Government must provide incentives, tax rebates to avert exodus of businesses - General Mattheen

Ghanaian businessman and politician, Jinsah Abdul-Mattheen Sali, has endorsed the call by the flagbearer of the National Democratic Congress, John Dramani Mahama, for businesses not to move out of the country, appealing to the investor community to continue their operations in Ghana.

Speaking in an interview with GhanaWeb, Abdul-Mattheen noted that the Ghanaian business landscape has been severely affected by the decisions of the government.

General Mattheen, as he is known in political circles, expressed profound appreciation for the struggles facing businesses in their operations in the country.

He explained that as a businessman, his finances and projections have been heavily impacted by the economic turmoil being experienced in the country.

He mentioned the fluctuating rate of the Ghanaian currency, erratic power supply, and taxes as some of the disincentives killing business operations in the country.

General Mattheen noted that for businesses to thrive, the government must provide an enabling environment by getting a grip on the cedi and not overburdening corporations with hefty taxes.

He explained that a future government must institute home-grown measures that will strengthen the cedi and reduce the over-reliance on the dollar.

This, he said, could be achieved by providing support to companies and farmers to produce locally, thereby reducing the importation of goods.

"The call by John Mahama is a step in the right direction, and I pray and hope that businesses will listen to him. I'm a businessman, so I'm aware of all the issues going on, and I fully understand the decision taken by those companies to relocate to other countries.

"Import duties, taxes, and the cedi's performance are killing us. As a businessman, you cannot even plan because the rate is going up almost every other day. This government promised that they were going to localize the economy, but it has been a huge façade. The next government will have to tackle the cedi and reduce taxes to keep the businesses here," he said.

John Dramani Mahama has made a passionate appeal to businesses and the investor community in Ghana, urging them not to leave the country amidst the current economic challenges.

He urged them to stay a bit longer, as he assured them that the next NDC government will ensure that a conducive environment is created for businesses and investors to thrive.

The former president attributed poor governance and an unfavorable economic environment to the exit of multinational companies such as Unilever's tea production unit, Game, Glovo, and BIC, among others.

"But we cannot despair over the poor quality of governance that has served us in the last seven and a half years. I wish to use this opportunity to appeal to you, captains of industry and the investor community, to tarry a bit more," he appealed via X on May 27, 2024.

"Please don't leave our country. You can rest assured that a new NDC administration will work with you to create a conducive environment for businesses to thrive," John Mahama assured.

EK