President of Ghana, John Dramani Mahama, has revealed that the idea for the Kwahu Business Forum was conceived in the back of a Toyota Land Cruiser during a campaign tour with his Chief of Staff, Julius Debrah.
Speaking at the Kwahu Business Forum 2026 on Saturday, April 4, the President used the occasion not only to recount the origins of the forum but also to urge Ghanaian businesses to prioritise tax compliance and succession planning as key pillars for long-term business sustainability.
Addressing business leaders and entrepreneurs at the forum, President Mahama called on large Ghanaian companies to openly demonstrate their commitment to paying taxes, stressing that tax compliance is a key responsibility of corporate citizens and essential for national development.
“I encourage all of you, the big businesses, don’t hide. Go and stand there with GRA and let them receive your cheque. Let’s see that you are paying your taxes and that you are good corporate citizens,” he said, referring to the Ghana Revenue Authority.
Beyond tax compliance, the President placed strong emphasis on succession planning, describing it as one of the biggest weaknesses of many Ghanaian businesses, particularly family-owned and informal sector enterprises.
To illustrate his point, he shared a personal story from his upbringing in Tamale, where a popular Tuozafi (TZ) food business continued to thrive even after the death of the founder because the business had been successfully handed over to the founder’s daughter.
“That is effective succession,” he said. “The major problem with most Ghanaian businesses is that once the founder is gone, there is no proper succession planning. Relatives start quarrelling over the business, and before long, it collapses.”
President Mahama warned that the lack of structured succession planning has contributed to a cycle in which many Ghanaian businesses rise and collapse after the death or exit of the founder, preventing the growth of long-lasting companies capable of driving economic transformation.
“Businesses rise and collapse, new ones come and collapse again. We need sustained businesses, and that requires planning beyond the founder’s lifetime,” he emphasised.
His remarks formed part of broader discussions at the Kwahu Business Forum focused on building resilient Ghanaian businesses, improving corporate governance, encouraging tax compliance, and creating sustainable enterprises that can survive beyond their founders and contribute to long-term economic growth.
The President’s comments highlighted a growing concern among policymakers and business leaders that Ghana must move from short-lived founder-driven businesses to structured, multi-generational companies if the country is to build strong local industries and globally competitive firms.
Story by Doe Benjamin Kofi Lawson