Chief Government Officer of Coconut Grove Regency Resort, Mr Ralph Ayitey.
The Nationwide Treasurer of the Affiliation of Ghana Industries (AGI), who’s additionally the Chief Government Officer (CEO) of Coconut Grove Regency Resort, Mr Ralph Ayitey, has referred to as on the federal government to intentionally set out focused interventions to formalize the operations of Ghana’s casual sector.
Talking on the launch of the 2025 Built-in Enterprise Institution Survey (IBES) report by the Ghana Statistical Service, Mr Ralph Ayitey mentioned Ghana’s casual sector, which accounts for about 92% of all business enterprises and employs about 65.3% of the lively labour power, is in dire want of focused interventions to formalize its operations.
He emphasised that the casual sector’s important contribution to Ghana’s economic system, estimated at round 35.6% of the nation’s GDP, is usually underestimated on account of a scarcity of dependable information.
He is thus of the view that the IBES report, which goals to bridge this information hole, offering useful insights into each the formal and casual sectors, is in the correct route, and recommended the Ghana Statistical Service for the initiative, which was supported by AGI.
“It ought to due to this fact give us an concept of the variety of companies exterior the tax web,” Ayitey acknowledged. “There ought to be focused interventions to assist formalize the operations of the casual sector, since a rising casual sector won’t inure to the advantage of our fiscal insurance policies.”
To deal with the challenges confronted by the casual sector, Mr Ayitey really helpful a multi-sectoral method, involving the Ministry of Meals and Agriculture, Commerce, Agribusiness and Trade, and the Ministry of Tourism. He additionally prompt that the Statistical Service take into account growing bankable proposals to assist agri-businesses and different casual sector enterprises.
“I want to advocate that with the Statistical Service being the tip of the tip, let’s begin growing bankable proposals to Ghanaians to observe by way of,” Ayitey mentioned. “This should contain the Ministry of Meals and Agric, Commerce, Agribusiness and Trade, and the Ministry of Tourism as nicely.”
Mr Ayitey harassed the necessity to make doing enterprise within the formal sector extra enticing and accessible to casual sector operators. This might contain simplifying the method of formalization, lowering prices, and offering incentives for companies to register and adjust to tax legal guidelines.
“If there may be sufficient motivation for casual sector companies to formalize their operations, I consider tax income mobilization might be rather a lot simpler for our tax authorities,” Ayitey famous. “It pays to function a well-structured enterprise, however from a sensible perspective, I consider much more must be performed when it comes to the benefit and price of doing enterprise within the formal sector to function a motivation to these exterior the formal sector to formalize.”
By formalizing the operations of the casual sector, Mr Ayitey believes Ghana can improve tax income, enhance financial productiveness, and create extra jobs. “Allow us to improve public dialogue to discover a few of our information wants as a rustic to assist in figuring out what is suitable from a nationwide standpoint.”
Ghana’s Poultry Trade
He significantly highlighted the potential of Ghana’s poultry sector and but the large challenges it faces.
Ghana’s poultry sector has been going through important challenges in recent times, with imports of frozen rooster dominating the market. In accordance with Mr Ralph Ayitey, Ghana consumes round 600,000 heads of imported rooster per day.
“It is a staggering quantity, and it is a clear indication that our native poultry business is struggling to satisfy demand,” Ayitey mentioned. “We have to ask ourselves why we’re importing a lot rooster when we have now the potential to supply it regionally.”
He emphasised that Ghana has the potential to change into self-sufficient in poultry manufacturing, however this requires a concerted effort from stakeholders, together with the federal government, farmers, and business gamers.
“We have to assist our native farmers and supply them with the required assets and incentives to extend manufacturing,” Ayitey harassed. “We additionally want to deal with the problem of excessive manufacturing prices, which makes it troublesome for our farmers to compete with imported rooster.”
Ayitey prompt that the federal government take into account introducing insurance policies to guard the native poultry business, reminiscent of tariffs on imported rooster or incentives for native farmers to extend manufacturing.
“We have to make consuming native rooster trendy once more,” Ayitey mentioned. “We have to promote our native poultry business and encourage Ghanaians to assist our farmers by shopping for native rooster. This won’t solely assist to cut back our reliance on imported rooster but in addition create jobs and stimulate financial development.”
Ayitey additionally highlighted the potential for poultry farming to contribute considerably to Ghana’s economic system. “An acre of land can be utilized to construct a 6-storey poultry farm, which might be extra economically worthwhile than an 8-storey residence block,” he famous. “We have to suppose exterior the field and discover revolutionary methods to assist our native industries.”
By supporting the native poultry business, Ghana can cut back its reliance on imported rooster, create jobs, and stimulate financial development. As Ayitey concluded, “Allow us to work collectively to advertise our native poultry business and make Ghana self-sufficient in rooster manufacturing. We owe it to ourselves, our farmers, and our economic system.”
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