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Musician and businessman Desmond Kwesi Blackmore, well-known as D-Black, says the harsh economic conditions are making doing business in Ghana very unattractive.
According to him, the ever-rising taxes coupled with the volatile exchange rate are adversely affecting all his businesses, which span from music to the hospitality industry.
Speaking to Amelley Djosu on Joy Prime’s Celeb Biz Saturday, the businessman said the unfavourable conditions are drowning his profit margins, which is a huge disincentive for innovation and creativity.
“It’s difficult [doing business in Ghana]. The hospitality business is now taxed at 21.9 percent by the GRA. If you’re making GHS1,000, GHS219 is for the government. They just audited us. So you have to make sure your books are proper. It’s difficult. Taxes go up every other year. We don’t have proper structures in place as musicians to collect royalties. It’s difficult in all the areas that I’m in. You have to be blessed and very hardworking to be able to manoeuvre yourself and remain in business in such conditions,” he explained.
D-Black’s comments come in the wake of a massive protest in Ghana, #OccupyJulorbiHouse, in which a number of celebrities participated, including himself.
He believes the current government has lost touch with reality and appears adamant about addressing the numerous challenges plaguing citizens and their livelihoods.
The three-day demonstration was aimed at demanding the President and his Economic Management Team to #FixTheCountry in light of what the protestors described as a heightened level of economic mismanagement and theft that has engulfed the government.
Mr. Blackmore indicated that he cannot endorse politicians but can make his voice heard on issues affecting the ordinary Ghanaian and businesses struggling to stay afloat.
The ‘Enjoyment Minister’ is not flirting with the idea of entering politics. He says it will take a lot for him to be convinced to enter mainstream politics. All he wants is the best for Ghana.
