Mark Badu-Aboagye Urges President-elect Mahama to Prioritize Private Sector Support for Economic Growth

Mark Badu-Aboagye, the CEO of the Ghana National Chamber of Commerce and Industry (GNCCI), has called on the incoming administration of President-elect John Dramani Mahama to focus on strengthening the private sector as a means to drive economic growth and generate sustainable revenue for the government.

In an interview on Joy News’ PM Express, Business Edition, Badu-Aboagye highlighted the crucial role the private sector plays in supporting government finances. He stressed that no government can thrive without fostering a conducive environment for business growth.

“No government will survive without supporting the private sector,” he stated. He argued that rather than relying on tax hikes or introducing more taxes, the government should focus on creating conditions that enable businesses to thrive, which in turn would lead to increased tax revenues.

“If you need money, support the private sector; they will expand, and the taxes will come,” he said, emphasizing that a robust private sector is key to consistent revenue generation.

Badu-Aboagye’s remarks come amid ongoing discussions about the future of Ghana’s tax policies and the need to balance revenue generation with economic growth. His perspective offers a fresh approach to addressing the country’s fiscal challenges, suggesting that fostering business compliance and effectiveness may be more important than simply increasing tax rates.

“It’s not about the rate or the number of taxes; it’s about compliance and effectiveness,” he concluded, urging the new administration to prioritize policies that support private sector growth.