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2024 Budget will deal with issues of high taxes, rising cost of doing business – Ofori-Atta
The Finance Minister, Ken Ofori-Atta has disclosed that the 2024 budget will come out with programmes and initiatives that will deal with the high cost of doing business in the country.
He assured that the budget will also address concerns of “high and many taxes” affecting the private sector.
Mr. Ofori-Atta disclosed this on PM Express Business Edition with host George Wiafe on October 19, 2023.
“It’s very important that looking at where we are as country, everything must be done to support the private sector to help them play a critical role in the recovery of the economy”, he said.
“We have met all the interest groups from the private sector and their concerns will definitely be taken on board when it comes to the 2024 budget,” he promised.
Mr. Ofori-Atta also announced that the ministry has met all relevant stakeholders and unions.
“We have also met with Association of Ghana Industries, Ghana Chamber of Commerce and Industry, and the Ghana Union of Traders Association, and predominately issues about taxes have been their major priority and we have to deal with it”, he said.
He stated that there will be a Mutual Prosperity Dialogue engagement with the private sector before the budget presentation.
2024 Budget Presentation
In terms of Focus, the Finance Minister also disclosed that government will be looking at how to get the private sector back “into stable” position.
“This is because the government cannot do everything, so the private sector needs to be supported to help managers of the economy when it comes to job creation”, he added.
Ghana’s Financial Administration Act requires Parliament should by December 31 of each financial year should consider and approve the Annual Budget for the ensuing financial year.
However, based on this directive the 2024 Budget should then be presented before the end of November 2023. This will afford parliament enough time to scrutinize and deliberate on the budget, before the beginning of the New Year.
Finance Minister also disclosed that the 2024 Budget will be influenced by the Post COVID Programme for Economic Growht which is supported by the IMF in terms of intiatives aimed at supporting the recovery of the economy .
“This is because government cannot do everything, so the private sector needs to be supported to help managers of the economy, when it comes to job creation”, he added.
Ghana’s Financial Administration Act requires Parliament should by December 31 of each financial year should consider and approve the Annual Budget for the ensuing financial year.
However based on this directive the 2024 Budget should then be presented before the end of November 2023. This will afford parliament enough time to scrutinize and deliberate on the budget, before the beginning of the New Year.
Finance Minister also disclosed that the 2024 Budget will be influenced by Post COVID Programme for Economic Growht which is supported the IMF in terms of intiatives aimed at supporting in the recovery of the economy .
“We are targeting to present the Budget to parliament by November 15 2023” the Finance Minister disclosed
Expansion of the Economy
The Finance Minister also announced that the Government will also implement programmes that will help in the expansion of the economy and sustain the recent recovery.
The Finance Minister also disclosed that government is looking at growth hitting more than 2.5 percent by December 2023.
“The IMF expected Ghana to do averagely about 1.5 percent, but they have already indicated that they will be reviewing that projection going forward. We believe that we are going to do better when it comes to the expansion of the economy,” he said.
“We are committed to instituting programmes that will help sustain the numbers that we are witnessing when it comes to growth,” he added.
Mr. Ofori-Atta stated that the government will, in all this, not leave out jobs especially for the youth, as it will be rolling out some new programmes to help deal with issues of jobs for the youth in the country.
Source:Myjoyonline.com
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Communication Ministry To Train 3000 Girls This Year Under The Girls-In-ICT Initiative
The Ministry of Communication, Digital Technology and Innovations is set to train 3,000 girls under this year’s Girls-In-ICT Initiative.
The 2025 edition of the programme will expand its footprint to three key regions: Volta, Upper East and Upper West, with each region hosting 1,000 girls for in-person training sessions.
This marks a significant increase in reach and impact compared to previous years, where only 500 girls received face-to-face training while an additional 500 participated online.
By offering full in-person training to all participants this year, the Ministry aims to provide a more immersive and hands-on experience in Information and Communication Technology (ICT) education.
The Minister, Samuel Nartey George (MP) revealed this when a team from TATA Consultancy Services (TCS) paid a courtesy call on him today in his office and expressed interest in supporting the Girls-In-ICT Initiative.
During the meeting, the TCS team led by the President-MEA, Sumanta Roy commended the Ministry for its efforts in promoting digital inclusion and bridging the gender gap in technology through the Girls-In-ICT programme.
They emphasized the alignment of the initiative with TCS’s global corporate social responsibility agenda, which includes advancing education, promoting digital skills, and empowering underrepresented groups, especially young women in the tech industry.
The Honourable Minister welcomed the interest shown by TCS and noted that strategic partnerships like this are essential to the sustainability and expansion of the initiative.
The Girls-In-ICT Initiative, one of the Ministry’s flagship programs, seeks to equip young girls with practical digital skills and introduce them to the vast opportunities within the ICT sector.
The initiative also aims to address gender disparity in STEM fields and encourage greater female participation in Ghana’s digital economy.
Hon. Samuel Nartey George (MP) speaking about the 2025 rollout, stated: “This year’s program represents our commitment to building inclusive digital skills and creating future leaders in tech.
By expanding in-person sessions to all participants, we’re ensuring that every girl has the opportunity to learn, engage, and grow with hands-on support from professionals and mentors”.
Participants in this year’s training will receive instruction in coding, basic computer operations, cybersecurity and creative digital tools.
The programme also features mentorship sessions with women in tech, ICT competitions and career development workshops designed to build confidence and spark innovation among the girls.
According to the Minister, empowering girls today with ICT skills will transform communities and drive national development. The initiative is a key part of Ghana’s broader digital transformation agenda, which emphasizes equitable access to digital tools and education for all citizens.
About the Girls In ICT Initiative:
The Girls-in-ICT (GIICT) Initiative was introduced in Ghana in 2012. It is an initiative by the International Telecommunications Union to create a global environment that empowers and encourages girls and young women to consider studies and careers in the growing field of ICT.
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
