As Ghana approaches the December 2024 elections, the political atmosphere is charged with anticipation, with citizens keenly awaiting the release of party manifestos. Among them, the ruling party's manifesto is particularly awaited, given its potential to shape the nation's future. While the full details of the manifesto are yet to be unveiled, some key promises have already surfaced. These include the abolition of the Electronic Transactions Levy (E-Levy), the introduction of a Credit Score system, a continued push for digitalization, and free tertiary education for persons with disabilities (PWDs). Each of these promises holds significant potential to transform Ghana's socio-economic landscape.
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| Veep. & Flagbearer of NPP- Dr. Bawumia |
1. Abolishing the E-Levy
The E-Levy, introduced in 2022, was a 1.5% tax on electronic transactions, including mobile money transfers, aimed at broadening the tax base and increasing government revenue. However, the levy was met with widespread criticism and opposition, as many Ghanaians saw it as an additional financial burden, especially for the poor and middle class.
Abolishing the E-Levy is likely to be a popular move among voters. The removal of this tax would likely encourage more people to engage in electronic transactions without the fear of additional charges, thus promoting financial inclusion. This could also spur economic activity as more money remains in the hands of the people, potentially leading to increased spending and investment. The government would, however, need to find alternative revenue streams to make up for the shortfall, ensuring that the abolition of the E-Levy does not adversely affect public services.
2. Introduction of a Credit Score System
A significant move towards financial modernization, the introduction of a Credit Score system in Ghana would be a game-changer for the country's economy. A credit score system assigns a numerical value to a person's creditworthiness, based on their borrowing history, repayment behavior, and other financial activities. This system could have several positive effects:
- Access to Credit: It would enable more Ghanaians to access credit facilities. Banks and financial institutions would have a reliable means to assess the risk associated with lending to individuals and businesses, potentially reducing the interest rates on loans for those with good credit scores.
- Encouraging Responsible Borrowing: A credit score system encourages responsible financial behavior, as individuals would be incentivized to maintain a good score to access better financial products.
- Economic Growth: By making credit more accessible, especially to small and medium-sized enterprises (SMEs), the system could stimulate business growth and entrepreneurship, driving economic development.
3. Continued Push for Digitalization
Digitalization has been a cornerstone of the ruling party’s agenda over the past years, with initiatives such as the Ghana Card, digital property addressing, and the Digital Ghana Agenda. The continued push for digitalization is likely to remain a key component of their manifesto.
- Efficiency in Governance: Digitalization enhances government efficiency by streamlining processes, reducing bureaucracy, and improving service delivery. It also helps in the fight against corruption by ensuring transparency and accountability.
- Economic Benefits: A digital economy can attract foreign investment, create jobs, and open new markets for local businesses. It also empowers citizens by providing them with the tools to engage in e-commerce, access online education, and participate in the digital economy.
- Inclusivity: By expanding digital infrastructure, the government can ensure that even the most remote areas of Ghana are connected, promoting inclusivity and bridging the digital divide.
4. Free Tertiary Education for Persons with Disabilities (PWDs)
Education is a powerful tool for social mobility and empowerment. The proposal to provide free tertiary education for persons with disabilities (PWDs) is a commendable step towards achieving greater inclusivity and equality in Ghana.
- Empowerment: This policy would empower PWDs by providing them with the skills and knowledge necessary to compete in the job market, thus reducing dependency and promoting self-reliance.
- Economic Inclusion: By investing in the education of PWDs, the government would be ensuring their full participation in the economy, tapping into a pool of talent that is often underutilized. This could also help change societal perceptions of PWDs, showcasing their contributions to national development.
- Social Justice: Offering free tertiary education to PWDs aligns with the principles of social justice and equal opportunity, ensuring that every Ghanaian, regardless of their physical or mental abilities, has the chance to pursue higher education and contribute to the nation’s progress.
Conclusion
The expected promises in the ruling party’s 2024 manifesto reflect a vision of progress, inclusivity, and modernization. Abolishing the E-Levy, introducing a Credit Score system, pushing for continued digitalization, and providing free tertiary education for PWDs are policies that, if implemented effectively, could significantly benefit Ghanaians. These initiatives not only address immediate concerns but also lay the groundwork for sustainable development, positioning Ghana as a forward-thinking nation ready to embrace the challenges and opportunities of the future. As the December 2024 elections approach, these promises will undoubtedly be key points of discussion, shaping the discourse on the country’s path forward.
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