Facebook post after Finance Minister Dr Casiel Ato Forson presented his maiden budget to Parliament, Dr. Boamah emphasized that the 2025 budget aims to set Ghana on a path of fiscal responsibility, debt sustainability, macroeconomic stability, and job creation.

He noted that the government, under President John Dramani Mahama, is focused on resetting the economy and restoring hope for Ghanaians.

Dr. Boamah criticized the previous New Patriotic Party (NPP) administration, accusing them of awarding contracts outside the expenditure framework and borrowing beyond Ghana’s capacity to repay.

He assured Ghanaians that President Mahama’s administration would exercise fiscal discipline while delivering efficient public services.

He reaffirmed the government’s commitment to meeting the International Monetary Fund (IMF) programme targets while restoring Ghana’s creditworthiness.

He also acknowledged the progress made so far, stating that while a lot has been achieved within a short time, this is only the beginning of the administration’s reform efforts.

Dr. Boamah highlighted several key promises that the Mahama administration has fulfilled since assuming office:

Reduced Government Size: A commitment to running a lean and efficient government with 60 ministers has been delivered. Tax Reforms: The government has scrapped the E-Levy and the betting tax on winnings.

Education Reforms: Academic fees for first-year public tertiary students have been eliminated, and free tertiary education has been introduced for Persons with Disabilities (PWDs). A dedicated source of funding has also been secured for Free SHS, while free textbooks are being distributed to schoolchildren.

Healthcare Initiatives: The administration is delivering Free Primary Healthcare and implementing the MahamaCares programme to finance the treatment of non-communicable diseases.

Social Interventions: The government has commenced the distribution of sanitary pads to schoolgirls and uncapped the GETFund, NHIL, and Road Fund.

Policy and Infrastructure Development: The $10 billion Big Push Programme for accelerated infrastructure development is underway, along with constitutional review processes and national forums on education and the economy.

Anti-Corruption Efforts: The government has launched Operation Recover All Looted State Funds, reaffirming its commitment to accountability.

Dr. Boamah reiterated that the government is determined to navigate Ghana through these turbulent times and emerge stronger.

He urged Ghanaians to support the administration’s reform agenda, emphasizing that the people of Ghana “will no longer tolerate ineffective governance.”

“We committed to Reset Ghana, and we are delivering,” he concluded.

Meanwhile, watch this Ghana Month special edition of People and Places as we hear the story of how the head of Kwame Nkrumah’s bronze statue was returned after 43 years, below:

An annual injection designed to guard against Human Immunodeficiency Virus (HIV) has completed an important early safety trial, researchers report in The Lancet medical journal.

Lenacapavir stops the virus from replicating inside cells.

If future trials go well – now it has passed the first, Phase I, testing hurdle – it could become the longest-acting form of HIV prevention available.

Currently, people can take daily pills or sometimes have injections every eight weeks, for pre-exposure prophylaxis (PrEP), to reduce their risk.

PrEP tablets are highly effective but taking them every day can be difficult.

About 39.9 million people are living with HIV, 65% of them in the World Health Organization African Region, according to the most recent figures, for 2023.

And the WHO, Global Fund and Joint United Nations Programme on HIV and Aids (UNAids) are all working on strategies to end the HIV epidemic by 2030, which include improving access to medicines such as PrEP.

Yearly dosing

For the trial, 40 people without HIV were injected into the muscle with lenacapavir, with no major side effects or safety concerns.

And after 56 weeks, the medicine was still detectable in their bodies.

Future trials must include more diverse participants, the researchers told the 2025 Conference on Retroviruses and Opportunistic Infections.

But they added: “Yearly dosing of lenacapavir has the potential to further decrease current barriers to PrEP by increasing the uptake of, persistence on, and, therefore, scalability of PrEP.”

‘Creating inequalities’

Richard Angell, from the Terrence Higgins Trust HIV charity, said: “PrEP as a daily pill has been a game-changer in our HIV response.

