Let entrepreneurs keep their legitimately earned millions – Kufuor

Former President John Agyekum Kufuor has urged Ghana’s leaders to allow entrepreneurs to keep their legitimately earned wealth while paying reasonable taxes.

Speaking on Joy News’ PM Express on Wednesday, he warned against excessive taxation that stifles initiative. He said the state should empower individuals to use their talents and the country’s resources to create wealth.

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

Kufuor was responding to a question about his vision for Ghana over the next 50 years and the prospects for young people.

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

“Let the people become millionaires, and they legitimately earn it; why not let them keep their millions, paying their reasonable taxes?”

He called for a framework that supports enterprise and allows businesses to grow.

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

Kufuor said allowing the private sector to mature would help attract investment from both within Ghana and abroad. He described Ghanaians as open-minded and welcoming, but said the country had yet to fully reflect those qualities in how it operates.

He also tied his vision of wealth creation to social protection. He called for inclusive leadership that generates the resources needed to provide education, healthcare and support for vulnerable people.

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

He also stressed the need for a safety net so that people with disabilities and those without jobs do not live in abject poverty.

For Kufuor, Ghana’s natural resources and the abilities of its people offer a strong foundation for that future. He cited gold, lithium, bauxite and manganese as examples of the country’s mineral wealth.

He also pointed to Ghanaians’ ability to live together, learn and distinguish themselves abroad.

He argued that good leadership and inclusive governance would help turn those strengths into prosperity. His vision combines room for entrepreneurs to succeed with public services that ensure more citizens benefit from the wealth created.