GNCCI urges government to reconsider tax policies

Mr Clement Osei-Amoako, President of the Ghana National Chamber of Commerce and Industry (GNCCI) has called on the government to reconsider its tax policies and streamline the tax structure to support business development.

He said tax policies reforms would also ensure fairness and reasonableness to create a favourable business environment, thereby unlocking the true potential of the private sector and drive resilient economic growth and a prosperous Ghana.

Mr Osei-Amoako made the remarks during the 2023 Chamber Bazaar organised by the GNCCI, on the theme: “Harnessing Business Potentials through Trade Fair and Exhibition.”

The event provided an exceptional platform for businesses to showcase their products, services and innovative ideas to a diverse audience.

He said it was truly remarkable to witness the convergence of stakeholders from various sectors of the business landscape, including government representatives, industry experts, and business owners.

Mr Osei-Amoako said the “Chamber Bazaar” was yet another initiative by the GNCCI to support local businesses and contribute to the overall economic growth of the country.

“However, we cannot overlook the prevailing challenges that our Ghanaian economy faces today.

Factors such as escalating inflation, a weakened local currency, a high policy rate resulting in increased borrowing costs, unsustainable levels of debt, and stagnant economic growth have negatively affected the business environment,” he said.

He said as a result, many businesses were still grappling with the difficulties of maintaining profitability and competitiveness.

Mr Osei-Amoako urged stakeholders to celebrate in the spirit of innovation, creativity, and perseverance of the boundless talents and craftsmanship that flourished within the nation.

He said by doing so, “we can enhance our efficiency, reach new markets, and deliver value to our customers.”

He assured the business community of the Chamber’s firm resolve in promoting and protecting commercial and industrial interests in the country.

He encouraged non-members to register with the Chamber to start benefiting from the myriads of business opportunities and insight through the delivery of value-added products.

Mr Benjamin Assiam, Representative from the Ministry of Trade and Industry, said the bazaar would enhance and complement the Chamber’s efforts at bringing firms closer to market and buyers.

He said the event was evident in the drive to harness the benefits of the African Continental Free Trade Area arrangement.

He said the National Coordinating Office of AfCFTA under the Ministry was implementing a market access programme in collaboration with Ghana Export Promotion Authority (GEPA).

Mr Assiam said parallel to the mission, GEPA launched its export trade house in Kenya which would be receiving goods from Ghana.

He commended all the exhibitors, large and small businesses for their interest and commitment to display the wide array of products.