“The prospect of ‘safe’ annual injectable PrEP is as exciting as it is transformational.

“It’s great to see these early results that suggest injectable PrEP might be effective for up to 12 months.

“We need to get ready for its rollout now and fund sexual-health clinics to do so.”

Access to PrEP had been variable, Mr Angell said, creating inequalities.

“The oral pill is still not available in prisons, online or in community pharmacy,” he said.

“The Scottish Medicines Consortium has finally approved two-monthly PrEP injections for use in Scotland – but we are waiting for NICE [National Institute for Health and Care Excellence] approval for use in England.”

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Liverpool are out of the Champions League after Paris Saint-Germain made history to knock them out on penalties at Anfield.

PSG were aiming to become the first team ever to knock Liverpool out of a European tie after the Reds had won the first leg away from home and achieved the feat from the spot after Darwin Nunez and Curtis Jones saw penalties saved by Gianluigi Donnarumma.

The French champions were coming into it with a 1-0 deficit from the game in Paris last week but Ousmane Dembele levelled it up early in the game from close range and, improbably, it finished 1-1 on aggregate with neither side able to find the net again.

Arne Slot’s side could count themselves unfortunate not to score, Mohamed Salah missing two presentable opportunities before Dembele’s goal and Dominik Szoboszlai having a goal disallowed for offside. Jarell Quansah came closest, his header coming back off the inside of the post.

But PSG were worthy of their win over the two legs and will now play the winner of Aston Villa and Club Brugge in the last eight.

Slot’s job is to pick up his players for the Carabao Cup final on Sunday, Nunez and Jones included, while Trent Alexander-Arnold and Ibrahima Konate went off injured. The Premier League title awaits but Liverpool’s European dream is over for this season.

Slot: Best game ever involved in

Liverpool head coach Arne Slot speaking in the press conference:

“It was the best game of football I was ever involved in. I don’t have the history of Liverpool as a manager. Two teams at an incredible level.

“This was unbelievable what we showed in the first 25 minutes. Over 90 minutes I do not think we deserved to lose this game of football today. Over 180 minutes I think maybe it was deserved we went to overtime. In overtime, PSG were a bit better than us.

“Of course, it is a shock. Maybe it is not the moment to tell them now but last season we were not involved in the Champions League. If you have to go out, then go out how we did against one of the best teams in Europe and making a fight of it.”

Van Dijk: It was there for Liverpool

Liverpool captain Virgil van Dijk speaking to Amazon Prime Video:

“It was a very intense, great game of football to be part of. It was totally there for Liverpool, with what we showed in Paris. In Paris, we struggled but we won. Today, we saw a very good Liverpool side, but we are out of the competition.”

Unfinished business for Liverpool?

There will be huge frustration in Liverpool because going into this game it all seemed ahead of them. With the hard work seemingly having been done in Paris, they were well placed for a likely tie with Aston Villa for which they would have been heavy favourites.

As Luis Enrique, the PSG coach, had put it beforehand, ‘Whoever wins will go through to the final, I have no doubt.’ Whether he is right or not, it will not now be Liverpool. With the title all but secure, the Carabao Cup final suddenly becomes their biggest game left.

They will surely do so without Trent Alexander-Arnold even if Slot played down the apparent injury to Ibrahima Konate. But how will Darwin Nunez be feeling after this unfortunate cameo, Curtis Jones too? The challenge will be to refocus minds.

Perspective is required too. The prize of the Premier League title, never won in front of fans, is massive for Liverpool – and more than they could have hoped for in August. It is just that topping the league phase of the Champions League promised even more…

Luis Enrique: Both teams deserved to go through

Paris Saint-Germain head coach Luis Enrique speaking to Amazon Prime Video:

“It does not matter if we deserve the win. Both teams deserved to go through. We were better in Paris and they were better here. My team showed great personality and character at Anfield. The atmosphere was great and it was tough.

“When the draw came out as Liverpool against Paris, both managers thought the same: one of the best games you can watch in Europe. The Champions League has nothing to do with consistency. You have to be great in moments. We suffered a lot. They suffered a lot.”

