By Kizito CUDJOE
As the December 7 general elections approach, the flagbearer of the New Patriotic Party (NPP) and Vice President, Dr. Mahamudu Bawumia, has intensified his campaign in the Greater Accra region, touring some key constituencies including Okaikoi North, South and Central as well as others in Tema, to interact and further outline his vision for the country.
His message, focused on tax reliefs, a simplified flat tax regime, and improved power supply, resonates with key voting blocs, especially small business owners and women-led enterprises, in the bustling metropolis.
Key points of his campaign include:
- Tax Reliefs: Proposing tax reliefs to ease the financial burden on citizens and businesses.
- Flat Tax Regime: Introducing a flat tax regime to simplify the tax system.
- Improved Power Supply: Committing to enhance the power supply infrastructure with the immediate provision of 2000 megawatts of solar power to ensure reliable electricity.
- Fund for SMEs and Women-Led Businesses: Establishing a dedicated fund to support small and medium-sized enterprises (SMEs) and businesses led by women.
Dr. Bawumia has been engaging with a diverse mix of electorates, including traders, business operators, opinion leaders, religious leaders, and the general populace.
Women’s trade empowerment fund, tax reliefs
The flag bearer and Vice President of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has promised to promote economic empowerment of women traders and ease the tax burden on businesses, as the party prepares for the upcoming elections.
During a rally at the Kaneshie Market in the Okaikoi South Constituency, a key stop on his Greater Accra regional campaign tour, Dr. Bawumia announced plans to establish a Women’s Trade Empowerment Fund.
This initiative, he explained, will channel funds to microfinance and savings and loans institutions, which will then be distributed to women traders across the country.
The fund, among others aims to deepen access to credit, a critical issue for small businesses, particularly those led by women, which underlines Dr. Bawumia’s commitment to addressing financial inclusion and supporting the economic backbone of Ghana—its traders.
“This fund will ensure that women traders, who form the majority of our market women, have easier access to the capital they need to grow their businesses,” Dr. Bawumia told the enthusiastic crowd of party supporters and market traders.
He emphasized that this move is part of a broader strategy to empower women economically, thereby driving national development.
In his appeal to both traders and consumers, Dr. Bawumia also outlined his vision for a more favorable tax regime. Central to this plan is the removal of import duties on mobile phones—a significant cost for many small businesses that rely on mobile technology for their operations.
By eliminating these duties, Dr. Bawumia envisaged that it will contribute to reduce the cost of mobile phones, making them more affordable and accessible, and ultimately boosting business efficiency and connectivity.
Some party officials, who are part of the campaign delegation, noted that these proposals are indicative of Dr. Bawumia’s focus on pragmatic economic policies designed to stimulate small and medium enterprises (SMEs) and enhance the livelihoods of everyday Ghanaians.
“His promises of financial inclusion for women traders and tax relief for businesses reflect a broader political economy strategy centered on leveraging economic tools to drive growth,” they said.
Also speaking at the rally, the Member of Parliament for Okaikoi South Constituency, and the Minister of Gender, Children and Social Protection, Dakoa Newman, also entreated traders to endeavor to turn up in their numbers to for the party in the 2024 general elections.
Institutionalizing ‘Buy Ghana First Policy’ to boost local economy
The flagbearer of the ruling New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has announced plans to institutionalize a ‘Buy Ghana First Policy’ aimed at promoting the use of locally produced goods and services in government offices and departments, should he win the December 2024 elections.
During his tour a campaign tour of in some parts of the Greater Accra region, Dr. Bawumia emphasized the economic potential of the policy, describing it as a critical step toward enhancing the country’s industrial base and reducing the country’s dependence on imported goods.
He argued that the initiative would create a ripple effect, benefiting local manufacturers, farmers, and service providers across various sectors.
He noted that by prioritizing made-in-Ghana goods and services, “We will not only support local businesses but also create jobs and retain wealth within the economy.”
“The government should lead by example, and this policy will ensure that our institutions are the first to buy Ghanaian.”
The policy, he said, would mandate all government agencies to give preference to local products, ranging from office supplies to construction materials, provided they meet quality standards.
Economic rationale
With Ghana facing a significant trade deficit and a reliance on imports for essential goods, Dr. Bawumia’s proposal seeks to reverse the trend by stimulating domestic production. According to recent government data, Ghana imported goods worth approximately US$13 billion in 2023, a figure that local economists say contributes to currency depreciation and drains foreign reserves.
Potential impact on key sectors
The agricultural and manufacturing sectors are expected to be among the primary beneficiaries of the policy. Local farmers could see increased demand for their produce, while manufacturers may gain new opportunities to supply the government contracts for goods such as furniture, textiles, and foodstuffs.
Political context
The ‘Buy Ghana First Policy’ aligns with the NPP’s broader economic strategy, which has focused on industrialization and job creation through initiatives like the One District, One Factory (1D1F) program.
Dr. Bawumia vows constitutional amendments to empower chiefs, and support religious institutions
On the campaign, the New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia, continued to outline his vision for governance that reflects the critical role of traditional and religious institutions in the country’s development.
He assured that when elected into power, he will pursue constitutional amendments, and tax reforms that would further strengthen the chieftaincy institution and recognize religious bodies as key development agents.
In recognition of the influence and authority wielded by chiefs and queen mothers across the country, he promised the amendment of Section 63 of the Constitution. The constitutional reform, he noted, would deepen the formal role of traditional leaders in governance and development.
He emphasized that these changes are crucial to preserving the relevance of the chieftaincy institution in modern Ghana, ensuring that chiefs and queen mothers have a direct hand in shaping the country’s socio-economic growth.
Beyond constitutional amendments, he also proposed financial support for traditional authorities. He pledged to introduce a ‘living allowance’ scheme for chiefs, from paramount to divisional positions, as well as for queen mothers.
This move, he argues, would not only acknowledge the historical importance of traditional rulers but also equip them to continue contributing to local development initiatives more effectively.
Empowering religious institutions as development partners
Dr. Bawumia also turned his attention to religious organizations, promising to recognize them as official agents of development if elected.
The vice president highlighted the numerous social services provided by religious bodies, including the establishment of schools, hospitals, and other community-enhancing projects.
It is given thus, that he said under his leadership, he will reclassify these institutions in a way that would grant them tax exemptions on imports intended for social development programs.
The tax waivers, he noted, would provide religious institutions with the necessary financial flexibility to expand their impact. This initiative, according to Dr. Bawumia, aims to enhance the role of religious bodies in national development and reduce operational costs, allowing them to focus resources on critical areas such as healthcare, education, and poverty alleviation.
Kizito Cudjoe is Senior Business Journalist & Vice-Presidential Correspondent of B&FT
[email protected] / +233 268899614
