‘We shouldn’t stifle initiative with excessive taxation’ – Kufuor

Former President John Agyekum Kufuor has urged Ghana’s leaders to avoid excessive taxation that stifles initiative and prevents entrepreneurs from creating wealth.

Speaking on Joy News’ PM Express on Wednesday, he said the state should empower individuals to use their talents and resources to build businesses. He argued that those who legitimately become wealthy should be allowed to keep their earnings while paying reasonable taxes.

“We shouldn't stifle initiative with excessive taxation,” he said.

Kufuor made the remarks when asked about his vision for Ghana in 50 years and the future he envisages for young people.

He placed private enterprise at the heart of that vision. He said leadership must recognise the Ghanaian entrepreneur’s ability to harness resources and generate wealth.

“The state should gather the framework to empower the people.”

He called for room for the private sector to grow and attract investment from Ghana and abroad. He linked that ambition to the country’s openness, but said its experience had fallen short of that promise.

“We tend to be open-minded and liberal, but that's not how we've lived so far.”

Kufuor’s vision also centred on inclusive governance and leadership that creates wealth to support social interventions.

Education, healthcare and protection against poverty were central to the future he described. He said the country’s resources should translate into better opportunities and living conditions for its people.

“We must ensure that all the children of this land are given some of the finest education you can get anywhere.”

He also called for a safety net to protect vulnerable people, including those with disabilities and those without jobs, from abject poverty.

The former President pointed to Ghana’s mineral wealth as a foundation for prosperity. He cited gold, lithium, bauxite and manganese among the country’s natural advantages.

But his optimism extended beyond minerals. He described Ghanaians as people who interact well, intermarry and generally resist extremes.

He also praised their capacity to learn and distinguish themselves abroad.

For Kufuor, good leadership must bring those strengths together. It should enable entrepreneurs to prosper, attract investment and generate the wealth needed to fund education, healthcare and social protection.