This government has clearly shown that it will help the private sector – Entrepreneur

As President Mahama approaches his 100 days in office, the Ghanaian business community appears to be highly expectant of the government’s ability to fix challenges facing their operations.

Speaking on Ghanakoma morning show on Akoma 87.9 FM in Kumasi with Sir John, the Chief Executive Officer of the Obibini Blackman Company Limited, Dr Thomas Kofi Dompem, expressed optimism in the administration after the government’s maiden budget announced the abolishment of nuisance taxes and in some areas tax cuts.

Before coming into office, some of the major issues the government was expected to address included unreliable power supply, high taxation regime, rising interest rates, and unstable currency as well as standard of living.

He commended the government for giving the private sector an indication that it will create a conducive environment for growth.

“We believe government has clearly showed that it will help the private sector to grow by announcing the tax cuts. It is something the private sector has been pushing for,” he stated on April 1.

Dr Dompem also lauded the government’s macroeconomic policies in the few months in office.

“For me, on the whole, the three months is still very short, but I believe the right steps are being put in place to ensure that in the long run we are able to get what we want for businesses to thrive and also move the economy forward,” he said.

The entrepreneur was hopeful that the trend will be sustained to guide further decision making by businesses.

“The Treasury Bill rate is also reducing. We are yet to see how the banks will bring down the interest rates, it’s still very expensive for everybody to go to the bank and borrow,” he said.

 

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