A recent KPMG/UNDP 2025 Pre-Budget Survey has shed light on the concerns and expectations of Ghanaian businesses. Over 50% of respondents are calling for the removal of the E-levy and COVID-19 levy, while a substantial 72% support the implementation of the 24-Hour Economy Policy. Moreover, 80% of respondents are confident that the new government’s policies in the 2025 budget will drive economic recovery.

The survey, which gathered insights from 233 leading businesses across 10 sectors, highlighted the need for tax relief and a successful rollout of the 24-hour economy. However, abolishing the proposed taxes is expected to create a substantial revenue shortfall. To address this, respondents suggested exploring alternative revenue sources, such as:

• Expanding the tax base: Incorporating the informal sector into the tax base
• Reintroducing road tolls: Generating revenue through road tolls
• Privatising or divesting underperforming State-Owned Enterprises (SOEs): Improving efficiency and reducing losses
• Reviewing existing tax policies: Ensuring tax policies are fair and effective

Respondents also emphasized the need for an enabling environment to maximize the benefits of the 24-hour economy policy. This includes enhancing security and public safety, ensuring a stable electricity supply, improving transport and infrastructure, and offering tax incentives to businesses.

In line with these recommendations, the government has confirmed plans to abolish the E-Levy and the COVID levy in the 2025 budget. Additionally, the government intends to launch the 24-Hour Economy Policy, implement a ‘No-Academic-Fee’ policy for first-year students in public tertiary institutions, and establish a Women’s Development Bank and key job creation programs.