Player of the match: Gianluigi Donnarumma

Football is a strange game. Alisson wins player of the match in Paris but six days later, and it is his opposite number Donnarumma who walks away with the prize in Liverpool, his two penalty saves having taken PSG into the quarter-finals of the competition.

Donnarumma pushed a few shots away from danger over the 120 minutes but his clean sheet owed much to the defensive work of those in front of him – not least Nuno Mendes, who – again – marshalled Salah better than anyone has in the Premier League.

Nunez telegraphed his penalty a little but it was firmly struck and required an impressive stop from the Italian goalkeeper. His stop to keep out Jones’ effort going in the other direction all but sealed Liverpool’s fate. Another game for the goalkeepers.

play videoOne of the interviewees speaking on GhanaWeb TV’s Trending GH

As the Minister of Finance, Dr. Cassiel Ato Forson, presents the 2025 budget in Parliament on Tuesday, March 11, 2025, some Ghanaians have shared their expectations with GhanaWeb’s Ernestina Serwaa Asante, on Trending GH.

Some interviewees expressed hope that the NDC government would scrap the Electronic Transfer Levy (E-Levy), COVID Levy, betting taxes, and others, as promised during the campaign period in 2024.

Speaking on GhanaWeb TV’s Trending GH, one interviewee stated, “The government promised to scrap the E-Levy and other taxes, and we eagerly await this move to finally heave a sigh of relief.

“Reducing fuel prices is crucial to stabilising the cost of goods, which would bring much-needed financial ease to everyone.”

Another Ghanaian said she looks forward to a reduction in the prices of goods, as traders continue to raise prices daily, even for old stock.

She suggested that the government engages GUTA in discussions to ensure fair pricing.

Drivers who spoke to GhanaWeb TV lamented the hike in fuel prices and spare parts.

These drivers called for a reduction in fuel prices, explaining that stabilising transport fares without any increment is critical to sustaining their businesses.

Watch the full Trending GH video on what some Ghanaians have been saying regarding their expectations ahead of 2025 budget presentation below:

SA/AE

To promote inclusivity and self-expression, Foto4Change has successfully donated professional photography equipment and provided hands-on training in visual storytelling to students of Deaf Zimbabwe Trust College.

This initiative aims to empower the Deaf and Hard of Hearing (DHH) community by equipping them with storytelling skills to amplify their voices and experiences through powerful imagery.

During the training session, students enthusiastically engaged in learning the fundamentals of visual storytelling, including composition, lighting, and framing compelling narratives.

The interactive workshops allowed them to explore creative perspectives and express themselves through images, fostering confidence and self-reliance.

Speaking at the handing-over ceremony, the Executive Director of Deaf Zimbabwe Trust Md Babra Nyangairi expressed deep gratitude to Foto4Change for their unique support.

“This donation and training are truly transformative for our students. Visual storytelling is a universal language, and with these tools, our students can share their experiences with the world.

“We are committed to making the most of this opportunity by forming a visual storytelling club that will nurture talent and encourage students to consider storytelling as a viable career path,” she said.

The Team Lead of Foto4Change, Geoffrey Buta, shared the motivation behind the initiative, stating, “This donation came after reading about the incredible work Deaf Zimbabwe Trust is doing to change the lives of Deaf children in this area. Their dedication to advocacy, education, and inclusivity inspired us to contribute in a way that aligns with our mission empowering marginalised communities through storytelling.

“We believe that everyone, regardless of their abilities, has a story worth telling, and visual storytelling provides a powerful medium to do just that.”

Buta emphasised that visual storytelling is more than just capturing images, it is a tool for advocacy, self-expression, and career development.

“Through this initiative, we are not only giving cameras; we are giving these students a voice, a chance to document their realities, and an opportunity to explore professional pathways in storytelling. This program has already transformed lives in three Deaf schools in Ghana, and we are excited to see its impact here in Zimbabwe,” he added.

