President Nana Addo Dankwa Akufo-Addo has said the limited success chalked by government hinges on its quest to facilitate the business of the private sector and fundamental issues of rule of law.
He said government business is to create the enabling environment for the private sector to do business.
President Akufo-Addo was speaking at a Presidential Investment Chats roundtable on “Concrete and Transformative Actions by Heads of State for a new Business Africa” at a two-day Africa Investment Forum (AIF), which took place at the Sandton Convention Centre in Johannesburg, South Africa.
AIF, conceptualized by the African Development Bank Group, is a joint effort of major development finance institutions, projects sponsors and other investors interested in accelerating Africa’s prosperity. Each will use tools at their disposal to de-risk investments at scale and follow through on transacts.
He said statistically, only 1.5 of Ghanaian working force paid taxes, which constitute only six percent of the population and government was working hard to capture more into the tax net.
On ‘Ghana beyond Aid’ policy, he said it was time to develop the country by its strength and resources, and policies are being made to stimulate growth that so that all sectors.
President Akufo-Addo said the “Planting for Food and Jobs strategy was touching the hearts of farmers in the production chain, which started with 200,000 smallholder farmers grossing 500,000 after a year of implementation but added the focus is to hit one million or more farmers by 2020.
He said the boldness with which the Special Prosecution Office’s was established was to send a strong message to his appointees and the entire Ghanaian population that there was need to change attitudes and the office would deal with all irrespective of political colour.
President Akufo-Addo said no appointee of his administration would be spared after conclusive investigations have been made.
Professor Yemi Osinbajo, the Vice President of Nigeria, said Nigeria is working hard to improve its score on the Ease of Doing Business Index, appearing in the first 100 places by 2020 and reduce that further in subsequent years.
He said a Presidential Enabling Council has been constituted to delve into reforms and the removal of bottlenecks that affect business and investments.
Mr Alpha Conde, Guinean President, said renewed efforts by his government has led to the establishment of Ministry of Investment and the adoption of key reforms to regulate the mining sector and change the attitudes for better.
President Cyril Ramaphosa of South Africa urged governments of Africa to stop perceiving business and the private sector as enemies but forge a strong collaboration to ensure the development that the youth are yearning.
He said the AIF offers the blueprint to stimulate the development potential of Africa and the zeal is unmeasured.
President Ramaphosa expressed optimism that trade deficits would be attained by combined forces from the continent and development partners and the change to achieve that was now.