By In a decisive move to address Ghana’s mounting fiscal challenges, Finance Minister Dr. Cassiel Ato Forson inaugurated the new Governing Board of the Ghana Revenue Authority (GRA) on Friday, urging its members to champion fairness and ethical conduct. The ceremony, held in Accra, spotlighted the critical role of domestic revenue mobilization in securing Ghana’s economic stability at a time of constrained financing and reduced international support.
Dr. Forson, speaking with a sense of urgency, thanked President John Dramani Mahama for appointing a board he described as a “distinguished team” capable of steering the GRA through turbulent times. “You are taking on this role at a critical juncture,” he told the nine-member board, highlighting the government’s limited access to capital markets following a recent debt restructuring program, alongside a significant drop in development grants.
A notable example he cited was the withdrawal of over US$234 million in USAID funding, which included US$78 million for health initiatives and US$156 million for economic growth and education programs—a loss that underscores the pressing need for self-reliance.
The Finance Minister laid out the government’s fiscal roadmap, emphasizing that domestic revenue mobilization is the cornerstone of its 2025 agenda. The target is to boost revenue collection by 0.6 percentage points of GDP each year, aiming for a primary fiscal surplus of 1.5% of GDP by the end of 2025.
Additionally, the government seeks to lower the external debt service-to-revenue ratio from 28% in 2022 to 18% by 2028. “These goals are not just numbers—they are the foundation of a prosperous Ghana,” Dr. Forson stressed, noting that every cedi lost to inefficiency or corruption directly impacts essential services like healthcare, education, and infrastructure.
To achieve these objectives, Dr. Forson outlined key priorities for the GRA Board, including modernizing operations, cracking down on smuggling, and strengthening ties with the Ministry of Finance’s Revenue Policy Division. A major focus was on fostering a culture of integrity within the GRA. “The public must trust that the GRA operates with fairness and ethical conduct,” he said, warning that revenue losses due to corruption result in “unbuilt schools, unpaved roads, and inadequate sanitation.”
One of the Minister’s bold proposals was a mandatory rotation policy for GRA officers, requiring them to shift roles every two years. This measure aims to minimize collusion risks, enhance professional development, and improve overall performance. Dr. Forson also revealed plans for a performance bonus Memorandum of Understanding with the Commissioner-General, a step intended to incentivize results, with the agreement to be overseen by the heads of Domestic Tax and Customs.
The inauguration comes against the backdrop of broader economic concerns. A February 2025 World Bank report highlighted that Ghana’s economic growth from 2008 to 2019, averaging 6.8% annually, was fueled by oil production and heavy borrowing, leaving the country exposed to global economic shocks. The report urged structural reforms to bolster fiscal discipline and revenue collection—recommendations that align with Dr. Forson’s directives to the GRA.
As the new board steps into its role, Dr. Forson pledged the Ministry’s full support, calling for a collective effort to build a “self-reliant Ghana.” “Every tax cedi collected, every ethical decision made, brings us closer to the inclusive and prosperous future we envision,” he concluded, marking the official start of the board’s tenure.
With Ghana at a fiscal crossroads, the GRA’s ability to deliver on these mandates will be a defining factor in the nation’s path toward sustainable growth.
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