The National Democratic Congress (NDC) manifesto is set to relieve businesses from the unprecedented crisis they are facing and provide a congenial business atmosphere, restore investor confidence, and expand the indigenous entrepreneurial class by supporting Ghanaian-owned and led businesses for job creation.
This was revealed by Hajia Saajida Shiraz, spokesperson for the NDC’s policies on business development, during a press briefing on September 3, 2024, at the NDC National Headquarters, Adabraka.
Reiterating John Dramani Mahama’s commitments to the people, Hajia Saajida Shiraz, mentioned that the next NDC administration would ease the tax burden on businesses by scrapping the obnoxious Covid levy, E-levy, and emissions levy, among others.
The business development sector spokesperson, indicated that Ghanaian businesses have felt the impact of excessive taxation, steep exchange rate depreciation, high interest rates, import duties, and utility tariffs on livelihoods, businesses, and jobs. The NDC is set to relieve businesses from these hurdles.
She further highlighted measures that the next NDC administration will implement, including rationalizing import duties, providing tax incentives, financing support, security services, and cheaper and reliable power for businesses under the 24-Hour Economy.
Additionally, tax breaks and low-cost financing will be provided for strategic start-ups and Micro, Small, and Medium Enterprises (MSMEs).
New small businesses, will be exempt from paying corporate and personal income tax for the first two years after incorporation.
Hajia Saajida Shiraz, highlighted that the next NDC government will offer agro-production support services for MSMEs by linking them to Agro-Industrial Zones and enhance the role of EXIM Bank in financing non-traditional exports and international trade.
She indicated that the NDC government would implement a “Made-in-Ghana Agenda,” which will leverage government spending and encourage citizens to patronize made-in-Ghana products.
“We will also launch an “Export Ghana Policy” to expand access to markets for made-in-Ghana goods under the African Continental Free Trade Area Agreement (AfCFTA) regime and other external trade programmes”. She said, noting that through partnership and networking, they will enhance the competitiveness of made-in-Ghana products on the international market.
The ‘Adwumawura’ programme will be created to mentor a minimum of 10,000 businesses annually, with a special focus on young people.
Hajia Saajida Shiraz, also stated how the NDC, intends to bridge the barriers to entrepreneurship for Ghanaian women by establishing a Women’s Development Bank aimed at supporting women-owned businesses.
She said that the National Apprenticeship Programme, will provide free technical and vocational training for young people in various crafts, certify them, and support them with start-up capital and equipment to set up their own businesses.
To relieve the burden on businesses, the next NDC government, will review the Customs (Amendment) Act, 2020 (Act 1014), and scrap the law banning the importation of salvaged vehicles to prevent the collapse of local automotive industries at Suame Magazine, Kokompe, and Abossey Okai.
The NDC will further leverage green technologies for entrepreneurship by promoting the assembly and use of electric vehicles and clean energy for commercial and residential use.
The party will also reduce bureaucracies, promote transparency, simplify administrative and regulatory processes, and uphold the rule of law to create a friendly investment climate.
Hajia Saajida Shiraz, asserted that the NDC will revitalize Business Development Centres in all districts in Ghana to support local business development and growth, and promote capacity-building in entrepreneurship to enhance the management and profitability of businesses in Ghana.
She indicated that the NDC is committed to making businesses thrive in Ghana and urged the general public to support the vision of John Dramani Mahama.
