President John Dramani Mahama has urged African heads of state to ensure tax compliance to address the continent’s $402 billion annual financing gap.
He emphasised the importance of domestic resource mobilisation and strategic investments in key sectors.
He made the call in his address as Champion on African Union Financial Institutions at the Heads of State and Government breakfast dialogue at the AU Commission headquarters in Addis Ababa, Ethiopia, on February 16.
“Addressing the financial gap requires a multifaceted approach. Domestic resource mobilisation is crucial for improving tax administration, combating illicit financial flows, and encouraging the culture of tax compliance,” Mahama said.
The Ghanaian leader asserted that there are challenges confronting the continent, such as climate crises, geopolitical tensions, and diseases, which threaten the continent’s growth and sustainable development.
He maintained that there was the need for strategic investments in key sectors like health, education, energy, and technology as part of efforts in addressing the financing gap.
“This financing gap is not merely a statistic. It represents the unrealised potential of millions of Africans whose dream for a better life depends on our ability to invest wisely in infrastructure, education, technology, and health.”
By: Rainbowradioonline.com/Ghana
