New man at helm of Ghana
GHANA’S new President Nana Akufo-Addo pledged to cut taxes to boost the economy at his swearing-in ceremony on Saturday, while also promising to protect the public purse by getting value for money on services.
Akufo-Addo, 72, defeated incumbent John Dramani Mahama in peaceful elections a month ago, a rare peaceful transfer of power in a region plagued by political crises. The major cocoa and gold exporter is halfway through a three-year aid programme with the International Monetary Fund to fix an economy dogged by high public debt and inflation.
It is not clear how the new president will be able to cut taxes and still stick to an IMF austerity plan that was a condition of a $91million (about R1.25-billion) bailout.
“We will reduce taxes to recover the momentum of our economy,” said AkufoAddo. “Ghana is open for business again.”
Akufo-Addo suggested government money would be spent wisely.
“I shall protect the public purse by insisting on value for money,” he said.
“Public service is just that; service, and [is] not to be seen as an opportunity for making money.”
Ghana expects growth will return to above 8% this year as new oil and gas fields from Tullow and ENI come on tap.
The ceremony was attended by dozens of dignitaries, including Chadian President Idris Deby, President Ellen Johnson Sirleaf of Liberia and former UN chief
Ghanaians are proud of having a stable democracy and acutely aware that it is a rarity in a turbulent region.
Akufo-Addo’s New Patriotic Party also won a majority of 169 seats in Parliament while the former ruling National Democratic Congress now has 106 seats. — Reuters Kofi Annan.