John Mahama has promised to phase out the usage of cash to pay for all government services by 2028.
He says the move is part of his next government’s agenda to continue to digitalise “our revenue collection and payment systems.”
“By 2028, we aim to phase out cash as a form of payment for all government services,” he said at the 8th CEO Summit held in Accra Monday, May 27, 2024.
As part of the drive to ensure the application of AI to its optimum, John Mahama said “we will also entrench the use of POS devices in transactions to make tax and levies collection more transparent.”
Speaking on ensuring macro-economic stability, he stated he is intending to launch an urgent economic recovery and fiscal consolidation plan upon assumption of office.
The flag bearer of the National Democratic Congress (NDC) says his plan will be drawn from an economic dialogue that would be held within the first 100 days of coming into office.
According to him, the move, which would be his number one priority, would be implemented by cutting down government expenses, tackling corruption and waste in the system, as well as widening the tax net amongst others.
The nuisance Electronic transaction levy, which has become an albatross to many businesses, per the former President’s statement, would also be abolished to bring relief to businessmen and women.
“The number one priority will be stabilising the economy and restoring a stable currency by launching an urgent economic recovery and fiscal consolidation plan following a national economic dialogue to be held within one hundred days of assumption of office.
“We will do this by pruning the huge government expenditures, preventing waste and corruption, and boosting revenues by expanding the tax net. We will simplify the VAT and streamline its collection. We will abolish the e-levy and some taxes that have become a burden on businesses and households. We will not burden you with endless tax audits and harass you with EOCO,” he relayed.
The annual Ghana CEO Summit, founded in 2016, has participants of over 500 topmost CEOs, Heads of State, entrepreneurs, business leaders and policymakers from West Africa and around the world.
The one-day Summit was themed “Reigniting Business and Economic Growth: Charting a Path Forward; Economic Diversification and Artificial Intelligence Transformation. A Private-Public Sector CEO Dialogue & High Impact- Learn.”
‘Please don’t leave our country, tarry a bit more’ – Mahama begs CEOs over economic turmoil
