Ghanaian businesses have called for significant tax reforms, arguing that current tax burdens stifle growth and job creation. This appeal came from Abraham Siaw, General Manager of Skynet, during the 2026 Ghana Business League Awards.
Mr. Siaw highlighted that while Ghana's overall economic situation has improved, high taxes remain a major challenge. Businesses struggle to expand their operations and create new jobs under the current tax regime. He believes a review of taxes will allow companies to invest more and employ more people.
This push for tax reform aligns with ongoing discussions about fostering private sector growth, a key driver of Ghana's economic development. The government's efforts to stabilize the economy have been noted, but businesses report that operational costs remain high due to taxation. Data from the Ghana Statistical Service consistently highlights the private sector's role in employment and GDP contribution. In 2025, the Bank of Ghana reported improved liquidity in the banking sector, suggesting potential for increased lending to businesses if other hurdles like high taxes are addressed.
Abraham Siaw stated, "Government has done well in stabilising the economy, but businesses are still grappling with taxes that increase the cost of operations. We believe this is the right time for authorities to review some of these taxes to help businesses grow." He added that a friendlier tax system would benefit the entire economy by encouraging investment and innovation.
A more competitive tax environment could lead to increased foreign and local private sector investment. Policymakers will likely face continued pressure to balance government revenue needs with business growth incentives. Future policy debates will center on which taxes to adjust and the potential impact on public finances and economic competitiveness. Businesses will watch for concrete steps from the government in response to these appeals.
Seth Joojo Asante, CEO of Mavins Communication, also commented on the awards event. He described the Ghana Business League Awards as an important platform. These awards celebrate excellence and motivate businesses to achieve higher standards, he said. They also help build confidence within the business community.
The 2026 Ghana Business League Awards recognized outstanding organizations and individuals. The event encouraged businesses to adopt best practices for sustainable growth. Business leaders, entrepreneurs, and policymakers attended the event.