The ruling New Patriotic Party (NPP) which is one of the main contenders for this year’s general election commissioned its manifesto on the 22nd of August, 2020 telling the Ghanaian electorates what to anticipate in the next four (4) should they renew their mandate.
Below are extracts and its related pages of the manifesto which directly addresses the business community. This is to help you track and prepare to take advantage of the opportunities if they are implemented and advise yourselves if otherwise.
- Support Made-in-Ghana products, including supporting the use of local raw materials.
- Promote the manufacturing of digital devices locally.
- Continue to work with the private sector to establish more Special Economic Zones for manufacturing and support them with “last-mile” infrastructure services.
- Finalise the establishment of the bauxite refinery to complete the aluminium value chain.
- Complete the establishment of an iron and steel industry through the Ghana Integrated Iron and Steel
- Development Corporation (GIISDEC).
- Continue the process of providing gas infrastructure to bauxite refinery sites.
- Deepen and expand 1D1F in diversity and national coverage.
- Process more cocoa and shea-butter locally.
- Deepen the Automotive Assembly industry.
- Produce at least half of Ghana’s sugar needs locally within the next four years.
- Promote the local production of pharmaceuticals.
- Complete the process of establishing a fertiliser producing plant in Ghana, and for light manufacturing, renew the emphasis on component assembly, not just for automobiles, but for home appliances, including electric fans, refrigerators, and air conditioners to meet our growing domestic demand. Found on page 153.
Efforts in modernising agriculture along the entire value chain, including expanding Agricultural Mechanisation Centres through;
– Increased supply of inputs for farmers.
– Enhanced involvement of farm extension officers to work with farmers and breeders.
– Increased disease control.
– Improved warehousing and post-harvest logistics.
– Tighter linkages with industry mainly through 1D1F. Found on page 153
Diversification of export-oriented, large scale agricultural enterprises in cocoa, palm oil, legumes, cereals, rice and horticulture, poultry and meat for regional markets. This will be achieved through;
– Large-scale private sector investment in processing, packaging and export of agricultural produce.
– Promotion of import substitution, with special focus on rice, sugar and poultry by scaling up supply of improved seeds and fertilisers to farmers.
– Promoting consumption of locally produced rice, sugar and poultry.
– Supporting the private sector under the Rearing for Food and Jobs (RFJ) policy with subsidised day-old chicks, feed, and vaccines.
– Supporting soya bean production for the production of poultry feed.
– Enhancement of small ruminant production with supply of improved breeds of sheep and goats.
– The successful implementation of the Greenhouse Village concept, focusing especially on the youth activities under the Planting for Export and Rural Development (PERD) with the rapid growth of the Ghana Tree Crop Development Authority (GTCDA).
– The development of the Pwalugu Multipurpose Dam, and
– Access to finance through subscription to the Ghana Incentive-Based Risk-Sharing Scheme for Agricultural Lending (GIRSAL) programme to finance and de-risk private sector investments in farming and other agricultural value-chain activities. Found on page 154.
There would be plans to reform further the business and regulatory environment, it will:
– Introduce a risk-based licensing and inspection system, and remove the license requirements for all companies that do not pose any health or public safety risk.
– Continue to modernise the legal framework for investment and business, including contract enforcement, the Borrowers and Lenders Act and Construction Sector LI.
– Implement fully recently enacted business laws, The Companies Act and Corporate Insolvency Law.
– Introduce a single business identifier for interactions with all government agencies to reduce compliance cost and time for the private sector.
– Set up a one-stop-shop that gathers together all agencies involved in the building permitting process for improved service delivery. Found on page 177.
There is also the introduction regulatory flexibility for Micro, Small & Medium Enterprises (MSMEs) to improve compliance post COVID-19 by:
– Introducing a specific tax regime for MSMEs with specialised, flexible provisions.
– Offering online tax filing and payment for MSMEs.
– Reducing the time required for VAT refunds for all companies, and
– Introducing a risk-based system to make tax audits more efficient
– Prioritise payment of Government arrears owed to the private sector to increase liquidity availability, and
– Prioritise efforts to retain and grow existing investment by providing targeted “investor aftercare initiatives” to key Foreign Direct Investments (FDI) and anchor firms in Special Economic Zones and their lead local suppliers in order to preserve and expand supply chains. Found on page 178.
Reform Local Content Regimes; – Place more emphasis on Ghanaian participation along the supply and services value chain, in addition to mandatory local equity participation. – While Ghanaian equity participation will remain desirable and a key plank in our policy toolset, we will explore options to upscale participation along supply and services value chains, and place a strong emphasis on capacity development, so we can have more technical experts across all the skills areas for the oil and gas and other natural resources sectors. Found on page 179.
Export Development and Diversification;
– Construct one of the biggest convention and exhibition centres in the world at the Ghana Trade Fair Company site, to attract foreign trade and investments particularly in the Non-Traditional Exports (NTEs).
– Partner the private sector to complete the development of industrial parks under the “One Region, One Park” Special Economic Zone (SEZ) Programme, one in each region, to anchor labour-intensive manufacturing for exports. To this end, a special economic zone policy framework will be implemented.
– Use the Ghana Tree Crop Development Authority (GTCDA) as an anchor, and increase funding for the development of NTEs of selected agricultural crops. Found on page 179.
Export Development and Diversification;
– Private sector commercial vehicle owners and operators will turn-in their existing, aged vehicles, in exchange for financed, new vehicles, and
– The new vehicles will be Made-in-Ghana by private-sector assemblers of taxis, trotros, trucks and buses. Found on Pages 179 & 180.
In conclusion, the above are the undertakings of the NPP to you as a business person and/or investor.