The GNBCC Hosts Insightful Second CEO & CFO Dinner on Ghana’s Mid-Year Economic Outlook and Tax Reforms

The GNBCC, in collaboration with PricewaterhouseCoopers (PwC) and the Ghana Revenue Authority (GRA), successfully hosted the second edition of the CEO & CFO Dinner yesterday, 9th July 2026, at La Villa Boutique Hotel, Osu, Accra.

The exclusive gathering brought together CEOs and CFOs of GNBCC Premium Members and key stakeholders for strategic discussions, expert insights, and networking focused on Ghana’s evolving economic, fiscal, and tax landscape. 

Building on the success of the inaugural edition, this year’s dinner centred on the theme, “The 2026 Half-Year Budget Review and ITAS (Integrated Tax Administration System): The Impact on Businesses.”The event provided participants with valuable perspectives on economic developments, tax administration reforms, and practical considerations for businesses operating in Ghana.

Understanding Business Challenges Through a Brief Survey

The evening commenced with a welcome address by GNBCC’s General Manager Hilde Famaey, who welcomed participants and highlighted the importance of creating platforms where business leaders can openly discuss challenges, share experiences, and engage with institutions shaping Ghana’s business environment.

Following the welcome remarks, participants took part in a Mentimeter-based short survey on operational business bottlenecks in Ghana. The confidential survey was designed to capture real-time perspectives from GNBCC Premium Members operating in Ghana regarding the practical challenges affecting their operations.

Participants shared insights on key operational constraints across areas including trade facilitation, customs procedures, logistics, regulatory processes, and administrative systems. While Ghana’s broader macroeconomic environment continues to evolve, the session highlighted the day-to-day operational frictions businesses encounter and their impact on efficiency, investment decisions, and growth.

The insights gathered will support GNBCC’s evidence-based advocacy efforts and inform constructive engagement with stakeholders to improve Ghana’s business environment and investment climate. 

PwC Presentation: Assessing Ghana’s Mid-Year Economic Performance

The programme continued with a presentation by Kwame Ansa Akufo, Senior Manager, CMD, at PwC, who delivered “The State of Ghana’s Economy in H1: A Mid-Year Assessment of the 2026 Budget and the Implications for Business.”

Drawing on data from the Ministry of Finance, the Bank of Ghana, and the Ghana Statistical Service, Mr. Ansa Akufo provided a balanced assessment of Ghana’s economic performance during the first half of 2026. He noted that while macroeconomic indicators point to improving economic stability, many businesses continue to face operational and financing challenges.

Among the positive developments highlighted were declining inflation, improved exchange rate stability, stronger foreign exchange reserves, improved fiscal discipline, and higher export earnings from commodities such as gold and oil. These developments, he explained, have contributed to greater confidence in Ghana’s economic outlook and improved predictability for businesses.

At the same time, he emphasised that several challenges remain. These include high lending rates, constrained access to credit, slower-than-expected capital expenditure, revenue mobilisation pressures, and continued operational bottlenecks affecting businesses. He also noted that global geopolitical developments, particularly disruptions to energy markets and international supply chains, continue to pose risks to Ghana’s economic recovery.

Looking ahead, Mr. Ansa Akufo encouraged business leaders to strengthen resilience by improving cash flow management, reviewing pricing strategies, managing foreign exchange risks, enhancing supplier resilience, and adopting scenario-based planning to navigate the second half of the year.

The presentation concluded with an engaging discussion, during which participants explored practical strategies businesses can adopt to respond to the evolving economic landscape.

GRA Presentation: Strengthening Tax Administration Through ITAS

A major highlight of the evening was the presentation by Elsie Appau-Klu Esq., Technical Advisor to the Commissioner-General of the Ghana Revenue Authority (GRA), who addressed the theme “2026 Half-Year Budget Review and ITAS: The Impact on Businesses.”

Her presentation provided participants with insights into Ghana’s tax administration landscape, recent revenue performance, and the Authority’s ongoing digital transformation efforts.

Ms. Appau-Klu highlighted the GRA’s June 2026 revenue performance, where the Authority collected GHS 22.71 billion against a target of GHS 22.48 billion, describing the achievement as a result of collaboration between the Authority and its stakeholders. She emphasised that effective tax administration is a shared responsibility between the GRA and the business community.

She further highlighted existing compliance challenges within Ghana’s tax system, including gaps in VAT and income tax compliance, and explained that improving compliance, reducing revenue leakages, and creating a level playing field for businesses remain key priorities for the Authority.

A significant focus of her presentation was the Integrated Tax Administration System (ITAS), which forms part of the GRA’s digitalisation agenda. She explained that ITAS integrates important tax administration processes, including taxpayer registration, filing, payments, and support services, while improving data accuracy and operational efficiency.

Ms. Appau-Klu encouraged businesses to view ITAS not simply as a platform for submitting tax returns, but as an extension of their internal governance systems. She emphasised the importance of maintaining accurate records, updating taxpayer information, reconciling tax obligations regularly, and using available GRA support channels when challenges arise.

She also encouraged businesses to remain tax compliant by filing and paying their taxes on time to avoid penalties and other compliance issues. Additionally, she highlighted the availability of publicly accessible GRA tax data, which promotes transparency and provides insights into revenue performance.

The GRA representative reaffirmed the Authority’s commitment to continuously improving ITAS, strengthening taxpayer support services, responding to feedback, and ensuring a more efficient and transparent tax administration system.

Interactive Dialogue on Economic Outlook, Taxation, and Business Resilience

Following the presentations, participants engaged in an interactive question-and-answer session, providing an opportunity to explore the practical implications of the topics discussed.

Participants sought further clarification from Mr. Ansa Akufo on the findings of the 2026 Half-Year Budget Review and on the practical strategies businesses can adopt to remain resilient amid Ghana’s evolving economic landscape. He addressed concerns on the private sector outlook, operational resilience, and the importance of adapting financial and strategic approaches in response to emerging policy and market developments. The discussion emphasised practical approaches and best practices organisations can adopt to remain resilient and competitive. 

The discussion with Ms. Appau-Klu Esq. focused on several issues affecting the private sector, including the availability of tax stamps, the high cost of customs clearance and import duties compared with neighbouring West African countries, illicit trade activities such as smuggling and counterfeit products, the digitisation of tax stamps, and the impact of import duties on local manufacturing and foreign direct investment.

In response, Ms. Appau-Klu explained that the GRA is implementing measures to strengthen enforcement against illicit trade, including task forces to combat smuggling and counterfeit products. She also noted that customs duties and clearance costs are largely influenced by government policy considerations. On the digitisation of tax stamps, she indicated that the initiative forms part of the Authority’s ongoing digital transformation agenda and remains under development. She further encouraged businesses to continue engaging with the GRA through available support channels as the Authority works to improve service delivery and tax administration.

Networking and Strengthening Business Relationships

The formal programme concluded with closing remarks, followed by a networking dinner that provided guests with further opportunities for engagement and connection. The evening provided valuable opportunities for participants to strengthen professional relationships, exchange ideas, and build new connections within the Ghana–Netherlands business community.

The successful second edition of the GNBCC CEO & CFO Dinner reaffirmed the Council’s role in providing members with timely business intelligence, policy engagement opportunities, and meaningful connections. 

The GNBCC remains committed to strengthening business-government collaboration and creating an enabling environment for investment and sustainable growth between Ghana and the Netherlands.