President John Dramani Mahama has assured the business community that his administration is committed to easing the cost of doing business through bold reforms aimed at stabilizing the economy and fostering private sector growth.
Speaking at a Presidential Media Encounter in Accra, the President highlighted the scrapping of nuisance taxes and the stabilization of the exchange rate as major interventions that are already yielding relief for businesses across the country.
“We scrapped nuisance taxes and lowered the exchange rate to ease the burden of doing business,” Mahama said, stressing that the move is part of a deliberate effort to restore business confidence and remove barriers to growth.
The President explained that many of the levies classified as “nuisance taxes” had long been criticized by industry players for inflating production costs and weakening competitiveness. By eliminating these taxes, government intends to provide breathing space for enterprises, particularly small and medium-scale businesses that form the backbone of Ghana’s economy.
On the exchange rate, Mahama noted that government interventions have helped stabilize the cedi against major trading currencies, ensuring predictability for importers and exporters alike. This, he said, is vital for planning, investment, and protecting jobs in the private sector.
Beyond these fiscal measures, the President linked his reforms to the broader 24-hour economy agenda, under which key institutions such as the Ghana Publishing Company, Passport Office, and major ports have already transitioned to round-the-clock operations.
According to him, this vision, backed by amendments to the GIPC and Labour Acts, is designed to increase productivity, attract new investment, and expand employment opportunities.
He further pointed to complementary initiatives such as the National Apprenticeship Program, the One Million Coders Project, and the formalization of the gold trade as part of a comprehensive plan to strengthen the business environment while equipping young people with critical skills.
Industry watchers say while the scrapping of taxes and stabilization of the exchange rate mark significant progress, sustained discipline in fiscal management and long-term structural reforms will be necessary to maintain business confidence.
President Mahama, however, insisted that his administration is determined to deliver. “Our goal is to create a friendlier business climate that lowers costs, attracts investment, and supports Ghanaian entrepreneurs to thrive at home and abroad,” he added.
