The 2022 Budget aims at empowering Ghanaians to be self-reliant and self-creating. That is, creating the enabling environment for Ghanaians to set up their own businesses, expand to employ more hands thereby reducing the rate of youth unemployment and generally contributing to the growth of the economy.
The sustainability of every economy largely depends on entrepreneurship. It is the responsibility of the government to put measures and systems in place that promote the culture of entrepreneurship, and that is exactly what President Akufo-Addo’s government sought to achieve.
For instance, Suame Magazine is one of the richest high streets of Ghana. There are over 250, 000 skilled workers who are entrepreneurs and they offer essential services, including manufacturing everything you can think of when it comes to vehicles; from bolts to assembling of vehicles by hands. Millions of dollars are traded here on every single day. Suame Magazine serves as the heart of the informal economy of Ghana where thousands of laborers learn their trades.
The 2022 Budget would give hope to those who want to work with the formal economy as well as those who desire to independently create a viable business for themselves.
A strong formal and informal economy with a prudent tax payment system is the best way Ghana could achieve ‘Ghana Beyond Aid’ agenda.
