"We all have to be thankful that we have a capable person like Dr. Bawumia who has taken charge and made sure we are formalizing the economy through digitization," the American based businessman added. According to JB Danquah, the aforementioned fundamentals are necessary for national development, asking that, how does interest rate come down in the regime of high risk premium due to banks' inability to uniquely identify borrowers? Mr. JB Danquah, who has declared his intention to contest the Subin Constituency parliamentary seat, said these in an interview with Neat FM in Accra, while commenting on the 2020 budget statement read by the Finance Minister few weeks ago. While recognizing that it would take some time for the economy to fully realize the benefits that come with digitization, JB Danquah further pointed out that, the system could help to expand the tax net, as lots more businesses and individuals would be traceable. According to him, digitization would allow the tax net to be expanded thereby enhancing revenue collection by government, leading to less borrowing and debt servicing.

Source: GhanaWeb November 26, 2019 12:45 UTC