Private sector leaders have called on the government to prioritize tax reforms and reduce port duties to create a more favorable business environment that will drive economic growth.

This appeal was made during the 2025 Corporate Excellence Awards held in Accra, where over 29 individuals and companies were recognized for their contributions to the nation’s economy and social development.

The awards ceremony, organized by Imperial Communications, honored professionals and organizations from various sectors, including banking, agribusiness, hospitality, healthcare, academia, technology and innovation, manufacturing, export, and trade.

Commending the government’s initiative of a 24-hour economy aimed at creating more job opportunities, industry leaders acknowledged that while some companies are already implementing this approach, the government’s formal endorsement could enhance productivity and economic resilience.

Speaking on the sidelines of the event, one of the awardees stated, “If the government truly wants to see the private sector thrive, there must be deliberate efforts to lower taxes and create a robust structure that supports investment. The backbone of any developed economy is the private sector, and Ghana must not be an exception.”

Another awardee emphasized, “Every economically developed nation thrives on a strong private sector. The government must not only focus on policies but also take concrete actions, such as reducing port duties and taxes. That’s what will attract investment and help businesses flourish.”

Award recipients expressed gratitude for the recognition, with one banking sector awardee stating, “This recognition by Imperial Communications encourages us to keep striving for excellence. But it also highlights the need for a more business-friendly environment to support our efforts.”

Industry leaders reiterated that for the government’s 24-hour economy vision to succeed, it must be supported by strategic policies that reduce the cost of doing business and improve the overall investment climate.

The event not only celebrated excellence but also served as a platform for stakeholders to voice their concerns and propose solutions to foster economic growth through a more empowered private sector.