The Chief Executive Officer of DALEX Finance, Joe Jackson, has conveyed his assurance regarding the selection of Majority Leader Cassiel Ato Forson as the Finance Minister-designate, emphasizing Forson’s capability to manage the intricacies associated with tax reforms.
During an interview on Thursday, January 9, 2025, Jackson recognized the difficulties involved in abolishing taxes, especially within the framework of an IMF program. He underscored the necessity of achieving a balance between offering tax relief and ensuring adequate revenue generation to fulfill Ghana’s financial responsibilities, which include debt servicing and maintaining stable tax inflows.
“Eliminating these taxes is a complex endeavor, particularly as we are under the IMF regime and are dedicated to repaying our debts while sustaining our tax revenue at a certain level. While removing taxes may seem straightforward, the real challenge lies in generating sufficient revenue.”
“It is easy for individuals to express their desire to eliminate the bets tax, E-levy, or COVID tax, but the reality is that once these are removed, we must identify alternative revenue sources to meet our commitments to the IMF and ensure timely payments to our creditors. Thus, this is not a simple task.”
Jackson’s comments come in response to President John Dramani Mahama’s commitment to abolish several taxes, including the E-levy, COVID levy, and the 10% tax on betting winnings, within the initial 90 days of his presidency.
This initiative is perceived as an effort to alleviate the economic burdens faced by citizens and to reduce the high costs associated with conducting business.
In light of these circumstances, Joe Jackson expressed optimism that Ato Forson’s appointment would bring the requisite expertise to tackle the financial challenges ahead.
“I am confident that, considering Cassiel Ato Forson’s qualifications, he will make a significant effort to address the situation effectively.”
On January 9, 2025, the Presidency formally announced the nomination of Ato Forson for the role of Finance Minister-designate, along with several other significant appointments. A statement from the presidency indicated that these nominations had been forwarded to the Speaker of Parliament, Alban Bagbin, in accordance with Article 78 of the 1992 Constitution of Ghana. The confirmed nominations are as follows:
Hon. Dr. Cassiel Ato Baah Forson — Minister for Finance Designate
Hon. John Abdulai Jinapor — Minister for Energy Designate
Hon. Dominic Akuritinga Ayine — Attorney-General and Minister for Justice Designate.
