President John Dramani Mahama has reaffirmed his administration’s commitment to reviving Ghana’s economy and restoring investor trust, assuring stakeholders that bold measures are underway to tackle current economic difficulties.
Speaking at the second edition of the Kwahu Business Forum held in Mpraeso, Eastern Region, on Saturday, April 19, 2025, the President acknowledged challenges such as surging inflation, currency depreciation, high public debt, and declining investor confidence.
“We are all familiar with the economic pressures our nation has endured in recent times—rising inflation, the weakening of the cedi, increasing debt, and reduced investor trust. These issues have taken a toll on both households and businesses. But I believe, with all sincerity, that Ghana is on the path to recovery,” President Mahama stated.
Path Toward Transformation
While optimistic about initial signs of macroeconomic stabilization, including a slowdown in inflation and renewed fiscal discipline, President Mahama stressed that recovery alone isn’t sufficient. He called for a national commitment toward sustainable and transformative economic growth.
“Inflation is beginning to ease, and we’re regaining some confidence in the economy. However, we must not settle—we must strive for economic transformation,” he urged.
Key Initiatives for Economic Growth
President Mahama highlighted several policy directions, including:
- The rollout of the 24-Hour Economy initiative,
- Enhanced support for small and medium enterprises (SMEs),
- Increased investment in infrastructure and human capital.
He emphasized that economic progress must be inclusive, noting,
“The financial system must benefit not only large corporations but also the everyday Ghanaian—whether a market vendor or a business exporting abroad.”
Kwahu Business Forum: Bridging the Private Sector and Government
The forum, themed “The Future of Business: The Role of the Financial Sector,” aimed to boost entrepreneurship and SME development, especially in agro-processing and manufacturing.
It served as a platform for private sector growth, drawing participation from business owners, investors, start-ups, and major industry players. Attendees included:
- Kwahu Abetifihene, Akyemfour Asiedu Agyemang III (Chair),
- Majority Leader Mahama Ayariga,
- Minority Leader Alexander Afenyo-Markin,
- Minister of Trade, Agribusiness, and Industry Elizabeth Ofosu-Adjare,
- Chief of Staff Julius Debrah,
- MP for Abetifi Bryan Acheampong.
Pursuing an Investor-Friendly Climate
President Mahama outlined the government’s efforts to create a more transparent and predictable business environment through a targeted investment strategy. The approach includes:
- Reducing bureaucratic bottlenecks,
- Promoting transparency,
- Establishing a rules-based investment system.
Focus on Financial Sector Reform
The Minister of Trade reiterated the administration’s plans to reorient Ghana’s financial system toward national development goals. The Ministry’s Business Regulatory Reform Programme—coordinating efforts across over 50 institutions—aims to streamline business processes and stimulate private investment in productive sectors.
“We are restructuring the regulatory space to support enterprise growth, entrepreneurship, and long-term development,” the Minister noted.
A Vision for Ghana’s Economic Future
Minority Leader Alexander Afenyo-Markin emphasized the role of a resilient business sector and a robust financial system in shaping Ghana’s economic destiny.
“Our future will be determined by how well we support local businesses with both capital and confidence. increasing productivity, we unlock jobs and expand growth opportunities. A vibrant financial ecosystem is not just a nice-to-have—it is essential,” he said.
About The Author
