President Mahama urges Ghanaian businesses to prioritise tax compliance and succession planning
John Dramani Mahama urged Ghanaian businesses to openly demonstrate their commitment to tax compliance and stressed the importance of succession planning on Saturday, April 4, at the Kwahu Business Forum 2026. Addressing large business operators, President Mahama encouraged them to personally present their tax payments to the Ghana Revenue Authority (GRA), saying, "I encourage all of you, the big businesses, don't hide. Go and stand there with GRA and let them receive your cheque. Let's see that you are paying your taxes and that you are good corporate citizens."
President Mahama highlighted succession planning as critical in sustaining Ghanaian businesses, particularly in the informal sector. He recounted a story from his upbringing in Tamale about a Tuozafi (TZ) joint that continued successfully under the founder's daughter after the original owner passed, which he called "effective succession." He warned that the lack of structured succession planning contributes to a cycle of businesses rising and collapsing, hindering the development of sustained enterprises.
President Mahama emphasized that "Businesses rise and collapse, new ones come and collapse again. We need sustained businesses, and that requires planning beyond the founder's lifetime."
Quick Summary
President Mahama has called on Ghanaian businesses to focus on two key areas. He is encouraging more transparency and a long-term vision - but what could this mean for the future of Ghana's economy?
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