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Deputy Finance Minister-designate, Thomas Nyarko Ampem has emphasised the need for Ghana to become self-reliant in the face of dwindling external aid from major donors.
He asserted that "it’s about time we plan our lives without aid."
Speaking during his vetting before Parliament’s Appointments Committee on Monday, February 24, Mr. Ampem cited the recent withdrawal of funding support from the United States through USAID, which will create a $156 million funding gap for Ghana this year.
Mr. Ampem pledged to support the Finance Minister in leveraging digital technology to enhance revenue generation.
He highlighted the importance of the Ghana Integrated Financial Management Information System (GIFMIS) in preventing procurement breaches and ensuring efficient expenditure control across Ministries, Departments, and Agencies (MDAs).
The nominee expressed his commitment to improving Ghana’s tax revenue-to-GDP ratio from 13.8 per cent to 18 per cent and reducing inflation from 23 per cent to a target range of 8 per cent plus two or minus two.
He also reaffirmed his support for implementing key fiscal measures outlined in the International Monetary Fund (IMF) programme.
Mr. Ampem underscored the role of electronic digital technology in aiding local assemblies to efficiently collect market tolls and boost internally generated funds.
On the proposed 24-hour economy policy, the nominee indicated that private companies enrolled in the initiative would benefit from reduced electricity tariffs for night-time operations, encouraging businesses to operate beyond regular hours.
Mr. Ampem reiterated his commitment to supporting the Finance Ministry in strengthening financial transparency, accountability, and economic stability.

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