By: Franklin ASARE-DONKOH
Development economist and former Director of the Institute of Statistical, Social, and Economic Research (ISSER), Professor Peter Quartey, says consistent changes to Ghana’s tax system by successive governments are a disincentive to the investor community.
He argued that frequent changes to tax policies create an unpredictable environment, which can deter long-term investment.
Addressing participants at the 2025 edition of the Graphic Business/Stanbic Bank Breakfast Meeting held in Accra, Professor Quartey explained that some investors choose to invest in countries based on their tax policies or regimes; thus, when those policies are altered, it becomes a disincentive to long-term investors.
He cited the abolishment of the 10% withholding tax on bet winnings, the Electronic Transfer Levy (E-Levy), and the Emissions Levy, among others, introduced by the Nana Addo Dankwa Akufo-Addo-led government and reversed by the current administration when it took office.
Professor Quartey based his argument on revenue loss, policy inconsistency, and negative social impact on the Ghanaian economy.
Speaking at the same forum, the Executive Director of the Institute for Democratic Governance (IDEG), Dr. Emmanuel Akwetey, said the National Development Planning Commission (NDPC), which is supposed to drive the country’s developmental agenda, has not been able to put Ghana’s development on appreciable levels for 30 solid years under democratic rule due to political manipulations.
Dr. Akwetey argued that the commission should be run by technocrats and insulated from politics, as is done in some parts of Asia, to ensure effective planning.
He pointed to a dominant political duopoly (the National Democratic Congress (NDC) and New Patriotic Party (NPP)) that alternates control of the executive and legislature, which concentrates power and excludes other voices, potentially facilitating political interference in state institutions like the NDPC.
The Executive Director of IDEG linked such governance issues and inequalities to increased political discontent and an erosion of trust in state institutions, including those responsible for national planning and accountability.
“The NDPC itself has faced challenges, including inadequate and delayed funding, and issues with Ministries, Departments, and Agencies (MDAs) failing to submit reports, which points to a lack of accountability and compliance within the system,” he noted.
Dr. Akwetey’s comments highlight a broader concern that short-term political interests often undermine long-term, evidence-based national development planning in Ghana.
The theme for the 2025 edition of the Graphic Business/Stanbic Bank Breakfast Meeting was: “Beyond Political Cycles: Creating Long-term Development Pathways for Sustainable Investor Confidence.”
The meeting addressed how to strengthen long-term development and build investor confidence in Ghana beyond short-term political shifts.
Experts from the Institute for Democratic Governance (IDEG), the National Development Planning Commission (NDPC), and PwC discussed the need for consistent policy implementation to insulate the economy from political fluctuations.
