Finance Minister pushes for friendlier tax systems in Africa

Dr. Mohammed Amin Adam, Ghana’s Finance Minister, has urged African governments to reform tax systems to be simpler, faster, and business-friendly to boost compliance, increase domestic revenue, and reduce reliance on costly international loans.

He highlighted the annual financing gap of half a trillion dollars for low-income countries to achieve the Sustainable Development Goals (SDGs) by 2030. With Sub-Saharan Africa's tax-to-GDP ratio below 15%, reforms are essential.

Speaking at the AfDB Annual Meetings, Dr. Adam called for fairer, efficient tax systems, expanded tax nets, and leveraging AI for better collection.

Ghana initiated monthly stakeholder engagements to improve tax processes and ease business operations.