President John Dramani Mahama has expressed optimism about Ghana’s economic prospects, citing early signs of stabilization.
At the 2nd Kwahu Business Forum, he acknowledged the country’s recent economic challenges and outlined steps to steer the nation towards sustainable growth.
The President noted, “We are all aware of the challenges our country has faced in recent years—soaring inflation, a weakened cedi, rising debt levels, and a decline in investor confidence. These challenges have weighed heavily on businesses and households alike. But I am confident—and I say this with sincerity—that we are turning a corner.”
President Mahama emphasized the need for sustainable economic transformation, stating, “There are early signs of macroeconomic stabilisation. Inflation is gradually easing, and with disciplined management, we are beginning to restore a measure of confidence in the economy. But we must aim higher—toward transformation.”
He highlighted the importance of an inclusive financial sector, saying, “And this cannot be achieved without a financial sector that works not just for a few, but for every Ghanaian business—from the roadside vendor to the export-ready manufacturer.”
The President outlined targeted initiatives to restore investor confidence, enhance transparency, and promote a rules-based investment climate.
He stressed the need for an economy that is resilient, inclusive, and productive.
Elizabeth Ofosu-Adjare, Minister of Trade, Agribusiness, and Industry, shared the ministry’s efforts, “At the ministry, we are sharing the transformations with the business regulatory reform programme, a cross-cutting initiative that coordinates reforms across 50 institutions including MMDA, private sector associations and professional bodies and other key institutions.”
Alexander Afenyo-Markin, Minority Leader, emphasized the financial sector’s role in supporting local businesses, “When we empower local businesses with the capital and confidence, they will grow, we need to do more to boost productivity”.
“This will open up the pathways for job creation, which remains one of our most urgent national challenges. Building a strong and inclusive financial ecosystem is not just an economic imperative but a crucial factor for growth” he added.