By scaling Up the impact, we are happy to officially launch Foto4Change in Zimbabwe, which we believe will open doors for an expanded impact across the country, he said.

He also, highlighted the significance of this milestone, stating, that it is just the beginning where we want to scale up this project to support many more Deaf students, enabling them to tell their own stories to be heard, and actively engage in public dialogue.

“For too long, they have been left behind in conversations about development and change. Through this initiative, we aim to change that narrative,” said the Team Lead of Foto4change.

Buta said, by expanding the project, Foto4Change seeks to create more opportunities for Deaf students to develop skills in visual storytelling, filmmaking, and digital media, allowing them to contribute to national and global conversations on social transformation.

Impact and Future Prospects

The introduction of visual storytelling training at Deaf Zimbabwe Trust College is expected to have a lasting impact on the students and the broader DHH community. By forming a storytelling club, the school aims to provide continuous skill development, allowing students to explore storytelling as a profession. The initiative also seeks to challenge stereotypes about the capabilities of the Deaf community and create new career pathways in media, arts, and communication.

Additionally, Foto4Change has pledged to maintain engagement with the school through mentorship programs, advanced training sessions, and possible exhibition opportunities to showcase the students’ work. This initiative marks a significant step toward fostering inclusivity and empowering the next generation of visual storytellers.

About Foto4Change

Foto4Change is a multimedia initiative dedicated to using photography, video, and immersive storytelling to drive social impact. Aligning with five Sustainable Development Goals (SDGs), it focuses on advocacy, education, and innovation, amplifying voices from marginalized communities through visual storytelling.

GraphicOnline

Business News

Mar – 11 – 2025 , 18:19

In a bid to ease economic hardship, the government of Ghana has announced the removal of several taxes introduced during the COVID-19 era to secure International Monetary Fund (IMF) financing.

The decision, outlined in the 2025 budget, aims to provide financial relief to citizens and businesses struggling with rising inflation and currency depreciation.

Finance Minister Cassiel Ato Forson, presenting the budget on Tuesday, stated that five levies labeled as “nuisance taxes” include a one-percent levy on mobile money transactions and a value-added tax (VAT) on motor vehicle insurance.

With Ghana’s economy facing severe financial distress due to debt mismanagement and fiscal shortfalls, the removal of these taxes has raised concerns about how the government will compensate for the resulting revenue loss.

However, Forson assured lawmakers in Accra that alternative strategies are being developed to enhance tax collection without increasing the fiscal burden on citizens.

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“The removal of these taxes will reduce pressure on households, boost disposable income, and promote business expansion,” Forson stated.

Other levies being abolished include a 10-percent tax on lottery winnings, an emissions levy on vehicles and industries, and a 1.5-percent tax on unprocessed gold from small-scale miners.

These taxes were originally introduced by the previous administration as part of Ghana’s $3-billion IMF bailout, secured in 2023.

Economic recovery plans

Despite the tax cuts, the government has outlined measures to strengthen revenue collection. Amendments to the Revenue Administration Act are expected to generate additional revenue, amounting to 0.3 percent of GDP.

Additionally, the government is set to reinstate road tolls this year as part of an infrastructure development initiative, the “Big Push.”

“We inherited an economy in crisis, weighed down by excessive debt and fiscal challenges, including unpaid arrears and financing gaps in the energy and cocoa sectors,” Forson noted.

Economists have welcomed the removal of the levies, arguing that they will provide much-needed relief for citizens and businesses.

“The scrapping of these nuisance taxes will allow people to retain more of their income, helping businesses recover,” economist Daniel Amateye Anim-Prempeh told AFP. However, he cautioned that the effectiveness of these measures depends on the government’s ability to improve tax compliance without widening the fiscal deficit.

As part of broader economic reforms, the government is also establishing the Ghana Gold Board to regulate and oversee the gold sector. The initiative aims to increase foreign exchange reserves and curb illegal mining which has surged due to high gold prices and caused environmental destruction.

Source: Africafeeds.com