Let entrepreneurs keep their legitimately earned millions – Kufuor

Former President John Agyekum Kufuor has urged Ghanaian leaders to permit entrepreneurs to retain their legitimately earned wealth while paying fair taxes. During an appearance on Joy News’ PM Express, Kufuor cautioned against excessive taxation that hinders initiative. He advocated for empowering individuals to utilize their talents and the nation's resources to generate prosperity.

"We shouldn’t stifle initiative with excessive taxation," he emphasized. Responding to a question about his vision for Ghana over the next 50 years and prospects for the youth, Kufuor placed private enterprise at the core of his vision. He stressed that leadership must acknowledge the Ghanaian entrepreneur's capability to leverage resources and amass wealth.

"Let the people become millionaires, and they legitimately earn it; why not let them keep their millions, paying their reasonable taxes?" Kufuor proposed a framework that supports enterprise and enables businesses to flourish. "The state should gather the framework to empower the people," he stated. Kufuor argued that allowing the private sector to mature would facilitate investment from both within Ghana and abroad.

He described Ghanaians as receptive and inclusive, but noted the country had yet to fully embody these qualities in its operations. He connected his vision of wealth creation to social protection, advocating for inclusive leadership that generates resources for education, healthcare, and support for vulnerable individuals. "We must ensure that all the children of this land are given some of the finest education you can get anywhere," he asserted.

He also highlighted the need for a safety net to prevent those with disabilities and those without jobs from living in extreme poverty. For Kufuor, Ghana's natural resources and the abilities of its people provide a robust foundation for this future. He cited gold, lithium, bauxite, and manganese as examples of the country's mineral wealth.

He also pointed to the Ghanaians' capacity to coexist, learn, and excel abroad. Kufuor argued that good leadership and inclusive governance would transform these strengths into prosperity. His vision merges the potential for entrepreneurs to succeed with public services that ensure broader citizen benefit from the wealth generated.