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The 2016 presidential candidate of the New Patriotic Party, Nana Addo Dankwa Akufo-Addo, has outlined comprehensive policy measures aimed at strengthening the prospects of accelerated enterprise development in a competitive environment and stimulating the rapid growth and expansion of the Ghanaian economy, so that the all-important issue of job creation can be successfully addressed. 

According to World Bank statistics, about 48% of Ghanaians between the ages of 15 and 24 are unemployed, whilst over 18% of those aged between 25 and 64 years are inactive or unemployed and actively looking for job.

This unprecedented high level of unemployment, in the view of the NPP flagbearer, is “the greatest challenge confronting our nation, particularly amongst the youth”, and addressing this matter, he added, is the only way by which we “can then guarantee the peace and stability of our nation.”

Nana Akufo-Addo made this known on Thursday, September 8, 2016, when he addressed the 57th Annual General Meeting of the Ghana Employers’ Association, at the Accra International Conference Centre, on enterprise growth and job creation.

The NPP, according to Nana Akufo-Addo, believes that the only sustainable way of addressing this challenge of high unemployment is by expanding the productive base of the Ghanaian economy and enhancing enterprise growth.

To this end, he told the GEA that his government will focus on four key priority areas, which are “building a strong, resilient economy by restoring macroeconomic stability and ensuring fiscal discipline; revitalising the Industrial sector; revitalising the agricultural sector; and implementing an aggressive, targeted infrastructural development programme.”

Reduction/Abolishing of taxes

With the NPP’s economic policy, under an Akufo-Addo government, moving away from taxation to production, he stated that his government will remove import duties on raw materials and machinery for production within the context of the ECOWAS Common External Tariff (CET) Protocol.

Additionally, he noted that “eliminating the Special Import Levy; abolishing the 17.5% VAT on imported medicines not produced in Ghana; abolishing the 17.5% VAT on Financial Services; abolishing the 17.5% VAT on Real Estate sales; abolishing the 17.5% VAT on domestic airline tickets; and reducing VAT for micro and small enterprises from the current 17.5% to the 3% Flat Rate VAT introduced by the NPP” will be done to boost business activity in the country.