• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Ghana’s Akufo-Addo Sworn in, Pledges to Boost Private Sector

09/01/2017
Reading Time: 2 mins read
Ghana's President-elect and candidate of the opposition New Patriotic Party (NPP), Nana Akufo-Addo speaks during an interview at his residence in Accra, on December 10, 2016, a day after winning the national election, tapping into an electorate fed up with a sputtering economy and ready for change. / AFP / Pius Utomi Ekpei        (Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

Ghana's President-elect and candidate of the opposition New Patriotic Party (NPP), Nana Akufo-Addo speaks during an interview at his residence in Accra, on December 10, 2016, a day after winning the national election, tapping into an electorate fed up with a sputtering economy and ready for change. / AFP / Pius Utomi Ekpei (Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

Nana Akufo-Addo speaks at inauguration ceremony in Accra
New president wants to ‘provide direction’ to entrepreneurs

Nana Akufo-Addo was sworn in as Ghana’s president on Saturday, pledging to cut taxes and boost the private sector to accelerate growth in an economy that’s recording its slowest expansion in two decades.

“We believe that the business of government is to govern; ours is to set fair rules, and we will provide vision and direction and shine the light down the path of our entrepreneurs and farmers,” Akufo-Addo, 72, said during the ceremony in the capital, Accra. “We are counting on a vibrant private sector to drive growth and create jobs.”

An economist and former central bank governor, Mahamudu Bawumia, was sworn in as vice president. The ceremony was attended by West African heads of state including Nigerian President Muhammadu Buhari and Alassane Ouattara of Ivory Coast, Ghana’s neighbor.

The leader of the New Patriotic Party won last month’s election against incumbent John Mahama on campaign pledges to create jobs, encourage mining of bauxite and solve chronic energy shortages that have crippled small businesses for the past three years. The previous administration was forced to seek a $933 million emergency loan from the International Monetary Fund last year, blaming the downturn on low prices for Ghana’s main exports cocoa, gold and oil.

‘High Expectations’

“Expectations are really high, especially because the NPP’s policies are usually more business-friendly,” Godfred Bokpin, head of the finance department at the University of Ghana’s Business School, said in an interview Friday. “There’s very little fiscal space to finance development, but there should be a re-ignition of economic activity in the country.”

Akufo-Addo, who lost two previous elections with a small margin of votes, will face the task of reigniting growth while reining in inflation and consolidating public debt. After expanding at the fastest annual pace in Africa at 14 percent with the start of oil exports in 2011, Ghana’s economy was projected to slow to 3.3 percent growth last year.

“We will reduce taxes to recover the momentum of our economy,” he said. “It’s time to dream again, time to try that business idea again. Ghana is open for business again.”

Source: Bloomberg

Previous Post

Will Brexit Hurt—Or Help—Your M&A Plans?

Next Post

Experience alone is not enough

Related Posts

Innovation and Entrepreneurship

MY 3 months in Kumasi: What Ghana can teach the UK about Innovation & Entrepreneurship

07/03/2022
Keys to safer food, ghanatalksbusiness.com

Preparing for Christmas – It should be Fun not a Funeral in waiting

22/12/2021

E-Commerce as a solution to reduce high unemployment rate in Ghana

17/09/2021
Youth unemployment, ghanatalksbusiness.com

Youth Unemployment: Is Ghana In Crises?

16/09/2021
weekend destinations in Ghana

Top 5 weekend destinations in Ghana for great family bonding

06/08/2021
Kwame despite

From a Cassette Seller to a Media Mogul: The Success Story of Kwame Despite

30/10/2020
Next Post

Experience alone is not enough

Reflection: Always count your blessings.

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In