President John Dramani Mahama has urged Ghanaian businesses to openly demonstrate their commitment to tax compliance, while also stressing the importance of succession planning to ensure long-term business sustainability.
His remarks were delivered at the Kwahu Business Forum 2026 on Saturday, April 4.
Addressing large business operators, the President encouraged them to personally present their tax payments to the Ghana Revenue Authority (GRA), reinforcing the notion of corporate responsibility and transparency.
“I encourage all of you, the big businesses, don’t hide. Go and stand there with GRA and let them receive your cheque. Let’s see that you are paying your taxes and that you are good corporate citizens,” he said.
President Mahama also highlighted succession planning as a critical factor in sustaining Ghanaian businesses, particularly in the informal sector.
Drawing from his own upbringing in Tamale, he recounted the story of a popular local Tuozafi (TZ) joint.
Despite the passing of the original owner, the business continued successfully under the founder’s daughter, exemplifying effective succession planning.
“That is effective succession,” he said. “The major problem with most Ghanaian businesses is that once the founder is gone, there is no proper succession planning. Relatives start quarreling over the business, and before long, it collapses.”
He warned that the lack of structured succession planning contributes to a cycle of businesses rising and collapsing, which hinders the development of sustained enterprises capable of driving long-term economic growth.
“Businesses rise and collapse, new ones come and collapse again. We need sustained businesses, and that requires planning beyond the founder’s lifetime,” President Mahama emphasised.
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