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12 Statements Akufo-Addo Made At Meeting With France’s Emmanuel Macron

President Nana Addo Dankwa Akufo-Addo’s remarks at a meeting with French President Emmanuel Macron have left many praising him.

Find below 12 of the statements he made at last Thursday’s meeting.

1. “We can no longer continue to make policies for ourselves in our country, our region or our continent on the basis of whatever support the Western world, or France or the European Union can give us, it will not work”

2. “It is not right for a country like Ghana, 60 years after independence to still have its health and education budget being financed on the basis of the generosity and charity of European tax payers.”

3. “By now we should be able to finance our basic needs ourselves”

4. “The African continent should be giving money to other places.”

5. “We need to have a mindset that says, we can do it because others have done it”

6. “Our perspective is not to be what the French tax payer decides to do with whatever services they have in France.”

7. “This continent with all that has happened is still today the repository of at least 30% of the most important minerals in the world”

8. “Africa is a continent of vast fertile land with the youngest population with energy and dynamism.”

9. “We want young Africans to stay in Africa.”

10. “We have to get away from this mindset of dependence, this mindset about ‘what can France do for us?”

11. “We should be concerned with what we need to do in this 21st century to move Africa ahead from being cup in hand and begging for aid, charity and hand-outs.”

12. “We want to build a Ghana beyond aid, a Ghana which is independent, which is self sufficient and is capable of standing on its own feet and building its own life, we can do it if we have the correct mindset to do so”

We’ll Stop Dumping Of Poor Quality And Cheap Goods Into Ghana – President

Government has assured the business community in Ghana, especially expatriates, that it is taking steps to deal with the incidence of unfair trade practices that affect their investments.

To address, among other challenges, the dumping of poor quality and cheap goods into Ghana, often without the payment of the required duties and taxes, President Nana Addo Dankwa Akufo-Addo has announced the formation of the Ghana International Trade Commission.

Announcing the appointment of a five-member governing board for the commission in Accra on Monday, the President said “the board would work to ensure, amongst other things, that the country institutes strong countervailing and anti-dumping measures to protect your investments.”

The President, who was addressing guests at the maiden Ghana Expatriate Business Awards event, urged the commission to work with other state actors to ensure a level playing field for businesses.

“It is vital that the commission acts with the necessary purpose and vigour, and that it liaises closely with the Ghana Revenue Authority to ensure a level playing field for domestic business,” the President noted.

Touching on his government’s commitment to restoring economic stability, President Akufo-Addo recalled promises made before the 2016 elections, and said: “We promised to put in place policies and programmes that would help grow the Ghanaian economy, bring in its wake opportunities for the private sector to expand, and thereby help create the thousands of jobs needed by the teeming masses of Ghanaian youth.”

According to the President, an expanded economy would require the harnessing and promotion of the entrepreneurial abilities and talents of Ghanaians and other private sector operators.

The promises were made bearing in mind the many challenges that confronted the private sector at that time and were impacting negatively on the business environment and the competitiveness of the country’s enterprises.

Over the past 11 months, government, he indicated, had been working to restore the stability of the Ghanaian economy, without which private sector growth would be inhibited.

Economic achievements

With inflation (11.6%) and interests rates reduced, a largely stabilised currency, a significant reduction in fiscal deficit through the rationalisation of public sector expenditure and at the same time improving government revenue, government had also within the 11-month period controlled domestic borrowing, “so as not to crowd out the private sector from the financial market.”

Government’s external debt commitments had also been brought to sustainable limits.

Govt loses GH¢1 billion from tax cuts

The President revealed that tax cuts announced by government at the beginning of the year amounted to GH¢1 billion in forgone revenue to the state. In all, 10 different taxes were affected.

The private sector had been strengthened by shifting the focus of government’s economic policy from taxation to provision of incentives for production.

The reforms, President Akufo-Addo indicated, were designed “to make Ghana an investment destination of choice in Africa.”

Govt promotes digitisation of economy, businesses

Government is taking specific measures that would lead Ghana and the economy into the new digital age.

It is introducing an e-business registration system, has already introduced a paperless port clearance system, digital addressing system, mobile interoperability system and the national identification system, “all of which are designed to formalise the Ghanaian economy, reduce the cost of doing business and facilitate interaction between businesses and their clients, particularly the technologically driven era where connectivity through digital services is an important element in achieving competitiveness.”

GH¢5.3 billion outstanding energy sector debt to be settled Q1 2018

Bold steps had been taken by government to settle a substantial part (GH¢4.7 billion) of the GH¢10 billion energy sector debt inherited from the previous administration, the President said.

The move, he said, was expected to strengthen the liquidity of the banks, and free the energy sector for fresh investments, “to reduce the cost of energy.”

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