The CEO of Dalex Finance Mr. Joe Jackson, has laid out expectations from the upcoming 2025 budget, the 24-hour economy, and its implications for the private sector and Ghana’s economic growth.
His insights underscore the critical role the budget will play in shaping the business environment, job creation, and economic recovery, particularly within the constraints of an IMF program. He pointed out;
“A commitment has been made. There’s no doubt about it. What we’re waiting for is how that commitment will translate [in] reality. What different is this government going to do so that that commitment is made?”
Mr. Joe Jackson CEO Dalex Finance
This statement sets the tone for Mr. Jackson’s expectations from the government, especially regarding the private sector’s role in the economy.
Mr. Jackson mentioned that taxation remains a pivotal area where the government could demonstrate its commitment to supporting business growth. He cited;
“For example, it [NDC manifesto] says there will be tax reform. And tax will be fair and transparent. He [John Mahama] talks about supporting business growth and encouraging investment. They talk about the 24-hour economy and animating local industries and creating jobs and attracting investment. That is good.”
Mr. Joe Jackson CEO Dalex Finance
These reforms are expected to foster a more conducive environment for investment, which Mr. Jackson believes is crucial for achieving the government’s goals.
A recurring theme in Jackson’s discourse is the importance of the 2025 budget which would be a litmus test. He emphasized;
“In a lot of ways, Some of us are waiting for the first budget. The first budget will tell us what they are doing differently to achieve these things they’ve talked about. when the budget comes out, we would see whether the taxes in there, or the taxes that have been removed have made it growth friendly.
”The budget is key. When the budget comes out, we’ll see whether the environment is now growth-friendly. The environment encourages us to create jobs – that will demonstrate the commitment of His Excellency, John Dramani Mahama to the speech that he’s made.”
Mr. Joe Jackson CEO Dalex Finance
Private Sector as the Engine of Job Creation
Mr. Jackson reiterated the pivotal role of the private sector, particularly in job creation. He vehemently stated;
” Frankly, the government cannot create enough jobs. Jobs are going to be created in the private sector. Jobs are mostly going to be created in the SME sector.
“If the government creates a fair platform for all businesses to operate and promotes growth of the businesses, then we’ll see the jobs happen. Then we would see the boost they attributing to the 24-hour economy happens. “
Mr. Joe Jackson CEO Dalex Finance
On the subject of the 24-hour economy, Mr. Jackson believes would not happen overnight. He reaffirmed;
“[The] 24-hour economy won’t happen by accident. It will happen because of their intentional, deliberate policies, that has been outlined and followed up, that are different from what we’ve seen in the past years. That would enable our businesses to grow.”
Mr. Joe Jackson CEO Dalex Finance
This highlights the need for strategic planning and implementation to achieve sustained economic activity throughout the day and night. He added;
“We are under an IMF program. The good thing is that there’s a strong indication that there will be some renegotiation to give the people of Ghana some relief.
“We expect that the reliefs will be obtained, and the private sector will be prioritized. It is the private sector that will really animate the 24-hour economy.”
Mr. Joe Jackson CEO Dalex Finance
His emphasis on tax reforms, the private sector’s role, and the need for deliberate policies underscores the budget’s significance in driving economic growth.
The 2025 budget will undoubtedly be a crucial indicator of the government’s direction, particularly in supporting business growth and fostering an environment conducive to job creation.
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